Arrow Financial Co. (NASDAQ:AROW) Sees Large Decline in Short Interest

Arrow Financial Co. (NASDAQ:AROW) was the recipient of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 114,900 shares, a decrease of 8.3% from the November 30th total of 125,300 shares. Based on an average daily trading volume, of 38,900 shares, the short-interest ratio is currently 3.0 days.

Wall Street Analyst Weigh In

AROW has been the subject of several recent analyst reports. Hovde Group decreased their price objective on shares of Arrow Financial from $34.50 to $32.00 and set a “market perform” rating for the company in a report on Friday. Piper Sandler began coverage on shares of Arrow Financial in a research note on Friday, December 20th. They set a “neutral” rating and a $32.00 price target for the company.

Insider Buying and Selling

In other Arrow Financial news, Director Raymond F. O’conor sold 2,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $32.69, for a total transaction of $65,380.00. Following the transaction, the director now directly owns 37,859 shares of the company’s stock, valued at $1,237,610.71. This represents a 5.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arrow Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of AROW. BNP Paribas Financial Markets boosted its stake in Arrow Financial by 13.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider’s stock worth $99,000 after acquiring an additional 398 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Arrow Financial in the 3rd quarter valued at about $164,000. IFG Advisory LLC bought a new stake in shares of Arrow Financial in the second quarter valued at about $207,000. Carl P. Sherr & Co. LLC acquired a new position in shares of Arrow Financial during the third quarter worth about $216,000. Finally, Atria Investments Inc grew its holdings 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 buying an additional 4,148 shares in the last quarter. 46.71% of the stock is owned by institutional investors.

Arrow Financial Price Performance

Shares of AROW stock opened at $28.55 on Tuesday. The stock’s fifty day moving average is $31.12 and its 200-day moving average is $29.28. 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 has a 52 week low of $21.50 and a 52 week high of $34.63. The stock has a market capitalization of $477.90 million, a PE ratio of 14.57 and a beta of 0.75.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings data on Thursday, October 31st. The financial services provider reported $0.53 earnings per share for the quarter, meeting the consensus estimate of $0.53. Arrow Financial had a net margin of 15.00% and a return on equity of 8.59%. The firm had revenue of $57.58 million during the quarter.

Arrow Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 29th. Shareholders of record on Tuesday, October 15th were issued a dividend of $0.28 per share. This is a boost from Arrow Financial’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend was Tuesday, October 15th. Arrow Financial’s payout ratio is currently 57.14%.

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.