Arrow Financial (NASDAQ:AROW) Director Mark Behan Sells 4,110 Shares of Stock

Arrow Financial Corporation (NASDAQ:AROW) Director Mark Behan sold 4,110 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $38.59, for a total value of $158,604.90. Following the completion of the sale, the director directly owned 8,929 shares of the company’s stock, valued at $344,570.11. This represents a 31.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Arrow Financial Stock Up 0.7%

Shares of NASDAQ AROW traded up $0.27 during mid-day trading on Monday, reaching $39.07. 92,512 shares of the company traded hands, compared to its average volume of 87,628. The company’s fifty day moving average is $36.93 and its two-hundred day moving average is $34.43. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.92 and a current ratio of 0.92. Arrow Financial Corporation has a fifty-two week low of $24.90 and a fifty-two week high of $40.29. The stock has a market cap of $645.79 million, a PE ratio of 12.64 and a beta of 0.77.

Arrow Financial (NASDAQ:AROW) last posted its earnings results on Thursday, April 30th. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 12.38% and a net margin of 20.72%. On average, analysts expect that Arrow Financial Corporation will post 3.8 earnings per share for the current year.

Arrow Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Tuesday, May 12th. Arrow Financial’s payout ratio is presently 38.83%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AROW. Piper Sandler assumed coverage on shares of Arrow Financial in a research note on Friday, June 12th. They issued an “overweight” rating and a $43.00 target price on the stock. Wall Street Zen lowered shares of Arrow Financial from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Zacks Research upgraded shares of Arrow Financial to a “hold” rating in a report on Monday, June 15th. Finally, Weiss Ratings raised Arrow Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Arrow Financial presently has an average rating of “Moderate Buy” and an average price target of $38.75.

Institutional Trading of Arrow Financial

Institutional investors have recently modified their holdings of the company. Arrow Financial Corp increased its position in shares of Arrow Financial by 0.8% during the fourth quarter. Arrow Financial Corp now owns 1,871,735 shares of the financial services provider’s stock valued at $58,772,000 after purchasing an additional 14,403 shares during the period. Vanguard Group Inc. lifted its position in Arrow Financial by 2.0% in the third quarter. Vanguard Group Inc. now owns 889,234 shares of the financial services provider’s stock worth $25,165,000 after purchasing an additional 17,050 shares during the period. Dimensional Fund Advisors LP boosted its stake in Arrow Financial by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 730,471 shares of the financial services provider’s stock worth $24,522,000 after buying an additional 1,937 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Arrow Financial by 1.2% during the fourth quarter. Renaissance Technologies LLC now owns 252,205 shares of the financial services provider’s stock worth $7,919,000 after buying an additional 2,917 shares in the last quarter. Finally, Rhino Investment Partners Inc increased its holdings in Arrow Financial by 13.9% in the 3rd quarter. Rhino Investment Partners Inc now owns 227,804 shares of the financial services provider’s stock valued at $6,447,000 after buying an additional 27,856 shares during the period. 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.