Arrow Financial Corporation (AROW) to Distribute Quarterly Dividend of $0.29 on November 24th

Arrow Financial Corporation (NASDAQ:AROW) announced a quarterly dividend on Wednesday, October 29th. Shareholders of record on Wednesday, November 12th will be given a dividend of 0.29 per share by the financial services provider on Monday, November 24th. This represents a c) dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Wednesday, November 12th.

Arrow Financial has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Arrow Financial has a dividend payout ratio of 39.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Arrow Financial to earn $2.92 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 39.7%.

Arrow Financial Price Performance

Shares of NASDAQ:AROW opened at $30.05 on Monday. Arrow Financial has a 12 month low of $22.72 and a 12 month high of $34.63. The firm has a market capitalization of $494.89 million, a P/E ratio of 16.42 and a beta of 0.83. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.93 and a quick ratio of 0.93. The company’s fifty day moving average price is $28.29 and its 200 day moving average price is $27.23.

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

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.