Arrow Financial Co. (NASDAQ:AROW) Short Interest Update

Arrow Financial Co. (NASDAQ:AROW) saw a significant drop in short interest during the month of January. As of January 15th, there was short interest totalling 105,500 shares, a drop of 15.2% from the December 31st total of 124,400 shares. Based on an average daily trading volume, of 43,500 shares, the days-to-cover ratio is presently 2.4 days.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AROW shares. Piper Sandler started coverage on shares of Arrow Financial in a research report on Friday, December 20th. They issued a “neutral” rating and a $32.00 price objective on the stock. Hovde Group lowered their price objective on Arrow Financial from $34.50 to $32.00 and set a “market perform” rating on the stock in a report on Friday, December 27th.

Arrow Financial Stock Performance

Shares of Arrow Financial stock traded down $0.90 on Monday, hitting $25.72. The stock had a trading volume of 24,272 shares, compared to its average volume of 39,589. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06. The stock has a market cap of $430.47 million, a price-to-earnings ratio of 14.53 and a beta of 0.76. The company’s 50 day moving average price is $29.23 and its 200 day moving average price is $29.49. Arrow Financial has a 52-week low of $21.50 and a 52-week high of $34.63.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.12). Arrow Financial had a net margin of 13.32% and a return on equity of 8.59%. On average, research analysts anticipate that Arrow Financial will post 2.7 EPS for the current year.

Arrow Financial Increases Dividend

The firm also recently declared a dividend, which will be paid on Monday, February 24th. Shareholders of record on Tuesday, February 11th will be paid a dividend of $0.28 per share. This represents a dividend yield of 4.21%. The ex-dividend date of this dividend is Monday, February 10th. This is a positive change from Arrow Financial’s previous dividend of $0.25. Arrow Financial’s dividend payout ratio is currently 63.28%.

Insider Buying and Selling

In related news, Director Raymond F. O’conor sold 2,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $28.85, for a total transaction of $57,700.00. Following the sale, the director now owns 35,859 shares of the company’s stock, valued at $1,034,532.15. This represents a 5.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its stake in Arrow Financial by 13.0% during the third quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 398 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in Arrow Financial by 0.4% in the third quarter. Rockefeller Capital Management L.P. now owns 116,867 shares of the financial services provider’s stock valued at $3,349,000 after acquiring an additional 454 shares during the last quarter. State Street Corp grew its position in Arrow Financial by 0.3% during the third quarter. State Street Corp now owns 393,719 shares of the financial services provider’s stock valued at $11,284,000 after acquiring an additional 1,022 shares during the period. SG Americas Securities LLC grew its holdings in shares of Arrow Financial by 18.5% during the 4th quarter. SG Americas Securities LLC now owns 6,765 shares of the financial services provider’s stock worth $194,000 after purchasing an additional 1,056 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in Arrow Financial by 0.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 118,630 shares of the financial services provider’s stock worth $3,400,000 after buying an additional 1,100 shares during the period. 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.