Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor Sells 2,000 Shares of Stock

Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 2,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $32.69, for a total transaction of $65,380.00. Following the completion of the transaction, the director now owns 37,859 shares of the company’s stock, valued at $1,237,610.71. This represents a 5.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Arrow Financial Stock Performance

Shares of AROW opened at $32.46 on Wednesday. The company’s 50 day simple moving average is $30.40 and its 200-day simple moving average is $28.54. The firm has a market cap of $543.35 million, a PE ratio of 16.56 and a beta of 0.75. Arrow Financial Co. has a 12-month low of $21.50 and a 12-month high of $34.63. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.53. Arrow Financial had a net margin of 15.00% and a return on equity of 8.59%. The company had revenue of $57.58 million for the quarter.

Arrow Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 29th. Investors of record on Tuesday, October 15th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 3.45%. The ex-dividend date was Tuesday, October 15th. This is a boost from Arrow Financial’s previous quarterly dividend of $0.27. Arrow Financial’s payout ratio is 57.14%.

Institutional Trading of Arrow Financial

A number of hedge funds have recently added to or reduced their stakes in AROW. Barclays PLC raised its position in Arrow Financial by 251.9% during the 3rd quarter. Barclays PLC now owns 21,411 shares of the financial services provider’s stock worth $614,000 after buying an additional 15,327 shares during the last quarter. State Street Corp increased its stake in shares of Arrow Financial by 0.3% during the third quarter. State Street Corp now owns 393,719 shares of the financial services provider’s stock worth $11,284,000 after acquiring an additional 1,022 shares during the period. Hotchkis & Wiley Capital Management LLC raised its holdings in Arrow Financial by 0.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 118,630 shares of the financial services provider’s stock worth $3,400,000 after purchasing an additional 1,100 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in Arrow Financial by 0.4% in the third quarter. Rockefeller Capital Management L.P. now owns 116,867 shares of the financial services provider’s stock valued at $3,349,000 after purchasing an additional 454 shares during the period. Finally, Carl P. Sherr & Co. LLC purchased a new stake in Arrow Financial in the 3rd quarter valued at approximately $216,000. 46.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Hovde Group started coverage on Arrow Financial in a report on Monday, September 9th. They issued a “market perform” rating and a $31.00 target price for the company.

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.