Arrow Financial (NASDAQ:AROW) Raised to Strong-Buy at Piper Sandler

Arrow Financial (NASDAQ:AROW) was upgraded by investment analysts at Piper Sandler to a “strong-buy” rating in a research report issued on Friday,Zacks.com reports.

Several other equities research analysts have also commented on AROW. Weiss Ratings upgraded Arrow Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, April 27th. Wall Street Zen cut Arrow Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $38.75.

Arrow Financial Stock Up 4.6%

Shares of AROW opened at $39.86 on Friday. Arrow Financial has a fifty-two week low of $24.57 and a fifty-two week high of $39.90. The company’s fifty day moving average is $36.52 and its two-hundred day moving average is $34.10. The firm has a market cap of $658.89 million, a PE ratio of 12.90 and a beta of 0.77. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.06.

Arrow Financial (NASDAQ:AROW) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.06. The business had revenue of $53.39 million during the quarter, compared to the consensus estimate of $43.80 million. Arrow Financial had a return on equity of 12.38% and a net margin of 20.72%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Arrow Financial Corp grew its stake in shares of Arrow Financial by 0.8% in 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 buying an additional 14,403 shares in the last quarter. Vanguard Group Inc. lifted its position in Arrow Financial by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 889,234 shares of the financial services provider’s stock worth $25,165,000 after acquiring an additional 17,050 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Arrow Financial by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 730,471 shares of the financial services provider’s stock worth $24,522,000 after acquiring an additional 1,937 shares during the period. Renaissance Technologies LLC boosted its holdings in Arrow Financial by 1.2% in the 4th quarter. Renaissance Technologies LLC now owns 252,205 shares of the financial services provider’s stock worth $7,919,000 after acquiring an additional 2,917 shares during the period. Finally, Rhino Investment Partners Inc grew its position in Arrow Financial by 13.9% in the third quarter. Rhino Investment Partners Inc now owns 227,804 shares of the financial services provider’s stock valued at $6,447,000 after acquiring an additional 27,856 shares in the last quarter. Institutional investors and hedge funds own 46.71% of the company’s stock.

About Arrow Financial

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.