Arrow Financial (NASDAQ:AROW) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Arrow Financial (NASDAQ:AROW) from a sell rating to a hold rating in a research report released on Friday.

Separately, Hovde Group began coverage on shares of Arrow Financial in a research note on Tuesday, January 9th. They issued a market perform rating on the stock.

Arrow Financial Trading Up 4.1 %

Shares of AROW stock opened at $22.79 on Friday. Arrow Financial has a 52-week low of $16.65 and a 52-week high of $29.66. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.90 and a current ratio of 0.90. The company has a 50-day simple moving average of $23.91 and a two-hundred day simple moving average of $24.17. The company has a market capitalization of $377.24 million, a price-to-earnings ratio of 12.88 and a beta of 0.70.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings data on Thursday, February 1st. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). Arrow Financial had a return on equity of 8.21% and a net margin of 15.69%. The firm had revenue of $33.10 million during the quarter, compared to the consensus estimate of $35.01 million. Research analysts anticipate that Arrow Financial will post 2.33 EPS for the current fiscal year.

Arrow Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Monday, February 12th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.74%. This is a boost from Arrow Financial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 9th. Arrow Financial’s payout ratio is presently 61.02%.

Institutional Trading of Arrow Financial

Institutional investors have recently modified their holdings of the business. CWM LLC lifted its stake in shares of Arrow Financial by 226.1% during the 3rd quarter. CWM LLC now owns 1,562 shares of the financial services provider’s stock valued at $27,000 after buying an additional 1,083 shares in the last quarter. Ensign Peak Advisors Inc purchased a new stake in shares of Arrow Financial during the 3rd quarter valued at approximately $28,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Arrow Financial by 136.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,630 shares of the financial services provider’s stock valued at $28,000 after buying an additional 941 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Arrow Financial during the 4th quarter valued at approximately $29,000. Finally, Great West Life Assurance Co. Can lifted its stake in shares of Arrow Financial by 71.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 944 shares of the financial services provider’s stock valued at $32,000 after buying an additional 395 shares in the last quarter. 46.71% of the stock is currently 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 enhancement to commercial properties, as well as commercial construction and land development loans to finance projects.