Arrow Financial Co. (NASDAQ:AROW) Sees Significant Drop in Short Interest

by · The Markets Daily

Arrow Financial Co. (NASDAQ:AROW – Get Free Report) saw a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 114,900 shares, a drop of 8.3% from the November 30th total of 125,300 shares. Based on an average daily trading volume, of 38,900 shares, the short-interest ratio is currently 3.0 days.

Insider Buying and Selling at Arrow Financial

In related news, Director Raymond F. O’conor sold 2,000 shares of Arrow Financial stock in a transaction on Monday, November 4th. The shares were sold at an average price of $28.50, for a total value of $57,000.00. Following the completion of the sale, the director now owns 39,496 shares of the company’s stock, valued at approximately $1,125,636. The trade was a 4.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.55% of the company’s stock.

Hedge Funds Weigh In On Arrow Financial

Several large investors have recently made changes to their positions in AROW. JPMorgan Chase & Co. boosted its stake in Arrow Financial by 137.8% in the third quarter. JPMorgan Chase & Co. now owns 18,702 shares of the financial services provider’s stock valued at $536,000 after acquiring an additional 10,838 shares during the last quarter. Barclays PLC raised its holdings 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 period. State Street Corp lifted its stake in Arrow Financial by 0.3% in the third quarter. State Street Corp now owns 393,719 shares of the financial services provider’s stock valued at $11,284,000 after buying an additional 1,022 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Arrow Financial by 0.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 118,630 shares of the financial services provider’s stock valued at $3,400,000 after buying an additional 1,100 shares during the period. Finally, Rockefeller Capital Management L.P. increased its holdings in Arrow Financial by 0.4% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 116,867 shares of the financial services provider’s stock worth $3,349,000 after purchasing an additional 454 shares in the last quarter. Institutional investors and hedge funds own 46.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AROW. Piper Sandler started coverage on Arrow Financial in a research report on Friday, December 20th. They issued a “neutral” rating and a $32.00 price target on the stock. Hovde Group decreased their price target on shares of Arrow Financial from $34.50 to $32.00 and set a “market perform” rating on the stock in a research report on Friday.

Read Our Latest Analysis on Arrow Financial

Arrow Financial Price Performance

Shares of Arrow Financial stock opened at $28.55 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $477.90 million, a price-to-earnings ratio of 14.57 and a beta of 0.75. The firm’s 50-day moving average price is $31.12 and its two-hundred day moving average price is $29.28. Arrow Financial has a 1-year low of $21.50 and a 1-year high of $34.63.

Arrow Financial (NASDAQ:AROW – Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $57.58 million for the quarter. Arrow Financial had a net margin of 15.00% and a return on equity of 8.59%.

Arrow Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 29th. Shareholders of record on Tuesday, October 15th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.92%. This is a positive change from Arrow Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, October 15th. Arrow Financial’s dividend payout ratio (DPR) is presently 57.14%.

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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