StockNews.com Downgrades Arrow Financial (NASDAQ:AROW) to Sell

StockNews.com cut shares of Arrow Financial (NASDAQ:AROW) from a hold rating to a sell rating in a research note published on Monday.

Arrow Financial Price Performance

Shares of AROW opened at $32.41 on Monday. The company has a 50 day moving average price of $26.08 and a 200-day moving average price of $24.91. Arrow Financial has a fifty-two week low of $16.65 and a fifty-two week high of $32.79. The stock has a market capitalization of $541.25 million, a PE ratio of 18.85 and a beta of 0.74. 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 announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.02). The business 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 7.89% and a net margin of 14.34%.

Arrow Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 13th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, May 10th. This represents a $1.08 dividend on an annualized basis and a yield of 3.33%. Arrow Financial’s payout ratio is 62.81%.

Insider Buying and Selling at Arrow Financial

In other Arrow Financial news, Director Raymond F. O’conor sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $23.63, for a total transaction of $94,520.00. Following the transaction, the director now owns 46,419 shares in the company, valued at approximately $1,096,880.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.55% of the stock is currently owned by company insiders.

Institutional Trading of Arrow Financial

Several large investors have recently made changes to their positions in AROW. SG Americas Securities LLC boosted its holdings in shares of Arrow Financial by 22.1% in the 4th quarter. SG Americas Securities LLC now owns 8,033 shares of the financial services provider’s stock valued at $224,000 after acquiring an additional 1,454 shares during the last quarter. IFG Advisory LLC purchased a new stake in shares of Arrow Financial in the 4th quarter valued at $225,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Arrow Financial in the 4th quarter valued at $53,000. Carl P. Sherr & Co. LLC purchased a new stake in shares of Arrow Financial in the 4th quarter valued at $210,000. Finally, GAMMA Investing LLC purchased a new stake in shares of Arrow Financial in the 4th quarter valued at $29,000. 46.71% of the stock is owned by hedge funds and other institutional investors.

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.