Insider Selling: Arrow Financial Co. (NASDAQ:AROW) Director Sells $57,000.00 in Stock

Arrow Financial Co. (NASDAQ:AROW - Get Free Report) Director Raymond F. O'conor sold 2,000 shares of the company's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $28.50, for a total transaction of $57,000.00. Following the transaction, the director now owns 39,496 shares of the company's stock, valued at approximately $1,125,636. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Arrow Financial Price Performance

Shares of NASDAQ:AROW traded down $0.04 on Monday, hitting $28.78. The stock had a trading volume of 35,374 shares, compared to its average volume of 40,653. The firm's 50 day moving average price is $28.85 and its 200-day moving average price is $27.15. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.92 and a current ratio of 0.92. Arrow Financial Co. has a twelve month low of $21.50 and a twelve month high of $32.92. The company has a market capitalization of $481.49 million, a price-to-earnings ratio of 14.68 and a beta of 0.72.

Arrow Financial (NASDAQ:AROW - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $0.53 EPS for the quarter, meeting analysts' consensus estimates of $0.53. The firm had revenue of $57.58 million for the quarter. Arrow Financial had a net margin of 15.00% and a return on equity of 8.67%.

Arrow Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 29th. Investors of record on Tuesday, October 15th were given a dividend of $0.28 per share. The ex-dividend date was Tuesday, October 15th. This is a positive change from Arrow Financial's previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 3.89%. Arrow Financial's dividend payout ratio is 57.14%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Hovde Group assumed coverage on shares of Arrow Financial in a research report on Monday, September 9th. They set a "market perform" rating and a $31.00 target price on the stock. StockNews.com raised Arrow Financial from a "sell" rating to a "hold" rating in a report on Tuesday, July 30th.

Hedge Funds Weigh In On Arrow Financial

Several institutional investors have recently bought and sold shares of AROW. Arrow Financial Corp grew its stake in shares of Arrow Financial by 6.6% during the second quarter. Arrow Financial Corp now owns 1,946,595 shares of the financial services provider's stock valued at $50,709,000 after purchasing an additional 119,715 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Arrow Financial by 13.7% in the 2nd quarter. American Century Companies Inc. now owns 266,651 shares of the financial services provider's stock valued at $6,946,000 after buying an additional 32,158 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Arrow Financial by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 700,253 shares of the financial services provider's stock worth $18,241,000 after acquiring an additional 31,268 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Arrow Financial by 12.0% during the second quarter. Bank of New York Mellon Corp now owns 129,326 shares of the financial services provider's stock worth $3,369,000 after acquiring an additional 13,829 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Arrow Financial by 1.4% during the first quarter. Vanguard Group Inc. now owns 795,274 shares of the financial services provider's stock valued at $19,898,000 after acquiring an additional 10,636 shares during the period. Institutional investors own 46.71% of the company's stock.

Arrow Financial Company Profile

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.