Insider Buying: Arrow Financial Co. (NASDAQ:AROW) Director Acquires 3,668 Shares of Stock

Arrow Financial Co. (NASDAQ:AROW) Director Daniel James White acquired 3,668 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was bought at an average cost of $27.23 per share, with a total value of $99,879.64. Following the acquisition, the director now owns 4,338 shares in the company, valued at $118,123.74. The trade was a 547.46 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Arrow Financial Stock Up 3.4 %

AROW opened at $26.93 on Wednesday. Arrow Financial Co. has a 1-year low of $21.50 and a 1-year high of $34.63. The stock’s fifty day simple moving average is $29.08 and its 200 day simple moving average is $29.46. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06. The stock has a market cap of $450.81 million, a PE ratio of 15.21 and a beta of 0.76.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.12). Arrow Financial had a return on equity of 8.59% and a net margin of 13.32%. As a group, research analysts expect that Arrow Financial Co. will post 2.7 earnings per share for the current year.

Arrow Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, February 10th will be given a dividend of $0.28 per share. This is a boost from Arrow Financial’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, February 10th. This represents a $1.12 annualized dividend and a yield of 4.16%. Arrow Financial’s dividend payout ratio (DPR) is presently 63.28%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its position in Arrow Financial by 13.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider’s stock worth $99,000 after buying an additional 398 shares during the period. SG Americas Securities LLC bought a new position in shares of Arrow Financial in the third quarter worth $164,000. Carl P. Sherr & Co. LLC bought a new position in shares of Arrow Financial in the third quarter worth $216,000. Atria Investments Inc increased its position in shares of Arrow Financial by 32.6% in the third quarter. Atria Investments Inc now owns 16,856 shares of the financial services provider’s stock worth $483,000 after purchasing an additional 4,148 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Arrow Financial by 137.8% in the third quarter. JPMorgan Chase & Co. now owns 18,702 shares of the financial services provider’s stock worth $536,000 after purchasing an additional 10,838 shares during the period. Institutional investors own 46.71% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Piper Sandler dropped their price target on Arrow Financial from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday. Hovde Group dropped their price target on Arrow Financial from $34.50 to $32.00 and set a “market perform” rating on the stock in a research note on Friday, December 27th.

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.