Insider Selling: Arrow Financial Co. (NASDAQ:AROW) Director Sells 2,000 Shares of Stock

Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 2,000 shares of Arrow Financial stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $28.04, for a total transaction of $56,080.00. Following the transaction, the director now owns 41,176 shares in the company, valued at approximately $1,154,575.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Arrow Financial Stock Performance

Shares of Arrow Financial stock traded up $0.35 during trading hours on Wednesday, reaching $28.20. The company’s stock had a trading volume of 4,007 shares, compared to its average volume of 42,227. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.92 and a current ratio of 0.92. Arrow Financial Co. has a one year low of $16.70 and a one year high of $32.92. The company’s 50 day simple moving average is $29.15 and its 200 day simple moving average is $26.28. The stock has a market cap of $470.88 million, a P/E ratio of 16.19 and a beta of 0.73.

Arrow Financial (NASDAQ:AROW) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.52 EPS 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 12th were given a dividend of $0.27 per share. The ex-dividend date was Monday, August 12th. This represents a $1.08 annualized dividend and a dividend yield of 3.83%. Arrow Financial’s dividend payout ratio is currently 62.79%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AROW. StockNews.com raised shares of Arrow Financial from a “sell” rating to a “hold” rating in a report on Tuesday, July 30th. Hovde Group assumed coverage on Arrow Financial in a research note on Monday, September 9th. They issued a “market perform” rating and a $31.00 price target for the company.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AROW. Acadian Asset Management LLC bought a new stake in shares of Arrow Financial during the first quarter valued at approximately $157,000. BNP Paribas Financial Markets raised its stake 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 acquiring an additional 3,459 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new position in shares of Arrow Financial in the first quarter worth $201,000. IFG Advisory LLC acquired a new position in shares of Arrow Financial during the second quarter valued at $207,000. Finally, Financial Counselors Inc. raised its stake in shares of Arrow Financial by 11.4% during the first quarter. Financial Counselors Inc. now owns 19,612 shares of the financial services provider’s stock valued at $491,000 after purchasing an additional 2,000 shares in the last quarter. 46.71% of the stock is owned by institutional investors and hedge funds.

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.