Arrow Financial Co. (NASDAQ:AROW) Sees Large Increase in Short Interest

Arrow Financial Co. (NASDAQ:AROW) was the target of a significant growth in short interest in July. As of July 15th, there was short interest totalling 125,200 shares, a growth of 19.1% from the June 30th total of 105,100 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average trading volume of 33,200 shares, the days-to-cover ratio is currently 3.8 days.

NASDAQ AROW opened at $27.30 on Friday. The business’s 50-day moving average price is $28.22 and its 200 day moving average price is $29.70. Arrow Financial has a twelve month low of $20.78 and a twelve month high of $38.31. The company has a market capitalization of $409.06 million, a PE ratio of 11.05 and a beta of 0.64. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24.

Arrow Financial (NASDAQ:AROW) last released its earnings results on Tuesday, July 21st. The financial services provider reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.07. The firm had revenue of $32.01 million for the quarter, compared to the consensus estimate of $30.58 million. Arrow Financial had a return on equity of 12.32% and a net margin of 26.09%. Equities analysts predict that Arrow Financial will post 2.45 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Wednesday, September 2nd will be issued a $0.26 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.81%. Arrow Financial’s dividend payout ratio (DPR) is 41.60%.

Several equities analysts recently weighed in on the company. BidaskClub downgraded Arrow Financial from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 9th. Zacks Investment Research upgraded Arrow Financial from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Tuesday, June 30th.

Several institutional investors have recently added to or reduced their stakes in AROW. First Trust Advisors LP raised its holdings in shares of Arrow Financial by 1.3% in the 1st quarter. First Trust Advisors LP now owns 26,381 shares of the financial services provider’s stock worth $868,000 after purchasing an additional 327 shares during the period. Victory Capital Management Inc. raised its holdings in shares of 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 worth $146,000 after purchasing an additional 1,366 shares during the period. UBS Group AG raised its holdings in shares of Arrow Financial by 33.8% in the 4th quarter. UBS Group AG now owns 21,088 shares of the financial services provider’s stock worth $797,000 after purchasing an additional 5,325 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Arrow Financial by 83.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 44,539 shares of the financial services provider’s stock valued at $1,683,000 after buying an additional 20,322 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Arrow Financial by 11.7% in the fourth quarter. Bank of New York Mellon Corp now owns 107,771 shares of the financial services provider’s stock valued at $4,073,000 after buying an additional 11,283 shares in the last quarter. Institutional investors own 42.55% 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 improvements to commercial properties, as well as commercial construction and land development loans to finance projects.

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