Arrow Financial (NASDAQ:AROW) Stock Rating Upgraded by Wall Street Zen

Arrow Financial (NASDAQ:AROW) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

AROW has been the topic of a number of other reports. Weiss Ratings restated a “hold (c+)” rating on shares of Arrow Financial in a research note on Monday, December 1st. Hovde Group raised Arrow Financial from a “market perform” rating to an “outperform” rating and raised their target price for the company from $28.50 to $33.50 in a report on Friday, October 31st. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Arrow Financial currently has a consensus rating of “Hold” and a consensus price target of $30.75.

Arrow Financial Stock Down 1.1%

Shares of AROW opened at $30.57 on Friday. The stock’s 50 day moving average is $28.73 and its two-hundred day moving average is $27.88. The firm has a market cap of $502.57 million, a P/E ratio of 14.77 and a beta of 0.82. Arrow Financial has a 12 month low of $22.72 and a 12 month high of $32.51. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. Arrow Financial had a net margin of 14.65% and a return on equity of 9.46%. The company had revenue of $8.07 million for the quarter, compared to analyst estimates of $41.00 million. Analysts predict that Arrow Financial will post 2.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Arrow Financial

In other Arrow Financial news, Director Daniel James White purchased 1,644 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were purchased at an average price of $30.14 per share, for a total transaction of $49,550.16. Following the completion of the acquisition, the director owned 6,890 shares of the company’s stock, valued at approximately $207,664.60. This represents a 31.34% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Penko Krassimir Ivanov bought 5,000 shares of Arrow Financial stock in a transaction that occurred on Wednesday, September 10th. The shares were acquired at an average price of $29.10 per share, for a total transaction of $145,500.00. Following the acquisition, the chief financial officer directly owned 24,744 shares in the company, valued at approximately $720,050.40. This represents a 25.32% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 8,264 shares of company stock valued at $243,359 over the last quarter. Insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Arrow Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its stake in shares of Arrow Financial by 2,045.1% in the third quarter. Russell Investments Group Ltd. now owns 1,523 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 1,452 shares during the period. BNP Paribas Financial Markets lifted its holdings in Arrow Financial by 67.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,612 shares of the financial services provider’s stock worth $43,000 after buying an additional 648 shares in the last quarter. CWM LLC lifted its holdings in Arrow Financial by 159.5% in the 3rd quarter. CWM LLC now owns 1,754 shares of the financial services provider’s stock worth $50,000 after buying an additional 1,078 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Arrow Financial by 306.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,390 shares of the financial services provider’s stock valued at $63,000 after buying an additional 1,802 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Arrow Financial during the second quarter valued at about $198,000. 46.71% of the stock is owned by institutional investors and hedge funds.

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.