Arrow Financial (NASDAQ:AROW) Cut to Sell at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen cut shares of Arrow Financial (NASDAQ:AROW – Free Report) from a hold rating to a sell rating in a report published on Friday.

Separately, Piper Sandler decreased their target price on Arrow Financial from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Monday, May 5th.

Read Our Latest Report on Arrow Financial

Arrow Financial Stock Up 0.4%

Shares of NASDAQ:AROW opened at $26.74 on Friday. The stock’s 50-day moving average price is $25.67 and its two-hundred day moving average price is $26.38. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06. Arrow Financial has a 12-month low of $22.72 and a 12-month high of $34.63. The firm has a market cap of $445.76 million, a price-to-earnings ratio of 15.73 and a beta of 0.78.

Arrow Financial (NASDAQ:AROW – Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.06). Arrow Financial had a net margin of 12.51% and a return on equity of 8.01%. The firm had revenue of $50.37 million for the quarter, compared to analysts’ expectations of $39.26 million. On average, research analysts forecast that Arrow Financial will post 2.65 EPS for the current year.

Arrow Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 4.19%. The ex-dividend date was Tuesday, May 13th. Arrow Financial’s payout ratio is currently 65.88%.

Insider Buying and Selling at Arrow Financial

In other news, Director Raymond F. O’conor sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $23.78, for a total transaction of $47,560.00. Following the sale, the director now directly owns 29,293 shares in the company, valued at approximately $696,587.54. This represents a 6.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arrow Financial

Several hedge funds have recently modified their holdings of AROW. Raymond James Financial Inc. bought a new stake in shares of Arrow Financial during the 4th quarter worth $1,072,000. GAMMA Investing LLC boosted its stake in shares of Arrow Financial by 3,616.8% during the 1st quarter. GAMMA Investing LLC now owns 23,267 shares of the financial services provider’s stock worth $6,120,000 after acquiring an additional 22,641 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Arrow Financial by 4.3% during the 4th quarter. American Century Companies Inc. now owns 304,964 shares of the financial services provider’s stock worth $8,756,000 after acquiring an additional 12,581 shares in the last quarter. Hsbc Holdings PLC bought a new stake in shares of Arrow Financial during the 4th quarter worth $357,000. Finally, Citizens Financial Group Inc. RI bought a new stake in shares of Arrow Financial during the 4th quarter worth $319,000. 46.71% of the stock is currently owned by institutional investors and hedge funds.

Arrow Financial Company Profile

(Get Free Report)

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.

Featured Articles