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 the firm’s 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 completion of the transaction, the director now directly owns 41,176 shares of the company’s stock, valued at $1,154,575.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Arrow Financial Trading Up 1.5 %

Shares of Arrow Financial stock opened at $28.05 on Friday. 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 business has a fifty day simple moving average of $28.91 and a two-hundred day simple moving average of $26.33. Arrow Financial Co. has a 1 year low of $16.85 and a 1 year high of $32.92. The company has a market capitalization of $468.38 million, a price-to-earnings ratio of 16.31 and a beta of 0.72.

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

Arrow Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 29th. Stockholders of record on Tuesday, October 15th will be given a $0.28 dividend. This is an increase from Arrow Financial’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, October 15th. This represents a $1.12 annualized dividend and a dividend yield of 3.99%. Arrow Financial’s dividend payout ratio is presently 62.79%.

Analysts Set New Price Targets

AROW has been the subject of a number of analyst reports. StockNews.com raised shares of Arrow Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th. Hovde Group initiated coverage on Arrow Financial in a report on Monday, September 9th. They set a “market perform” rating and a $31.00 price target for the company.

Institutional Trading of Arrow Financial

Several hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. grew its holdings in Arrow Financial by 13.7% in the 2nd quarter. American Century Companies Inc. now owns 266,651 shares of the financial services provider’s stock valued at $6,946,000 after buying an additional 32,158 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Arrow Financial by 1.4% in the first quarter. Vanguard Group Inc. now owns 795,274 shares of the financial services provider’s stock valued at $19,898,000 after acquiring an additional 10,636 shares in the last quarter. BNP Paribas Financial Markets increased its position in Arrow Financial by 90.9% during the first quarter. BNP Paribas Financial Markets now owns 7,263 shares of the financial services provider’s stock worth $182,000 after acquiring an additional 3,459 shares during the period. Empowered Funds LLC raised its stake in Arrow Financial by 7.7% in the 1st quarter. Empowered Funds LLC now owns 26,764 shares of the financial services provider’s stock worth $670,000 after purchasing an additional 1,925 shares in the last quarter. Finally, Financial Counselors Inc. raised its stake in Arrow Financial by 11.4% in the 1st quarter. Financial Counselors Inc. now owns 19,612 shares of the financial services provider’s stock worth $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.

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.