Arrow Financial Corporation (NASDAQ:AROW) Short Interest Down 18.2% in April

Arrow Financial Corporation (NASDAQ:AROW) was the target of a large drop in short interest in April. As of April 15th, there was short interest totaling 175,020 shares, a drop of 18.2% from the March 31st total of 214,063 shares. Based on an average trading volume of 105,584 shares, the short-interest ratio is presently 1.7 days. Approximately 1.1% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several research analysts have commented on AROW shares. Wall Street Zen raised Arrow Financial from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Weiss Ratings raised Arrow Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday. 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 report on Monday, February 2nd. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $31.25.

Institutional Trading of Arrow Financial

Several institutional investors have recently modified their holdings of AROW. AQR Capital Management LLC grew its holdings in shares of Arrow Financial by 31.0% during the 1st quarter. AQR Capital Management LLC now owns 12,470 shares of the financial services provider’s stock worth $328,000 after purchasing an additional 2,949 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Arrow Financial by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,796 shares of the financial services provider’s stock worth $258,000 after purchasing an additional 390 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Arrow Financial by 131.3% during the 1st quarter. Jane Street Group LLC now owns 27,272 shares of the financial services provider’s stock worth $717,000 after purchasing an additional 15,482 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Arrow Financial during the 1st quarter worth approximately $311,000. Finally, Rhumbline Advisers grew its holdings in shares of Arrow Financial by 1.5% during the 2nd quarter. Rhumbline Advisers now owns 25,307 shares of the financial services provider’s stock worth $669,000 after purchasing an additional 367 shares in the last quarter. Institutional investors and hedge funds own 46.71% of the company’s stock.

Arrow Financial Stock Performance

Shares of NASDAQ AROW opened at $37.14 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $34.42 and its two-hundred day moving average is $32.40. The company has a market cap of $613.81 million, a P/E ratio of 14.02 and a beta of 0.78. Arrow Financial has a 12 month low of $24.41 and a 12 month high of $38.09.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.79 by $0.06. The company had revenue of $53.79 million for the quarter, compared to the consensus estimate of $43.80 million. Arrow Financial had a return on equity of 12.54% and a net margin of 20.72%.

Arrow Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, May 12th. Arrow Financial’s dividend payout ratio (DPR) is presently 45.28%.

Arrow Financial Company Profile

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.