Arrow Financial Corporation (AROW) to Issue Quarterly Dividend of $0.30 on August 25th

Arrow Financial Corporation (NASDAQ:AROW) announced a quarterly dividend on Thursday, July 23rd. Investors of record on Tuesday, August 11th will be paid a dividend of 0.30 per share by the financial services provider on Tuesday, August 25th. This represents a c) annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Tuesday, August 11th.

Arrow Financial has increased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 7 years. Arrow Financial has a payout ratio of 41.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Arrow Financial to earn $4.40 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 27.3%.

Arrow Financial Price Performance

Shares of NASDAQ AROW opened at $39.45 on Friday. Arrow Financial has a twelve month low of $25.83 and a twelve month high of $42.70. The firm has a market cap of $652.11 million, a P/E ratio of 12.73 and a beta of 0.76. The company has a 50 day moving average of $39.09 and a 200 day moving average of $36.00. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.06.

Arrow Financial (NASDAQ:AROW) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.14). Arrow Financial had a net margin of 20.56% and a return on equity of 12.25%. The business had revenue of $44.19 million during the quarter, compared to the consensus estimate of $45.51 million. As a group, research analysts expect that Arrow Financial will post 3.8 EPS for the current fiscal year.

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.