Arrow Financial Co. (NASDAQ:AROW) Short Interest Down 14.3% in September

Arrow Financial Co. (NASDAQ:AROW - Get Free Report) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 163,300 shares, a drop of 14.3% from the September 15th total of 190,600 shares. Based on an average trading volume of 40,600 shares, the days-to-cover ratio is currently 4.0 days.

Arrow Financial Stock Up 0.8 %

AROW stock traded up $0.23 during trading on Monday, hitting $29.10. 29,155 shares of the stock traded hands, compared to its average volume of 41,512. The stock has a market cap of $485.91 million, a price-to-earnings ratio of 16.92 and a beta of 0.72. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.92 and a quick ratio of 0.92. The firm's 50 day moving average is $28.64 and its two-hundred day moving average is $26.49. Arrow Financial has a 1 year low of $17.76 and a 1 year high of $32.92.

Arrow Financial (NASDAQ:AROW - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.52 EPS for the quarter. The firm had revenue of $55.83 million during the quarter. Arrow Financial had a net margin of 14.94% and a return on equity of 8.46%.

Arrow Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.28 per share. This is a boost from Arrow Financial's previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend is Tuesday, October 15th. Arrow Financial's dividend payout ratio is currently 65.12%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Arrow Financial news, Director Raymond F. O'conor sold 2,000 shares of the company's 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 completion of the transaction, the director now directly owns 43,176 shares in the company, valued at approximately $1,299,165.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 6,000 shares of company stock valued at $172,520 over the last quarter. 3.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arrow Financial

Several hedge funds and other institutional investors have recently modified their holdings of AROW. Acadian Asset Management LLC bought a new stake in Arrow Financial during the 1st quarter worth approximately $157,000. SG Americas Securities LLC purchased a new stake in Arrow Financial in the 3rd quarter worth $164,000. BNP Paribas Financial Markets increased its stake in Arrow Financial by 90.9% in the 1st quarter. BNP Paribas Financial Markets now owns 7,263 shares of the financial services provider's stock worth $182,000 after buying an additional 3,459 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new stake in Arrow Financial during the first quarter valued at about $201,000. Finally, IFG Advisory LLC bought a new position in shares of Arrow Financial in the second quarter worth about $207,000. 46.71% of the stock is currently owned by hedge funds and other institutional investors.

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.