Arrow Financial Co. (NASDAQ:AROW) Short Interest Up 9.8% in August

Arrow Financial Co. (NASDAQ:AROW) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 207,100 shares, an increase of 9.8% from the August 15th total of 188,600 shares. Based on an average daily volume of 44,200 shares, the days-to-cover ratio is presently 4.7 days.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AROW shares. StockNews.com upgraded Arrow Financial from a “sell” rating to a “hold” rating in a report on Tuesday, July 30th. Hovde Group began coverage on Arrow Financial in a research note on Monday, September 9th. They set a “market perform” rating and a $31.00 target price on the stock.

Arrow Financial Price Performance

AROW stock traded down $0.05 during mid-day trading on Wednesday, reaching $29.12. 7,356 shares of the company traded hands, compared to its average volume of 41,703. The company has a market capitalization of $486.25 million, a P/E ratio of 16.96 and a beta of 0.73. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.92 and a quick ratio of 0.92. The company has a fifty day moving average price of $29.21 and a 200-day moving average price of $25.97. Arrow Financial has a 52-week low of $16.65 and a 52-week high of $32.92.

Arrow Financial (NASDAQ:AROW) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.52 earnings per share for the quarter. The company had revenue of $55.83 million during the quarter. Arrow Financial had a return on equity of 8.46% and a net margin of 14.94%.

Arrow Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 12th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.08 annualized dividend and a dividend yield of 3.71%. Arrow Financial’s dividend payout ratio (DPR) is presently 62.79%.

Insider Activity at Arrow Financial

In other Arrow Financial news, Director Raymond F. O’conor sold 2,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $30.09, for a total transaction of $60,180.00. Following the completion of the transaction, the director now owns 43,176 shares of the company’s stock, valued at $1,299,165.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Arrow Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new position in Arrow Financial in the first quarter valued at about $157,000. BNP Paribas Financial Markets grew its holdings in Arrow Financial by 90.9% during the 1st quarter. BNP Paribas Financial Markets now owns 7,263 shares of the financial services provider’s stock valued at $182,000 after buying an additional 3,459 shares in the last quarter. IFG Advisory LLC purchased a new position in Arrow Financial during the 2nd quarter valued at approximately $207,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Arrow Financial in the 1st quarter valued at approximately $201,000. Finally, Financial Counselors Inc. lifted its stake in shares of Arrow Financial by 11.4% during the 1st quarter. Financial Counselors Inc. now owns 19,612 shares of the financial services provider’s stock worth $491,000 after acquiring an additional 2,000 shares during the last quarter. 46.71% of the stock is owned by hedge funds and other institutional investors.

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.