Arrow Financial Co. (NASDAQ:AROW) Director Sells $53,800.00 in Stock

Arrow Financial Co. (NASDAQ:AROW - Get Free Report) Director Raymond F. O'conor sold 2,000 shares of Arrow Financial stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $26.90, for a total transaction of $53,800.00. Following the sale, the director now owns 33,022 shares of the company's stock, valued at approximately $888,291.80. The trade was a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Arrow Financial Price Performance

AROW traded up $0.13 during trading on Friday, hitting $26.40. The company's stock had a trading volume of 23,172 shares, compared to its average volume of 39,242. The firm has a market capitalization of $441.91 million, a price-to-earnings ratio of 14.92 and a beta of 0.76. Arrow Financial Co. has a twelve month low of $21.50 and a twelve month high of $34.63. The business's fifty day simple moving average is $27.03 and its 200 day simple moving average is $29.02. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06.

Arrow Financial (NASDAQ:AROW - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.59 by ($0.12). Arrow Financial had a net margin of 13.32% and a return on equity of 8.59%. On average, equities research analysts forecast that Arrow Financial Co. will post 2.65 EPS for the current fiscal year.

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Arrow Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Monday, February 10th were paid a dividend of $0.28 per share. This is a positive change from Arrow Financial's previous quarterly dividend of $0.25. This represents a $1.12 annualized dividend and a yield of 4.24%. The ex-dividend date was Monday, February 10th. Arrow Financial's payout ratio is 63.28%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AROW. BNP Paribas Financial Markets raised its position in shares of Arrow Financial by 13.0% in the third quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider's stock valued at $99,000 after buying an additional 398 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Arrow Financial by 4.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,406 shares of the financial services provider's stock valued at $270,000 after purchasing an additional 436 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of Arrow Financial by 0.4% in the third quarter. Rockefeller Capital Management L.P. now owns 116,867 shares of the financial services provider's stock valued at $3,349,000 after purchasing an additional 454 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Arrow Financial by 130.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,241 shares of the financial services provider's stock worth $36,000 after acquiring an additional 703 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Arrow Financial by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 126,779 shares of the financial services provider's stock valued at $3,640,000 after acquiring an additional 786 shares during the last quarter. 46.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Hovde Group reduced their price objective on Arrow Financial from $34.50 to $32.00 and set a "market perform" rating for the company in a research note on Friday, December 27th. Piper Sandler dropped their price objective on shares of Arrow Financial from $32.00 to $30.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 4th.

About Arrow Financial

Arrow Financial Corporation, a bank holding company, provides commercial and consumer banking, and financial products and services. The company's deposit products include demand deposits, interest-bearing checking accounts, savings deposits, time deposits, and other time deposits. Its lending activities comprise commercial loans, such as term loans, time notes, and lines of credit; and commercial real estate loans to finance real estate purchases, refinancing, expansions, and enhancement to commercial properties, as well as commercial construction and land development loans to finance projects.