Arrow Financial Co. (NASDAQ:AROW) Sees Large Growth in Short Interest

Arrow Financial Co. (NASDAQ:AROW) was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totalling 124,400 shares, an increase of 8.3% from the December 31st total of 114,900 shares. Based on an average daily trading volume, of 41,800 shares, the days-to-cover ratio is currently 3.0 days.

Arrow Financial Stock Down 2.1 %

Shares of AROW opened at $26.04 on Tuesday. The firm’s 50-day simple moving average is $29.23 and its 200 day simple moving average is $29.49. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $435.91 million, a P/E ratio of 14.71 and a beta of 0.76. Arrow Financial has a 52 week low of $21.50 and a 52 week high of $34.63.

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

Arrow Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, February 10th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 4.30%. This is a positive change from Arrow Financial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, February 10th. Arrow Financial’s dividend payout ratio (DPR) is currently 63.28%.

Wall Street Analyst Weigh In

AROW has been the subject of a number of research analyst reports. 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 report on Friday, December 27th. Piper Sandler started coverage on Arrow Financial in a research note on Friday, December 20th. They set a “neutral” rating and a $32.00 target price for the company.

Insider Buying and Selling at Arrow Financial

In other news, Director Raymond F. O’conor sold 2,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $32.69, for a total value of $65,380.00. Following the sale, the director now directly owns 37,859 shares in the company, valued at $1,237,610.71. The trade was a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel James White purchased 3,668 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were acquired at an average cost of $27.23 per share, with a total value of $99,879.64. Following the completion of the purchase, the director now directly owns 4,338 shares in the company, valued at approximately $118,123.74. This represents a 547.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 6,000 shares of company stock valued at $173,640. 3.55% of the stock is currently owned by corporate insiders.

Institutional Trading of Arrow Financial

Institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its position in shares of Arrow Financial by 4.7% in the second 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. SG Americas Securities LLC bought a new stake in shares of Arrow Financial during the 3rd quarter valued at $164,000. Private Advisor Group LLC grew its holdings in shares of Arrow Financial by 26.7% during the 3rd quarter. Private Advisor Group LLC now owns 25,257 shares of the financial services provider’s stock worth $724,000 after purchasing an additional 5,323 shares in the last quarter. Atria Investments Inc increased its holdings in Arrow Financial by 32.6% in the 3rd quarter. Atria Investments Inc now owns 16,856 shares of the financial services provider’s stock valued at $483,000 after buying an additional 4,148 shares during the period. Finally, Arrow Financial Corp raised its position in Arrow Financial by 1.2% during the third quarter. Arrow Financial Corp now owns 1,969,793 shares of the financial services provider’s stock valued at $56,454,000 after purchasing an additional 23,198 shares in the last quarter. Institutional investors own 46.71% of the company’s stock.

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.