Short Interest in Arrow Financial Co. (NASDAQ:AROW) Declines By 20.2%

Arrow Financial Co. (NASDAQ:AROW - Get Free Report) was the recipient of a significant decrease in short interest in the month of February. As of February 15th, there was short interest totalling 82,400 shares, a decrease of 20.2% from the January 31st total of 103,200 shares. Based on an average daily volume of 40,800 shares, the days-to-cover ratio is presently 2.0 days.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AROW. Hovde Group decreased their target price on Arrow Financial from $34.50 to $32.00 and set a "market perform" rating for the company in a report on Friday, December 27th. Piper Sandler decreased their target price on Arrow Financial from $32.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday, February 4th.

Arrow Financial Stock Up 0.5 %

AROW traded up $0.13 during trading on Friday, reaching $26.40. The stock had a trading volume of 23,172 shares, compared to its average volume of 39,266. The stock's 50 day moving average is $27.03 and its two-hundred day moving average is $29.03. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $441.91 million, a price-to-earnings ratio of 14.92 and a beta of 0.73. Arrow Financial has a one year low of $21.50 and a one year high of $34.63.

Arrow Financial (NASDAQ:AROW - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.59 by ($0.12). Arrow Financial had a return on equity of 8.59% and a net margin of 13.32%. As a group, analysts expect that Arrow Financial will post 2.65 earnings per share for the current year.

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Arrow Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Monday, February 10th were issued a $0.28 dividend. This is an increase from Arrow Financial's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.12 dividend on an annualized basis and a yield of 4.24%. Arrow Financial's dividend payout ratio is 63.28%.

Insider Activity

In other news, Director Raymond F. O'conor sold 2,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $25.28, for a total transaction of $50,560.00. Following the completion of the sale, the director now owns 35,022 shares of the company's stock, valued at approximately $885,356.16. This represents a 5.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel James White bought 3,668 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were acquired at an average price of $27.23 per share, with a total value of $99,879.64. Following the acquisition, the director now owns 4,338 shares of the company's stock, valued at $118,123.74. This represents a 547.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 6,000 shares of company stock valued at $162,060. 3.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arrow Financial

A number of institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its holdings in shares of Arrow Financial by 130.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,241 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 703 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Arrow Financial by 13.0% during the third quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider's stock valued at $99,000 after acquiring an additional 398 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Arrow Financial by 18.5% during the fourth quarter. SG Americas Securities LLC now owns 6,765 shares of the financial services provider's stock valued at $194,000 after acquiring an additional 1,056 shares in the last quarter. State of Tennessee Department of Treasury bought a new position in shares of Arrow Financial during the fourth quarter valued at $198,000. Finally, Carl P. Sherr & Co. LLC bought a new position in shares of Arrow Financial during the third quarter valued at $216,000. 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.