Arrow Financial (NASDAQ:AROW) Stock Price Crosses Above 50 Day Moving Average – What’s Next?

Shares of Arrow Financial Corporation (NASDAQ:AROW) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $37.96 and traded as high as $41.38. Arrow Financial shares last traded at $40.82, with a volume of 77,340 shares traded.

Analyst Ratings Changes

A number of research firms recently commented on AROW. Weiss Ratings raised shares of Arrow Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Keefe, Bruyette & Woods assumed coverage on shares of Arrow Financial in a research report on Thursday, June 25th. They issued a “market perform” rating and a $42.00 price target for the company. Piper Sandler assumed coverage on Arrow Financial in a research note on Friday, June 12th. They set an “overweight” rating and a $43.00 price objective on the stock. Zacks Research upgraded Arrow Financial to a “hold” rating in a research report on Monday, June 15th. Finally, Wall Street Zen downgraded shares of Arrow Financial from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $39.83.

Arrow Financial Stock Down 1.1%

The firm has a 50 day simple moving average of $37.96 and a two-hundred day simple moving average of $35.20. 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 stock has a market capitalization of $674.71 million, a P/E ratio of 13.21 and a beta of 0.76.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.06. Arrow Financial had a return on equity of 12.38% and a net margin of 20.72%.The company had revenue of $53.39 million for the quarter, compared to analyst estimates of $43.80 million. On average, equities research analysts expect that Arrow Financial Corporation will post 3.8 earnings per share for the current year.

Arrow Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $1.20 annualized dividend and a yield of 2.9%. Arrow Financial’s payout ratio is presently 38.83%.

Insider Activity at Arrow Financial

In other news, Director Mark Behan sold 4,110 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $38.59, for a total value of $158,604.90. Following the completion of the transaction, the director owned 8,929 shares of the company’s stock, valued at approximately $344,570.11. This represents a 31.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.48% of the company’s stock.

Hedge Funds Weigh In On Arrow Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in AROW. BNP Paribas Financial Markets increased its holdings in shares of Arrow Financial by 67.2% during 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. raised its position in 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 last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Arrow Financial by 27.7% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,557 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 338 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Arrow Financial by 306.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,390 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 1,802 shares during the last quarter. Finally, LSV Asset Management acquired a new position in shares of Arrow Financial in the fourth quarter valued at approximately $75,000. Institutional investors own 46.71% of the company’s stock.

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.