Arrow Financial (NASDAQ:AROW) Issues Quarterly Earnings Results

Arrow Financial (NASDAQ:AROW - Get Free Report) posted its quarterly earnings results on Thursday. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.53, Zacks reports. Arrow Financial had a net margin of 15.00% and a return on equity of 8.67%. The company had revenue of $57.58 million during the quarter.

Arrow Financial Stock Performance

Shares of NASDAQ AROW traded up $0.28 during midday trading on Friday, reaching $28.82. 31,235 shares of the stock were exchanged, compared to its average volume of 26,730. The firm has a market cap of $482.16 million, a price-to-earnings ratio of 14.70 and a beta of 0.72. Arrow Financial has a twelve month low of $21.50 and a twelve month high of $32.92. The firm has a 50-day simple moving average of $28.88 and a two-hundred day simple moving average of $27.10. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.07.

Arrow Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Tuesday, October 15th were paid a dividend of $0.28 per share. This is a boost from Arrow Financial's previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, October 15th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.89%. Arrow Financial's dividend payout ratio (DPR) is presently 57.14%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AROW shares. Hovde Group initiated coverage on shares of Arrow Financial in a research report on Monday, September 9th. They set a "market perform" rating and a $31.00 price target for the company. StockNews.com raised shares of Arrow Financial from a "sell" rating to a "hold" rating in a research note on Tuesday, July 30th.

Insider Transactions at Arrow Financial

In related news, Director Raymond F. O'conor sold 2,000 shares of Arrow Financial stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $30.09, for a total value of $60,180.00. Following the sale, the director now owns 43,176 shares of the company's stock, valued at approximately $1,299,165.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 6,000 shares of company stock valued at $172,520 in the last 90 days. 3.55% of the stock is currently owned by company insiders.

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.