Arrow Financial (NASDAQ:AROW) Downgraded by StockNews.com

StockNews.com lowered shares of Arrow Financial (NASDAQ:AROW) from a hold rating to a sell rating in a research report report published on Wednesday.

Separately, Hovde Group initiated coverage on Arrow Financial in a research note on Tuesday, January 9th. They set a market perform rating on the stock.

Arrow Financial Trading Up 1.0 %

NASDAQ AROW opened at $23.66 on Wednesday. Arrow Financial has a one year low of $16.65 and a one year high of $29.66. The firm has a 50 day simple moving average of $23.65 and a 200-day simple moving average of $24.52. The firm has a market cap of $394.93 million, a price-to-earnings ratio of 13.76 and a beta of 0.72. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.90 and a current ratio of 0.90.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). The firm had revenue of $54.54 million during the quarter, compared to analysts’ expectations of $33.29 million. Arrow Financial had a return on equity of 7.95% and a net margin of 14.34%. Equities research analysts anticipate that Arrow Financial will post 2.29 EPS for the current fiscal year.

Arrow Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 13th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.56%. The ex-dividend date is Friday, May 10th. Arrow Financial’s dividend payout ratio (DPR) is presently 62.79%.

Institutional Trading of Arrow Financial

Institutional investors have recently modified their holdings of the business. Arrow Financial Corp boosted its stake in shares of Arrow Financial by 1.1% during the 4th quarter. Arrow Financial Corp now owns 1,726,525 shares of the financial services provider’s stock worth $48,239,000 after acquiring an additional 18,937 shares in the last quarter. Franklin Resources Inc. boosted its position in Arrow Financial by 7.2% during the fourth quarter. Franklin Resources Inc. now owns 134,806 shares of the financial services provider’s stock worth $3,766,000 after purchasing an additional 9,094 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Arrow Financial by 4.9% in the third quarter. Bank of New York Mellon Corp now owns 121,171 shares of the financial services provider’s stock valued at $2,062,000 after purchasing an additional 5,635 shares during the last quarter. Johnson Investment Counsel Inc. lifted its holdings in shares of Arrow Financial by 3.0% in the third quarter. Johnson Investment Counsel Inc. now owns 61,831 shares of the financial services provider’s stock valued at $1,052,000 after purchasing an additional 1,799 shares in the last quarter. Finally, Trust Co. of Vermont lifted its holdings in shares of Arrow Financial by 3.0% in the third quarter. Trust Co. of Vermont now owns 39,105 shares of the financial services provider’s stock valued at $666,000 after purchasing an additional 1,137 shares in the last quarter. 46.71% of the stock is currently owned by hedge funds and other institutional investors.

About Arrow Financial

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.