Arrow Financial Co. (NASDAQ:AROW) Short Interest Update

Arrow Financial Co. (NASDAQ:AROW - Get Free Report) saw a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 153,400 shares, a decline of 6.1% from the September 30th total of 163,300 shares. Based on an average daily trading volume, of 35,700 shares, the days-to-cover ratio is currently 4.3 days.

Arrow Financial Price Performance

NASDAQ:AROW traded down $0.80 during trading hours on Thursday, hitting $28.54. The company's stock had a trading volume of 22,122 shares, compared to its average volume of 40,723. The business's 50-day moving average is $28.91 and its two-hundred day moving average is $26.98. The company has a market capitalization of $476.56 million, a PE ratio of 16.59 and a beta of 0.72. 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 has a 52-week low of $21.00 and a 52-week high of $32.92.

Arrow Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 29th. Shareholders of record on Tuesday, October 15th were given a $0.28 dividend. This is a boost from Arrow Financial's previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.12 annualized dividend and a yield of 3.92%. Arrow Financial's dividend payout ratio is presently 65.12%.

Insider Buying and Selling at Arrow Financial

In other news, Director Raymond F. O'conor sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $30.09, for a total transaction of $60,180.00. Following the completion of the sale, the director now owns 43,176 shares in the company, valued at $1,299,165.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 6,000 shares of company stock worth $172,520. 3.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Acadian Asset Management LLC purchased a new position in Arrow Financial in the first quarter worth $157,000. SG Americas Securities LLC acquired a new stake in Arrow Financial in the third quarter valued at $164,000. BNP Paribas Financial Markets grew its holdings in Arrow Financial by 90.9% in the first quarter. BNP Paribas Financial Markets now owns 7,263 shares of the financial services provider's stock valued at $182,000 after purchasing an additional 3,459 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in Arrow Financial in the first quarter valued at $201,000. Finally, IFG Advisory LLC acquired a new stake in Arrow Financial in the second quarter valued at $207,000. Hedge funds and other institutional investors own 46.71% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on AROW. Hovde Group began coverage on Arrow Financial in a research note on Monday, September 9th. They set a "market perform" rating and a $31.00 price target for the company. StockNews.com upgraded Arrow Financial from a "sell" rating to a "hold" rating in a research note on Tuesday, July 30th.

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.