Arrow Financial (NASDAQ:AROW) Releases Quarterly Earnings Results, Misses Estimates By $0.12 EPS

Arrow Financial (NASDAQ:AROW) issued its quarterly earnings data on Thursday. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.12), Zacks reports. Arrow Financial had a net margin of 15.00% and a return on equity of 8.59%.

Arrow Financial Price Performance

Shares of Arrow Financial stock opened at $26.61 on Friday. The company has a market capitalization of $445.45 million, a price-to-earnings ratio of 13.58 and a beta of 0.77. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06. The stock’s 50-day simple moving average is $29.37 and its 200-day simple moving average is $29.51. Arrow Financial has a 52 week low of $21.50 and a 52 week high of $34.63.

Arrow Financial Increases Dividend

The firm also recently declared a dividend, which will be paid on Monday, February 24th. Shareholders of record on Tuesday, February 11th will be paid a $0.28 dividend. This represents a yield of 4.21%. The ex-dividend date is Monday, February 10th. This is a positive change from Arrow Financial’s previous dividend of $0.25. Arrow Financial’s dividend payout ratio is presently 57.14%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AROW. Hovde Group cut their price target on Arrow Financial from $34.50 to $32.00 and set a “market perform” rating for the company in a report on Friday, December 27th. Piper Sandler initiated coverage on Arrow Financial in a research note on Friday, December 20th. They set a “neutral” rating and a $32.00 price objective for the company.

Insider Buying and Selling

In other news, Director Raymond F. O’conor sold 2,000 shares of Arrow Financial stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $28.85, for a total value of $57,700.00. Following the sale, the director now directly owns 35,859 shares of the company’s stock, valued at approximately $1,034,532.15. The trade was a 5.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 6,000 shares of company stock worth $180,080. 3.55% of the stock is owned by corporate insiders.

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.