Arrow Financial Corporation (NASDAQ:AROW) Stock Has Consensus Target Price of $41.62 According to Analysts

Shares of Arrow Financial Corporation (NASDAQ:AROW) have received a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $41.62.

Several research firms have recently issued reports on AROW. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Arrow Financial in a research report on Friday, July 24th. Piper Sandler reaffirmed an “overweight” rating and issued a $46.00 price target (up from $43.00) on shares of Arrow Financial in a report on Tuesday, July 28th. Zacks Research raised shares of Arrow Financial to a “hold” rating in a report on Monday, June 15th. Raymond James Financial started coverage on Arrow Financial in a research report on Tuesday, September 1st. They issued an “outperform” rating and a $44.00 target price on the stock. Finally, Keefe, Bruyette & Woods began coverage on Arrow Financial in a research report on Thursday, June 25th. They set a “market perform” rating and a $42.00 price target for the company.

Arrow Financial Stock Performance

Shares of AROW stock opened at $36.60 on Friday. Arrow Financial has a 12-month low of $25.88 and a 12-month high of $42.70. The business’s fifty day simple moving average is $38.52 and its 200-day simple moving average is $37.92. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.06. The company has a market cap of $677.83 million, a PE ratio of 11.81 and a beta of 0.76.

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

Arrow Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.3%. The ex-dividend date was Tuesday, August 11th. Arrow Financial’s dividend payout ratio is 38.71%.

Institutional Trading of Arrow Financial

Several large investors have recently made changes to their positions in AROW. BlackRock Inc. acquired a new position in shares of Arrow Financial in the 2nd quarter valued at about $57,377,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Arrow Financial in the second quarter valued at approximately $4,995,000. Bank of New York Mellon Corp acquired a new position in Arrow Financial in the second quarter valued at approximately $3,663,000. Trust Co. of Vermont purchased a new stake in Arrow Financial in the 2nd quarter worth approximately $2,228,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in Arrow Financial by 71.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 114,449 shares of the financial services provider’s stock worth $3,842,000 after purchasing an additional 47,752 shares in the last quarter. 46.71% of the stock is owned by hedge funds and other institutional investors.

About Arrow Financial

Arrow Financial Corporation is a bank holding company headquartered in Glens Falls, New York. Through its banking subsidiaries, including Glens Falls National Bank and Trust Company and Saratoga National Bank and Trust Company, the company provides financial services to individuals, families, businesses, municipalities and nonprofit organizations.

Arrow’s principal offerings include checking and savings accounts, certificates of deposit, residential and commercial mortgages, consumer and business loans, credit products, cash-management services and online banking.