Arrow Financial (NASDAQ:AROW) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Thursday.

AROW opened at $34.88 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.89 and a current ratio of 0.89. Arrow Financial has a one year low of $30.81 and a one year high of $40.15. The stock has a market cap of $504.55 million, a PE ratio of 14.64 and a beta of 0.62.

Arrow Financial (NASDAQ:AROW) last posted its earnings results on Monday, October 22nd. The financial services provider reported $0.64 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.01). Arrow Financial had a return on equity of 13.59% and a net margin of 29.28%. The firm had revenue of $28.35 million for the quarter.

In other news, SVP David D. Kaiser sold 963 shares of Arrow Financial stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $38.99, for a total transaction of $37,547.37. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold 2,463 shares of company stock worth $94,037 in the last quarter. Insiders own 4.42% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Arrow Financial Corp increased its position in Arrow Financial by 0.6% in the 3rd quarter. Arrow Financial Corp now owns 1,421,473 shares of the financial services provider’s stock valued at $52,594,000 after acquiring an additional 8,766 shares during the period. BlackRock Inc. boosted its holdings in Arrow Financial by 3.9% in the 3rd quarter. BlackRock Inc. now owns 1,034,305 shares of the financial services provider’s stock valued at $38,270,000 after purchasing an additional 38,662 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Arrow Financial by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 620,378 shares of the financial services provider’s stock valued at $22,582,000 after purchasing an additional 26,657 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Arrow Financial by 3.4% in the 2nd quarter. Renaissance Technologies LLC now owns 301,760 shares of the financial services provider’s stock valued at $10,984,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Arrow Financial by 2.4% in the 2nd quarter. Northern Trust Corp now owns 196,830 shares of the financial services provider’s stock valued at $7,164,000 after purchasing an additional 4,577 shares in the last quarter. Hedge funds and other institutional investors own 39.27% of the company’s stock.

Arrow Financial Company Profile

Arrow Financial Corporation, a multi-bank holding company, provides commercial and consumer banking, and financial products and services. Its deposit products include demand deposits, interest-bearing checking accounts, savings deposits, time deposits, and other time deposits. The company's 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 improvements to commercial properties, as well as commercial construction and land development loans to finance projects.

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