Arrow Financial (NASDAQ:AROW) CFO Acquires $48,308.40 in Stock

Arrow Financial Corporation (NASDAQ:AROW) CFO Penko Krassimir Ivanov acquired 1,620 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were purchased at an average price of $29.82 per share, with a total value of $48,308.40. Following the completion of the acquisition, the chief financial officer owned 26,394 shares of the company’s stock, valued at $787,069.08. This represents a 6.54% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Penko Krassimir Ivanov also recently made the following trade(s):

• On Wednesday, September 10th, Penko Krassimir Ivanov bought 5,000 shares of Arrow Financial stock. The stock was purchased at an average price of $29.10 per share, for a total transaction of $145,500.00.
• On Wednesday, August 27th, Penko Krassimir Ivanov bought 10,922 shares of Arrow Financial stock. The stock was purchased at an average cost of $29.46 per share, for a total transaction of $321,762.12.
• On Tuesday, August 26th, Penko Krassimir Ivanov purchased 1,078 shares of Arrow Financial stock. The shares were purchased at an average price of $29.46 per share, with a total value of $31,757.88.

Arrow Financial Trading Down 0.3%

Shares of NASDAQ AROW opened at $30.05 on Friday. The business has a 50 day simple moving average of $28.29 and a 200 day simple moving average of $27.20. Arrow Financial Corporation has a 52 week low of $22.72 and a 52 week high of $34.63. The stock has a market cap of $494.89 million, a price-to-earnings ratio of 16.42 and a beta of 0.83. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.93 and a current ratio of 0.93.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.05. The firm had revenue of $8.07 million for the quarter, compared to analyst estimates of $41.00 million. Arrow Financial had a net margin of 13.28% and a return on equity of 8.64%. On average, research analysts predict that Arrow Financial Corporation will post 2.65 earnings per share for the current fiscal year.

Arrow Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Investors of record on Wednesday, November 12th will be issued a $0.29 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $1.16 dividend on an annualized basis and a yield of 3.9%. Arrow Financial’s dividend payout ratio is currently 56.04%.

Analyst Ratings Changes

Several research firms have commented on AROW. Wall Street Zen raised shares of Arrow Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Hovde Group raised Arrow Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $28.50 to $33.50 in a report on Friday, October 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Arrow Financial in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $30.75.

Institutional Investors Weigh In On Arrow Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its position in shares of 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 worth $43,000 after purchasing an additional 648 shares during the last quarter. CWM LLC increased its position in Arrow Financial by 159.5% in the 3rd 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. Tower Research Capital LLC TRC lifted its holdings in shares of Arrow Financial by 306.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,390 shares of the financial services provider’s stock worth $63,000 after buying an additional 1,802 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Arrow Financial during the second quarter worth approximately $198,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Arrow Financial by 4.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,796 shares of the financial services provider’s stock valued at $258,000 after acquiring an additional 390 shares during the period. 46.71% of the stock is owned by institutional investors and hedge funds.

Arrow Financial Company Profile

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.