Arrow Financial (NASDAQ:AROW) Price Target Lowered to $30.00 at Piper Sandler

Arrow Financial (NASDAQ:AROW - Free Report) had its price objective trimmed by Piper Sandler from $32.00 to $30.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the financial services provider's stock.

Separately, 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.

Arrow Financial Stock Performance

Shares of AROW traded down $0.61 during trading hours on Tuesday, hitting $26.89. The stock had a trading volume of 43,797 shares, compared to its average volume of 41,040. The firm has a market capitalization of $450.14 million, a price-to-earnings ratio of 15.19 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a 50-day moving average price of $28.74 and a 200 day moving average price of $29.42. Arrow Financial has a fifty-two week low of $21.50 and a fifty-two week high of $34.63.

Arrow Financial (NASDAQ:AROW - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.12). Arrow Financial had a net margin of 13.32% and a return on equity of 8.59%. As a group, research analysts anticipate that Arrow Financial will post 2.7 EPS for the current year.

Arrow Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, February 10th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 4.17%. The ex-dividend date is Monday, February 10th. This is a positive change from Arrow Financial's previous quarterly dividend of $0.25. Arrow Financial's dividend payout ratio (DPR) is 63.28%.

Insider Transactions at Arrow Financial

In other Arrow Financial news, Director Daniel James White acquired 3,668 shares of the stock in a transaction dated Friday, January 31st. The stock was acquired at an average cost of $27.23 per share, with a total value of $99,879.64. Following the transaction, the director now owns 4,338 shares in the company, valued at $118,123.74. The trade was a 547.46 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Raymond F. O'conor sold 2,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $25.28, for a total value of $50,560.00. Following the sale, the director now directly owns 35,022 shares in the company, valued at $885,356.16. This trade represents a 5.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,000 shares of company stock worth $173,640 over the last ninety days. Company insiders own 3.55% of the company's stock.

Hedge Funds Weigh In On Arrow Financial

Large investors have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in Arrow Financial during the 4th quarter worth approximately $1,072,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Arrow Financial by 136.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,050 shares of the financial services provider's stock worth $1,578,000 after purchasing an additional 31,741 shares during the period. Arrow Financial Corp grew its position in Arrow Financial by 1.2% in the 3rd quarter. Arrow Financial Corp now owns 1,969,793 shares of the financial services provider's stock valued at $56,454,000 after buying an additional 23,198 shares during the last quarter. Trust Co. of Vermont increased its stake in Arrow Financial by 49.5% in the 4th quarter. Trust Co. of Vermont now owns 57,365 shares of the financial services provider's stock valued at $1,647,000 after buying an additional 19,000 shares during the period. Finally, Barclays PLC raised its position in Arrow Financial by 251.9% during the 3rd quarter. Barclays PLC now owns 21,411 shares of the financial services provider's stock worth $614,000 after buying an additional 15,327 shares during the last quarter. Institutional investors and hedge funds 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.