Arrow Financial Co. (NASDAQ:AROW) Director Sells $56,080.00 in Stock

Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $28.04, for a total transaction of $56,080.00. Following the transaction, the director now owns 41,176 shares of the company’s stock, valued at approximately $1,154,575.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Arrow Financial Stock Performance

Shares of AROW stock opened at $28.05 on Friday. The company has a market capitalization of $468.38 million, a P/E ratio of 16.31 and a beta of 0.72. Arrow Financial Co. has a 52 week low of $16.85 and a 52 week high of $32.92. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.92 and a current ratio of 0.92. The company’s 50 day moving average price is $28.91 and its two-hundred day moving average price is $26.33.

Arrow Financial (NASDAQ:AROW) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.52 earnings per share for the quarter. Arrow Financial had a net margin of 14.94% and a return on equity of 8.46%. The firm had revenue of $55.83 million during the quarter.

Arrow Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 29th. Investors of record on Tuesday, October 15th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date is Tuesday, October 15th. This is a positive change from Arrow Financial’s previous quarterly dividend of $0.27. Arrow Financial’s dividend payout ratio (DPR) is currently 62.79%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. StockNews.com raised shares of Arrow Financial from a “sell” rating to a “hold” rating in a report on Tuesday, July 30th. Hovde Group started coverage on Arrow Financial in a report on Monday, September 9th. They issued a “market perform” rating and a $31.00 price target for the company.

Institutional Investors Weigh In On Arrow Financial

Several institutional investors have recently bought and sold shares of the company. Adirondack Trust Co. raised its holdings in shares of Arrow Financial by 3.0% in the fourth quarter. Adirondack Trust Co. now owns 21,984 shares of the financial services provider’s stock valued at $614,000 after purchasing an additional 635 shares during the last quarter. Commonwealth Equity Services LLC grew its position in Arrow Financial by 20.0% in the first quarter. Commonwealth Equity Services LLC now owns 23,697 shares of the financial services provider’s stock valued at $593,000 after purchasing an additional 3,950 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Arrow Financial by 90.9% in the 1st quarter. BNP Paribas Financial Markets now owns 7,263 shares of the financial services provider’s stock valued at $182,000 after buying an additional 3,459 shares during the last quarter. Financial Counselors Inc. lifted its position in Arrow Financial by 11.4% during the 1st quarter. Financial Counselors Inc. now owns 19,612 shares of the financial services provider’s stock worth $491,000 after buying an additional 2,000 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of Arrow Financial by 7.7% during the 1st quarter. Empowered Funds LLC now owns 26,764 shares of the financial services provider’s stock worth $670,000 after buying an additional 1,925 shares during the last quarter. Institutional investors own 46.71% 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 enhancement to commercial properties, as well as commercial construction and land development loans to finance projects.