Piper Sandler Equities Analysts Decrease Earnings Estimates for Arrow Financial Co. (NASDAQ:AROW)

Arrow Financial Co. (NASDAQ:AROW) – Stock analysts at Piper Sandler lowered their Q2 2020 earnings per share (EPS) estimates for shares of Arrow Financial in a research note issued to investors on Monday, March 23rd. Piper Sandler analyst A. Twerdahl now expects that the financial services provider will post earnings per share of $0.60 for the quarter, down from their prior estimate of $0.66. Piper Sandler also issued estimates for Arrow Financial’s Q3 2020 earnings at $0.63 EPS, Q4 2020 earnings at $0.61 EPS, FY2020 earnings at $2.43 EPS, Q1 2021 earnings at $0.58 EPS, Q2 2021 earnings at $0.61 EPS, Q3 2021 earnings at $0.60 EPS, Q4 2021 earnings at $0.58 EPS and FY2021 earnings at $2.37 EPS.

Arrow Financial (NASDAQ:AROW) last released its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.65 EPS for the quarter. The company had revenue of $30.00 million during the quarter. Arrow Financial had a net margin of 27.09% and a return on equity of 12.98%.

Several other research analysts also recently commented on the stock. ValuEngine downgraded shares of Arrow Financial from a “hold” rating to a “sell” rating in a report on Wednesday, March 4th. TheStreet downgraded shares of Arrow Financial from a “b” rating to a “c+” rating in a report on Wednesday, March 18th. Zacks Investment Research downgraded shares of Arrow Financial from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, BidaskClub downgraded shares of Arrow Financial from a “hold” rating to a “sell” rating in a report on Wednesday, March 11th.

AROW opened at $28.26 on Wednesday. The company has a 50 day moving average of $31.42 and a 200 day moving average of $34.45. The company has a market cap of $395.63 million, a PE ratio of 11.28 and a beta of 0.65. Arrow Financial has a 12 month low of $20.78 and a 12 month high of $38.31. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.61.

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.68%. The ex-dividend date was Monday, March 2nd. Arrow Financial’s payout ratio is 41.60%.

Large investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Arrow Financial in the 4th quarter valued at $48,000. Great West Life Assurance Co. Can bought a new position in Arrow Financial in the 4th quarter valued at $57,000. SG Americas Securities LLC bought a new position in Arrow Financial in the 4th quarter valued at $106,000. Bank of Montreal Can boosted its holdings in Arrow Financial by 56.2% in the 4th quarter. Bank of Montreal Can now owns 2,911 shares of the financial services provider’s stock valued at $110,000 after purchasing an additional 1,047 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in Arrow Financial by 54.7% in the 4th quarter. Victory Capital Management Inc. now owns 3,863 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 1,366 shares during the period. 42.47% of the stock is owned by hedge funds and other institutional investors.

About Arrow Financial

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 improvements to commercial properties, as well as commercial construction and land development loans to finance projects.

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Earnings History and Estimates for Arrow Financial (NASDAQ:AROW)

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