Raymond F. O’conor Sells 2,000 Shares of Arrow Financial Co. (NASDAQ:AROW) Stock

Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 2,000 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $25.94, for a total transaction of $51,880.00. Following the transaction, the director now owns 31,022 shares of the company’s stock, valued at $804,710.68. The trade was a 6.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Arrow Financial Stock Performance

NASDAQ AROW opened at $26.33 on Thursday. The stock has a market cap of $440.18 million, a PE ratio of 14.88 and a beta of 0.73. 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 50-day moving average of $26.64 and a 200-day moving average of $28.65. Arrow Financial Co. has a 52-week low of $21.50 and a 52-week high of $34.63.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, sell-side analysts anticipate that Arrow Financial Co. will post 2.65 EPS for the current year.

Arrow Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Monday, February 10th were given a $0.28 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.25%. This is a boost from Arrow Financial’s previous quarterly dividend of $0.25. Arrow Financial’s dividend payout ratio (DPR) is presently 63.28%.

Wall Street Analyst Weigh In

AROW has been the subject of a number of analyst reports. Piper Sandler decreased their price objective on shares of Arrow Financial from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Hovde Group lowered their price target on Arrow Financial from $34.50 to $32.00 and set a “market perform” rating on the stock in a research report on Friday, December 27th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its position in shares of Arrow Financial by 130.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,241 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 703 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Arrow Financial by 13.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider’s stock valued at $99,000 after purchasing an additional 398 shares during the last quarter. SG Americas Securities LLC raised 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 buying an additional 1,056 shares in the last quarter. State of Tennessee Department of Treasury bought a new stake in shares of Arrow Financial during the 4th quarter worth $198,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Arrow Financial by 4.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,406 shares of the financial services provider’s stock worth $270,000 after acquiring an additional 436 shares during the last quarter. Institutional investors and hedge funds own 46.71% of the company’s stock.

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.