Arrow Financial Co. (NASDAQ:AROW) to Issue Dividend Increase – $0.28 Per Share

Arrow Financial Co. (NASDAQ:AROW) announced a quarterly dividend on Thursday, October 3rd, Zacks reports. Stockholders of record on Tuesday, October 15th will be given a dividend of 0.28 per share by the financial services provider on Tuesday, October 29th. This represents a $1.12 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Tuesday, October 15th. This is a boost from Arrow Financial’s previous quarterly dividend of $0.27.

Arrow Financial has increased its dividend payment by an average of 4.3% per year over the last three years. Arrow Financial has a payout ratio of 43.2% meaning its dividend is sufficiently covered by earnings.

Arrow Financial Trading Up 2.5 %

AROW traded up $0.70 during trading on Friday, reaching $28.33. 833 shares of the stock traded hands, compared to its average volume of 41,976. The stock’s 50-day moving average is $28.99 and its 200 day moving average is $26.30. Arrow Financial has a 12 month low of $16.85 and a 12 month high of $32.92. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $473.05 million, a PE ratio of 16.57 and a beta of 0.73.

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

Insider Buying and Selling 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 that occurred on 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 sale, the director now directly owns 43,176 shares of the company’s stock, valued at approximately $1,299,165.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 6,000 shares of company stock worth $172,520. 3.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.