Arrow Financial Corporation (NASDAQ:AROW) Sees Significant Growth in Short Interest

Arrow Financial Corporation (NASDAQ:AROW) was the recipient of a significant increase in short interest in the month of February. As of February 27th, there was short interest totaling 139,839 shares, an increase of 35.8% from the February 12th total of 102,968 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average daily volume of 71,558 shares, the days-to-cover ratio is currently 2.0 days. Based on an average daily volume of 71,558 shares, the days-to-cover ratio is currently 2.0 days. Currently, 0.9% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AROW. Wall Street Zen upgraded Arrow Financial from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Weiss Ratings upgraded Arrow Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Finally, Hovde Group lifted their price target on Arrow Financial from $33.50 to $34.50 and gave the stock a “market perform” rating in a research note on Monday, February 2nd. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $31.25.

Insider Buying and Selling at Arrow Financial

In other Arrow Financial news, CEO David S. Demarco acquired 3,035 shares of the stock in a transaction that occurred on Wednesday, December 24th. The shares were bought at an average price of $31.78 per share, for a total transaction of $96,452.30. Following the completion of the transaction, the chief executive officer owned 3,035 shares of the company’s stock, valued at approximately $96,452.30. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Arrow Financial

A number of large investors have recently modified their holdings of AROW. BNP Paribas Financial Markets raised its stake in Arrow Financial by 67.2% in the second 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. Russell Investments Group Ltd. boosted its position in Arrow Financial by 2,045.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,523 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 1,452 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Arrow Financial by 27.7% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,557 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 338 shares in the last quarter. CWM LLC grew its holdings in shares of Arrow Financial by 159.5% during the 3rd quarter. CWM LLC now owns 1,754 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 1,078 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of 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 worth $63,000 after acquiring an additional 1,802 shares in the last quarter. Institutional investors own 46.71% of the company’s stock.

Arrow Financial Trading Down 0.6%

NASDAQ AROW opened at $32.48 on Monday. The stock has a market cap of $536.24 million, a P/E ratio of 12.26 and a beta of 0.81. Arrow Financial has a fifty-two week low of $22.72 and a fifty-two week high of $36.44. The stock has a 50 day simple moving average of $33.61 and a two-hundred day simple moving average of $30.97. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.92 and a current ratio of 0.92.

Arrow Financial (NASDAQ:AROW) last posted its earnings results on Thursday, January 29th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.04. Arrow Financial had a return on equity of 10.77% and a net margin of 18.12%.The firm had revenue of $43.65 million for the quarter, compared to analysts’ expectations of $43.40 million. On average, analysts forecast that Arrow Financial will post 2.65 earnings per share for the current year.

Arrow Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were issued a $0.30 dividend. This is a boost from Arrow Financial’s previous quarterly dividend of $0.29. The ex-dividend date was Wednesday, February 11th. This represents a $1.20 annualized dividend and a yield of 3.7%. Arrow Financial’s dividend payout ratio (DPR) is currently 45.28%.

About Arrow Financial

Arrow Financial Corporation is a bank holding company headquartered in Glens Falls, New York, that conducts its primary operations through its subsidiary, Glens Falls National Bank & Trust Company. The company provides a comprehensive suite of retail and commercial banking services, including checking and savings accounts, consumer and commercial lending, mortgage financing, and cash management solutions. Through its branch network, Arrow Financial serves individuals, small- and medium-sized businesses, and nonprofit organizations across the Adirondack region, Upper Hudson Valley, Mohawk Valley and parts of Central New York.

In addition to traditional banking, Arrow Financial has developed a robust wealth management and trust services division.