Arrow Financial (NASDAQ:AROW) Stock Rating Upgraded by BidaskClub

Arrow Financial (NASDAQ:AROW) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, BidAskClub reports.

Separately, Zacks Investment Research downgraded Arrow Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, September 2nd.

NASDAQ:AROW opened at $27.27 on Tuesday. Arrow Financial has a one year low of $20.78 and a one year high of $38.31. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $409.38 million, a price-to-earnings ratio of 11.04 and a beta of 0.62. The firm’s fifty day moving average is $28.29 and its two-hundred day moving average is $28.00.

Arrow Financial (NASDAQ:AROW) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.54 by $0.07. The firm had revenue of $32.01 million for the quarter, compared to analyst estimates of $30.58 million. Arrow Financial had a return on equity of 12.15% and a net margin of 26.09%. As a group, equities research analysts predict that Arrow Financial will post 2.45 earnings per share for the current fiscal year.

In other news, Chairman Thomas L. Hoy purchased 3,000 shares of the business’s stock in a transaction on Friday, July 31st. The shares were bought at an average price of $27.41 per share, with a total value of $82,230.00. Following the completion of the transaction, the chairman now directly owns 194,157 shares in the company, valued at approximately $5,321,843.37. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.00% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC acquired a new position in shares of Arrow Financial in the second quarter valued at approximately $938,000. Vanguard Group Inc. boosted its position in Arrow Financial by 2.5% during the second quarter. Vanguard Group Inc. now owns 735,237 shares of the financial services provider’s stock worth $21,859,000 after purchasing an additional 18,266 shares during the period. Bank of America Corp DE boosted its position in Arrow Financial by 55.1% during the second quarter. Bank of America Corp DE now owns 45,625 shares of the financial services provider’s stock worth $1,357,000 after purchasing an additional 16,216 shares during the period. HighTower Advisors LLC bought a new stake in shares of Arrow Financial in the first quarter valued at approximately $413,000. Finally, Wells Fargo & Company MN boosted its position in shares of Arrow Financial by 17.0% in the first quarter. Wells Fargo & Company MN now owns 77,395 shares of the financial services provider’s stock valued at $2,157,000 after acquiring an additional 11,231 shares during the period. 43.18% of the stock is currently owned by 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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