Arrow Financial (NASDAQ:AROW) Director Purchases $49,550.16 in Stock

Arrow Financial Corporation (NASDAQ:AROW) Director Daniel James White acquired 1,644 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was bought at an average price of $30.14 per share, with a total value of $49,550.16. Following the acquisition, the director directly owned 6,890 shares of the company’s stock, valued at $207,664.60. The trade was a 31.34% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Arrow Financial Trading Down 0.2%

Shares of Arrow Financial stock traded down $0.05 during trading on Wednesday, hitting $30.93. 26,663 shares of the company were exchanged, compared to its average volume of 41,968. 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 firm has a market capitalization of $509.39 million, a P/E ratio of 16.88 and a beta of 0.83. The firm’s fifty day moving average price is $28.33 and its 200 day moving average price is $27.31. Arrow Financial Corporation has a 1-year low of $22.72 and a 1-year high of $34.51.

Arrow Financial (NASDAQ:AROW) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.05. The business 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%. As a group, sell-side analysts expect that Arrow Financial Corporation will post 2.65 earnings per share for the current fiscal year.

Arrow Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Investors of record on Wednesday, November 12th will be given a $0.29 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.8%. Arrow Financial’s dividend payout ratio is currently 56.04%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Arrow Financial by 2.0% during the third quarter. Vanguard Group Inc. now owns 889,234 shares of the financial services provider’s stock worth $25,165,000 after purchasing an additional 17,050 shares during the period. American Century Companies Inc. raised its position in Arrow Financial by 1.8% during the second quarter. American Century Companies Inc. now owns 328,677 shares of the financial services provider’s stock valued at $8,684,000 after purchasing an additional 5,679 shares in the last quarter. Rhino Investment Partners Inc lifted its stake in Arrow Financial by 3.3% during the first quarter. Rhino Investment Partners Inc now owns 196,282 shares of the financial services provider’s stock worth $5,160,000 after purchasing an additional 6,190 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of Arrow Financial by 0.5% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 118,825 shares of the financial services provider’s stock valued at $3,139,000 after purchasing an additional 538 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Arrow Financial by 9.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 85,773 shares of the financial services provider’s stock worth $2,255,000 after buying an additional 7,225 shares in the last quarter. Institutional investors and hedge funds own 46.71% of the company’s stock.

Analyst Upgrades and Downgrades

AROW has been the subject of a number of research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Arrow Financial in a research note on Wednesday, October 8th. Hovde Group raised Arrow Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $28.50 to $33.50 in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $30.75.

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.