Arrow Financial (NASDAQ:AROW) Shares Pass Above 200-Day Moving Average – What’s Next?

Arrow Financial Corporation (NASDAQ:AROW)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $33.03 and traded as high as $35.60. Arrow Financial shares last traded at $35.19, with a volume of 65,829 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Hovde Group lifted their price objective on shares of Arrow Financial from $33.50 to $34.50 and gave the stock a “market perform” rating in a research note on Monday, February 2nd. Wall Street Zen downgraded shares of Arrow Financial from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings upgraded shares of Arrow Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Arrow Financial presently has a consensus rating of “Moderate Buy” and an average target price of $34.50.

Arrow Financial Stock Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a fifty day moving average price of $34.85 and a two-hundred day moving average price of $33.03. The stock has a market capitalization of $581.66 million, a PE ratio of 11.39 and a beta of 0.78.

Arrow Financial (NASDAQ:AROW) last issued its earnings results on Thursday, April 30th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.06. The firm had revenue of $53.39 million during the quarter, compared to analyst estimates of $43.80 million. Arrow Financial had a net margin of 20.72% and a return on equity of 12.38%.

Arrow Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, May 12th. This represents a $1.20 dividend on an annualized basis and a yield of 3.4%. Arrow Financial’s payout ratio is 38.83%.

Institutional Trading of Arrow Financial

Several institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its position in Arrow Financial by 67.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,612 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 648 shares during the period. Russell Investments Group Ltd. increased its holdings in Arrow Financial by 2,045.1% during the third quarter. Russell Investments Group Ltd. now owns 1,523 shares of the financial services provider’s stock valued at $43,000 after buying an additional 1,452 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in Arrow Financial by 27.7% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,557 shares of the financial services provider’s stock worth $49,000 after buying an additional 338 shares in the last quarter. CWM LLC lifted its holdings in Arrow Financial by 159.5% during the third quarter. CWM LLC now owns 1,754 shares of the financial services provider’s stock worth $50,000 after buying an additional 1,078 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in Arrow Financial by 306.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,390 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 1,802 shares in the last quarter. 46.71% of the stock is currently owned by institutional investors.

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.