Arrow Financial (NASDAQ:AROW) Now Covered by Piper Sandler

Piper Sandler began coverage on shares of Arrow Financial (NASDAQ:AROW) in a report released on Friday, MarketBeat Ratings reports. The firm issued a neutral rating and a $32.00 target price on the financial services provider’s stock.

Separately, Hovde Group began coverage on Arrow Financial in a research report on Monday, September 9th. They issued a “market perform” rating and a $31.00 target price on the stock.

Arrow Financial Stock Up 1.2 %

Shares of AROW opened at $29.00 on Friday. The stock has a fifty day simple moving average of $31.18 and a two-hundred day simple moving average of $29.10. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $485.43 million, a PE ratio of 14.80 and a beta of 0.75. Arrow Financial has a 52-week low of $21.50 and a 52-week high of $34.63.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.53. The business had revenue of $57.58 million during the quarter. Arrow Financial had a net margin of 15.00% and a return on equity of 8.59%.

Arrow Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Tuesday, October 15th were issued a $0.28 dividend. This is a positive change from Arrow Financial’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend was Tuesday, October 15th. Arrow Financial’s dividend payout ratio is currently 57.14%.

Insider Buying and Selling

In other Arrow Financial news, Director Raymond F. O’conor sold 2,000 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $28.50, for a total transaction of $57,000.00. Following the transaction, the director now directly owns 39,496 shares in the company, valued at $1,125,636. This represents a 4.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders sold 6,000 shares of company stock valued at $178,460. Company insiders own 3.55% of the company’s stock.

Institutional Trading of Arrow Financial

Several hedge funds have recently made changes to their positions in AROW. BNP Paribas Financial Markets grew its holdings in shares of Arrow Financial by 13.0% in the third quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider’s stock valued at $99,000 after purchasing an additional 398 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Arrow Financial during the 3rd quarter worth approximately $164,000. Carl P. Sherr & Co. LLC purchased a new position in Arrow Financial in the 3rd quarter valued at approximately $216,000. IFG Advisory LLC acquired a new position in shares of Arrow Financial in the second quarter worth $207,000. Finally, Atria Investments Inc increased its position in shares of Arrow Financial by 32.6% during the third quarter. Atria Investments Inc now owns 16,856 shares of the financial services provider’s stock worth $483,000 after acquiring an additional 4,148 shares during the period. Institutional investors and hedge funds own 46.71% of the company’s stock.

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.