Short Interest in Arrow Financial Co. (NASDAQ:AROW) Increases By 8.3%

Arrow Financial Co. (NASDAQ:AROW - Get Free Report) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 124,400 shares, an increase of 8.3% from the December 31st total of 114,900 shares. Based on an average daily volume of 41,800 shares, the days-to-cover ratio is currently 3.0 days.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on AROW shares. Hovde Group cut their target price on shares of 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. Piper Sandler cut their price objective on shares of Arrow Financial from $32.00 to $30.00 and set a "neutral" rating for the company in a research report on Tuesday.

Arrow Financial Trading Up 0.7 %

Shares of NASDAQ:AROW traded up $0.18 during midday trading on Thursday, reaching $27.51. The company's stock had a trading volume of 31,885 shares, compared to its average volume of 40,433. The firm has a market cap of $460.49 million, a price-to-earnings ratio of 15.54 and a beta of 0.76. The business has a 50 day moving average price of $28.85 and a 200 day moving average price of $29.43. Arrow Financial has a 1 year low of $21.50 and a 1 year high of $34.63. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06.

Arrow Financial (NASDAQ:AROW - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.47 EPS for the quarter, missing analysts' consensus estimates of $0.59 by ($0.12). Arrow Financial had a net margin of 13.32% and a return on equity of 8.59%. Research analysts forecast that Arrow Financial will post 2.7 EPS for the current year.

Arrow Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, February 10th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend 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 Buying and Selling

In related news, Director Daniel James White bought 3,668 shares of the stock in a transaction on Friday, January 31st. The shares were purchased at an average price of $27.23 per share, for a total transaction of $99,879.64. Following the acquisition, the director now owns 4,338 shares in the company, valued at $118,123.74. This represents a 547.46 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Raymond F. O'conor sold 2,000 shares of the business's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $28.85, for a total value of $57,700.00. Following the completion of the transaction, the director now directly owns 35,859 shares of the company's stock, valued at approximately $1,034,532.15. This trade represents a 5.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,000 shares of company stock valued at $173,640. 3.55% of the stock is owned by insiders.

Institutional Trading of Arrow Financial

Institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its holdings in Arrow Financial by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 700,253 shares of the financial services provider's stock valued at $18,241,000 after acquiring an additional 31,268 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Arrow Financial in the 3rd quarter worth about $164,000. Private Advisor Group LLC lifted its stake in shares of Arrow Financial by 26.7% in the 3rd quarter. Private Advisor Group LLC now owns 25,257 shares of the financial services provider's stock valued at $724,000 after purchasing an additional 5,323 shares in the last quarter. Atria Investments Inc grew its holdings in shares of Arrow Financial by 32.6% during the 3rd quarter. Atria Investments Inc now owns 16,856 shares of the financial services provider's stock worth $483,000 after purchasing an additional 4,148 shares during the period. Finally, Arrow Financial Corp increased its position in Arrow Financial by 1.2% during the 3rd quarter. Arrow Financial Corp now owns 1,969,793 shares of the financial services provider's stock worth $56,454,000 after purchasing an additional 23,198 shares in the last quarter. 46.71% of the stock is 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.