Arrow Financial (NASDAQ:AROW) Posts Quarterly Earnings Results, Meets Expectations

by · The Markets Daily

Arrow Financial (NASDAQ:AROW – Get Free Report) posted its earnings results on Thursday. The financial services provider reported $0.53 EPS for the quarter, hitting analysts’ consensus estimates of $0.53, Zacks reports. The company had revenue of $57.58 million for the quarter. Arrow Financial had a return on equity of 8.46% and a net margin of 14.94%.

Arrow Financial Stock Up 1.0 %

Shares of AROW opened at $28.82 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.07. The business has a fifty day moving average of $28.88 and a 200 day moving average of $27.06. The company has a market cap of $482.16 million, a PE ratio of 15.25 and a beta of 0.72. Arrow Financial has a 52-week low of $21.50 and a 52-week high of $32.92.

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 issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend was Tuesday, October 15th. This is a positive change from Arrow Financial’s previous quarterly dividend of $0.27. Arrow Financial’s dividend payout ratio is presently 59.26%.

Analyst Ratings Changes

A number of research analysts have recently commented on AROW shares. StockNews.com upgraded Arrow Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th. Hovde Group assumed coverage on shares of Arrow Financial in a research note on Monday, September 9th. They set a “market perform” rating and a $31.00 price target on the stock.

View Our Latest Stock Report on AROW

Insider Buying and Selling at Arrow Financial

In other news, Director Raymond F. O’conor sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $30.09, for a total value of $60,180.00. Following the completion of the sale, the director now owns 43,176 shares in the company, valued at approximately $1,299,165.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 6,000 shares of company stock worth $172,520 over the last quarter. Insiders own 3.55% of the company’s stock.

About Arrow Financial

(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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