Arrow Financial (NASDAQ:AROW) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of Arrow Financial (NASDAQ:AROW) from a buy rating to a hold rating in a research report released on Saturday.

Several other equities analysts have also issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Arrow Financial in a research note on Monday, December 29th. Hovde Group upgraded shares of Arrow Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $28.50 to $33.50 in a research report on Friday, October 31st. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.75.

Arrow Financial Stock Performance

Shares of AROW opened at $31.30 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06. The firm’s fifty day simple moving average is $30.61 and its two-hundred day simple moving average is $28.72. Arrow Financial has a 12 month low of $22.72 and a 12 month high of $33.56. The stock has a market capitalization of $514.57 million, a P/E ratio of 15.12 and a beta of 0.82.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.05. Arrow Financial had a return on equity of 9.46% and a net margin of 14.65%.The firm had revenue of $8.07 million during the quarter, compared to analyst estimates of $41.00 million. As a group, analysts predict that Arrow Financial will post 2.65 EPS for the current year.

Arrow Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Wednesday, November 12th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Wednesday, November 12th. Arrow Financial’s payout ratio is 56.04%.

Insider Buying and Selling at Arrow Financial

In other Arrow Financial news, CFO Penko Krassimir Ivanov purchased 1,620 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were acquired at an average price of $29.82 per share, with a total value of $48,308.40. Following the transaction, the chief financial officer owned 26,394 shares in the company, valued at $787,069.08. The trade was a 6.54% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David S. Demarco purchased 3,035 shares of the business’s stock in a transaction on Wednesday, December 24th. The shares were bought at an average price of $31.78 per share, with a total value of $96,452.30. Following the purchase, the chief executive officer directly owned 3,035 shares in the company, valued at approximately $96,452.30. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 6,299 shares of company stock valued at $194,311. Corporate insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its position in Arrow Financial by 18.4% in the third quarter. JPMorgan Chase & Co. now owns 20,197 shares of the financial services provider’s stock worth $572,000 after buying an additional 3,141 shares during the last quarter. Millennium Management LLC purchased a new stake in Arrow Financial in the 3rd quarter worth about $834,000. Two Sigma Investments LP increased its holdings in Arrow Financial by 29.3% in the 3rd quarter. Two Sigma Investments LP now owns 61,486 shares of the financial services provider’s stock worth $1,740,000 after acquiring an additional 13,919 shares during the last quarter. Rhino Investment Partners Inc lifted its holdings in Arrow Financial by 13.9% during the third quarter. Rhino Investment Partners Inc now owns 227,804 shares of the financial services provider’s stock valued at $6,447,000 after purchasing an additional 27,856 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Arrow Financial by 100.0% during the third quarter. BNP Paribas Financial Markets now owns 3,224 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 1,612 shares during the last quarter. 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.