Insider Selling: Arrow Financial Co. (NASDAQ:AROW) Director Sells $47,560.00 in Stock

Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $23.78, for a total transaction of $47,560.00. Following the transaction, the director now directly owns 29,293 shares in the company, valued at approximately $696,587.54. This represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Arrow Financial Trading Up 3.9 %

AROW opened at $25.35 on Friday. The stock has a market capitalization of $422.61 million, a price-to-earnings ratio of 14.32 and a beta of 0.78. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06. Arrow Financial Co. has a twelve month low of $22.72 and a twelve month high of $34.63. The company has a 50-day simple moving average of $25.45 and a 200 day simple moving average of $27.96.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings results on Thursday, May 1st. The financial services provider reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.06). The firm had revenue of $50.37 million for the quarter, compared to the consensus estimate of $39.26 million. Arrow Financial had a return on equity of 8.59% and a net margin of 13.32%. Analysts predict that Arrow Financial Co. will post 2.65 EPS for the current fiscal year.

Arrow Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th will be paid a $0.28 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.12 annualized dividend and a dividend yield of 4.42%. Arrow Financial’s payout ratio is 65.88%.

Hedge Funds Weigh In On Arrow Financial

Institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in Arrow Financial in the fourth quarter valued at about $1,072,000. American Century Companies Inc. boosted its stake in shares of Arrow Financial by 4.3% in the 4th quarter. American Century Companies Inc. now owns 304,964 shares of the financial services provider’s stock valued at $8,756,000 after purchasing an additional 12,581 shares in the last quarter. Citizens Financial Group Inc. RI bought a new stake in shares of Arrow Financial during the 4th quarter valued at approximately $319,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Arrow Financial by 42.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 78,548 shares of the financial services provider’s stock worth $2,255,000 after purchasing an additional 23,498 shares in the last quarter. Finally, Barclays PLC lifted its stake in Arrow Financial by 251.9% in the 3rd quarter. Barclays PLC now owns 21,411 shares of the financial services provider’s stock valued at $614,000 after purchasing an additional 15,327 shares during the last quarter. Institutional investors and hedge funds own 46.71% of the company’s stock.

Analyst Ratings Changes

AROW has been the topic of several recent research reports. StockNews.com raised shares of Arrow Financial from a “sell” rating to a “hold” rating in a report on Friday. Piper Sandler lowered their price objective on Arrow Financial from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th.

About Arrow Financial

Arrow Financial Corporation, a bank holding company, provides commercial and consumer banking, and financial products and services. The company’s deposit products include demand deposits, interest-bearing checking accounts, savings deposits, time deposits, and other time deposits. Its lending activities comprise commercial loans, such as term loans, time notes, and lines of credit; and commercial real estate loans to finance real estate purchases, refinancing, expansions, and enhancement to commercial properties, as well as commercial construction and land development loans to finance projects.