Arrow Financial (NASDAQ:AROW) Reaches New 12-Month High – Time to Buy?

by · The Markets Daily

Arrow Financial Co. (NASDAQ:AROW – Get Free Report)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $33.00 and last traded at $32.42, with a volume of 38827 shares. The stock had previously closed at $29.40.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AROW. StockNews.com raised Arrow Financial from a “sell” rating to a “hold” rating in a report on Tuesday, July 30th. Hovde Group initiated coverage on shares of Arrow Financial in a research note on Monday, September 9th. They issued a “market perform” rating and a $31.00 price objective on the stock.

View Our Latest Report on AROW

Arrow Financial Trading Up 13.7 %

The company has a market cap of $559.38 million, a P/E ratio of 17.06 and a beta of 0.72. The firm has a 50-day moving average of $28.92 and a 200 day moving average of $27.24. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.07.

Arrow Financial (NASDAQ:AROW – Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $0.53 EPS for the quarter, hitting analysts’ consensus estimates of $0.53. The business had revenue of $57.58 million during the quarter. Arrow Financial had a net margin of 15.00% and a return on equity of 8.67%.

Arrow Financial Increases Dividend

The firm 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. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.12 annualized dividend and a yield of 3.35%. This is an increase from Arrow Financial’s previous quarterly dividend of $0.27. Arrow Financial’s dividend payout ratio (DPR) is presently 57.14%.

Insiders Place Their Bets

In related news, Director Raymond F. O’conor sold 2,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $30.09, for a total transaction of $60,180.00. Following the completion of the sale, the director now directly owns 43,176 shares of the company’s stock, valued at approximately $1,299,165.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 8,000 shares of company stock valued at $229,520. Corporate insiders own 3.55% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Arrow Financial Corp boosted its stake in Arrow Financial by 6.6% during the second quarter. Arrow Financial Corp now owns 1,946,595 shares of the financial services provider’s stock valued at $50,709,000 after buying an additional 119,715 shares during the period. American Century Companies Inc. lifted its position in Arrow Financial by 13.7% during the second quarter. American Century Companies Inc. now owns 266,651 shares of the financial services provider’s stock valued at $6,946,000 after purchasing an additional 32,158 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Arrow Financial by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 700,253 shares of the financial services provider’s stock worth $18,241,000 after buying an additional 31,268 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Arrow Financial by 12.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 129,326 shares of the financial services provider’s stock worth $3,369,000 after buying an additional 13,829 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Arrow Financial by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 795,274 shares of the financial services provider’s stock valued at $19,898,000 after buying an additional 10,636 shares in the last quarter. Institutional investors own 46.71% of the company’s stock.

Arrow Financial Company Profile

(Get Free Report)

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.

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