Arrow Financial Co. (NASDAQ:AROW) Director Sells $57,700.00 in Stock

Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 2,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $28.85, for a total value of $57,700.00. Following the completion of the sale, the director now owns 35,859 shares of the company’s stock, valued at $1,034,532.15. This trade represents a 5.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Arrow Financial Price Performance

Shares of Arrow Financial stock opened at $27.70 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06. Arrow Financial Co. has a 52 week low of $21.50 and a 52 week high of $34.63. The stock’s 50-day simple moving average is $31.09 and its 200-day simple moving average is $29.31. The company has a market capitalization of $463.67 million, a price-to-earnings ratio of 14.13 and a beta of 0.77.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. The business had revenue of $57.58 million during the quarter. Arrow Financial had a return on equity of 8.59% and a net margin of 15.00%.

Analyst Ratings Changes

A number of analysts have commented on the company. Hovde Group reduced their price target on Arrow Financial from $34.50 to $32.00 and set a “market perform” rating for the company in a research report on Friday, December 27th. Piper Sandler began coverage on shares of Arrow Financial in a research note on Friday, December 20th. They set a “neutral” rating and a $32.00 target price on the stock.

Hedge Funds Weigh In On Arrow Financial

Several institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. boosted its holdings in shares of Arrow Financial by 13.7% during the 2nd quarter. American Century Companies Inc. now owns 266,651 shares of the financial services provider’s stock valued at $6,946,000 after purchasing an additional 32,158 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Arrow Financial by 136.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,050 shares of the financial services provider’s stock valued at $1,578,000 after buying an additional 31,741 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Arrow Financial by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 700,253 shares of the financial services provider’s stock valued at $18,241,000 after buying an additional 31,268 shares in the last quarter. Arrow Financial Corp grew its holdings in Arrow Financial by 1.2% during the 3rd quarter. Arrow Financial Corp now owns 1,969,793 shares of the financial services provider’s stock valued at $56,454,000 after buying an additional 23,198 shares in the last quarter. Finally, Barclays PLC increased its stake in Arrow Financial by 251.9% in the 3rd quarter. Barclays PLC now owns 21,411 shares of the financial services provider’s stock worth $614,000 after acquiring an additional 15,327 shares during the last quarter. 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.