Arrow Financial Corporation (NASDAQ:AROW) Receives Consensus Rating of “Moderate Buy” from Analysts

Arrow Financial Corporation (NASDAQ:AROW) has been assigned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $41.6250.

A number of research firms recently issued reports on AROW. Keefe, Bruyette & Woods started coverage on Arrow Financial in a report on Thursday, June 25th. They issued a “market perform” rating and a $42.00 price target for the company. Raymond James Financial began coverage on shares of Arrow Financial in a report on Tuesday, September 1st. They set an “outperform” rating and a $44.00 price objective on the stock. Wall Street Zen cut shares of Arrow Financial from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $46.00 target price (up from $43.00) on shares of Arrow Financial in a research note on Tuesday, July 28th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Arrow Financial in a research report on Friday, July 24th.

Arrow Financial Trading Up 0.2%

AROW stock opened at $39.15 on Tuesday. The business has a fifty day moving average price of $39.62 and a 200 day moving average price of $37.32. Arrow Financial has a fifty-two week low of $25.88 and a fifty-two week high of $42.70. The stock has a market capitalization of $725.06 million, a price-to-earnings ratio of 12.63 and a beta of 0.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.92 and a quick ratio of 0.92.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.14). The business had revenue of $44.19 million during the quarter, compared to analyst estimates of $45.51 million. Arrow Financial had a return on equity of 12.13% and a net margin of 20.56%. Analysts expect that Arrow Financial will post 3.53 EPS for the current fiscal year.

Arrow Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.1%. The ex-dividend date was Tuesday, August 11th. Arrow Financial’s payout ratio is 38.71%.

Insider Transactions at Arrow Financial

In other Arrow Financial news, Director Mark Behan sold 4,110 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $38.59, for a total value of $158,604.90. Following the transaction, the director directly owned 8,929 shares in the company, valued at approximately $344,570.11. This trade represents a 31.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.48% of the company’s stock.

Hedge Funds Weigh In On Arrow Financial

Several large investors have recently made changes to their positions in AROW. Arrow Financial Corp increased its position in Arrow Financial by 0.8% in the fourth quarter. Arrow Financial Corp now owns 1,871,735 shares of the financial services provider’s stock worth $58,772,000 after purchasing an additional 14,403 shares during the period. BlackRock Inc. acquired a new position in Arrow Financial during the 2nd quarter valued at about $57,377,000. Vanguard Group Inc. lifted its position in Arrow Financial by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 889,234 shares of the financial services provider’s stock valued at $25,165,000 after purchasing an additional 17,050 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Arrow Financial by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 730,471 shares of the financial services provider’s stock valued at $24,522,000 after purchasing an additional 1,937 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Arrow Financial by 1.2% in the 4th quarter. Renaissance Technologies LLC now owns 252,205 shares of the financial services provider’s stock valued at $7,919,000 after purchasing an additional 2,917 shares during the last quarter. Institutional investors and hedge funds 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.