Arrow Financial Corporation (NASDAQ:AROW) Short Interest Update
by Sarita Garza · The Markets DailyArrow Financial Corporation (NASDAQ:AROW – Get Free Report) was the target of a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 139,839 shares, a growth of 35.8% from the February 12th total of 102,968 shares. Approximately 0.9% of the company’s shares are sold short. Based on an average daily trading volume, of 71,558 shares, the short-interest ratio is presently 2.0 days. Based on an average daily trading volume, of 71,558 shares, the short-interest ratio is presently 2.0 days. Approximately 0.9% of the company’s shares are sold short.
Arrow Financial Stock Down 0.6%
Shares of NASDAQ:AROW traded down $0.21 during midday trading on Friday, hitting $32.48. 94,033 shares of the company’s stock traded hands, compared to its average volume of 93,274. The firm’s fifty day moving average price is $33.61 and its two-hundred day moving average price is $30.95. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.93 and a current ratio of 0.92. Arrow Financial has a twelve month low of $22.72 and a twelve month high of $36.44. The company has a market cap of $536.24 million, a PE ratio of 12.26 and a beta of 0.81.
Arrow Financial (NASDAQ:AROW – Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.04. Arrow Financial had a return on equity of 10.77% and a net margin of 18.12%.The firm had revenue of $43.65 million during the quarter, compared to the consensus estimate of $43.40 million. On average, equities research analysts anticipate that Arrow Financial will post 2.65 EPS for the current fiscal year.
Arrow Financial Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, February 11th. This is an increase from Arrow Financial’s previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.7%. Arrow Financial’s dividend payout ratio is presently 45.28%.
Analysts Set New Price Targets
AROW has been the topic of a number of research analyst reports. Weiss Ratings upgraded Arrow Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Wall Street Zen upgraded Arrow Financial from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Finally, Hovde Group lifted their price objective on Arrow Financial from $33.50 to $34.50 and gave the company a “market perform” rating in a research note on Monday, February 2nd. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Arrow Financial has a consensus rating of “Hold” and an average price target of $31.25.
Check Out Our Latest Research Report on AROW
Insider Transactions at Arrow Financial
In other Arrow Financial news, CEO David S. Demarco purchased 3,035 shares of the business’s stock in a transaction on Wednesday, December 24th. The stock was bought at an average cost of $31.78 per share, for a total transaction of $96,452.30. Following the acquisition, the chief executive officer owned 3,035 shares of the company’s stock, valued at approximately $96,452.30. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.28% of the company’s stock.
Institutional Investors Weigh In On Arrow Financial
A number of large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in shares of Arrow Financial by 2,045.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,523 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 1,452 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in Arrow Financial by 27.7% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,557 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 338 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Arrow Financial by 67.2% in the second quarter. BNP Paribas Financial Markets now owns 1,612 shares of the financial services provider’s stock valued at $43,000 after buying an additional 648 shares during the last quarter. CWM LLC increased its holdings in Arrow Financial by 159.5% in the third quarter. CWM LLC now owns 1,754 shares of the financial services provider’s stock valued at $50,000 after buying an additional 1,078 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in Arrow Financial by 306.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,390 shares of the financial services provider’s stock valued at $63,000 after buying an additional 1,802 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 is a bank holding company headquartered in Glens Falls, New York, that conducts its primary operations through its subsidiary, Glens Falls National Bank & Trust Company. The company provides a comprehensive suite of retail and commercial banking services, including checking and savings accounts, consumer and commercial lending, mortgage financing, and cash management solutions. Through its branch network, Arrow Financial serves individuals, small- and medium-sized businesses, and nonprofit organizations across the Adirondack region, Upper Hudson Valley, Mohawk Valley and parts of Central New York.
In addition to traditional banking, Arrow Financial has developed a robust wealth management and trust services division.