Arrow Financial (NASDAQ:AROW) Hits New 12-Month High – Should You Buy?

Shares of Arrow Financial Corporation (NASDAQ:AROW) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $41.42 and last traded at $40.6950, with a volume of 3313 shares trading hands. The stock had previously closed at $41.05.

Wall Street Analyst Weigh In

Several analysts have issued reports on AROW shares. Weiss Ratings raised shares of Arrow Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Keefe, Bruyette & Woods initiated coverage on shares of Arrow Financial in a research note on Thursday, June 25th. They issued a “market perform” rating and a $42.00 target price for the company. Piper Sandler initiated coverage on shares of Arrow Financial in a report on Friday, June 12th. They set an “overweight” rating and a $43.00 price target for the company. Zacks Research raised shares of Arrow Financial to a “hold” rating in a research note on Monday, June 15th. Finally, Wall Street Zen lowered shares of Arrow Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $39.83.

Arrow Financial Price Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $695.42 million, a price-to-earnings ratio of 13.61 and a beta of 0.76. The business’s 50-day moving average price is $37.57 and its two-hundred day moving average price is $34.96.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.06. The firm had revenue of $53.39 million for the quarter, compared to analysts’ expectations of $43.80 million. Arrow Financial had a net margin of 20.72% and a return on equity of 12.38%. On average, research analysts forecast that Arrow Financial Corporation will post 3.8 EPS for the current fiscal year.

Arrow Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th were given a $0.30 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $1.20 annualized dividend and a dividend yield of 2.9%. Arrow Financial’s dividend payout ratio (DPR) is presently 38.83%.

Insider Buying and Selling at Arrow Financial

In related news, Director Mark Behan sold 4,110 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $38.59, for a total transaction of $158,604.90. Following the sale, the director directly owned 8,929 shares of the company’s stock, valued at approximately $344,570.11. This represents a 31.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.48% of the company’s stock.

Institutional Trading of Arrow Financial

Several institutional investors have recently added to or reduced their stakes in AROW. AQR Capital Management LLC raised its holdings in shares of Arrow Financial by 31.0% during the first quarter. AQR Capital Management LLC now owns 12,470 shares of the financial services provider’s stock worth $328,000 after purchasing an additional 2,949 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Arrow Financial by 4.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,796 shares of the financial services provider’s stock worth $258,000 after acquiring an additional 390 shares during the period. Jane Street Group LLC lifted its holdings in Arrow Financial by 131.3% in the first quarter. Jane Street Group LLC now owns 27,272 shares of the financial services provider’s stock worth $717,000 after acquiring an additional 15,482 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Arrow Financial in the first quarter valued at approximately $311,000. Finally, Rhumbline Advisers boosted its stake in Arrow Financial by 1.5% in the second quarter. Rhumbline Advisers now owns 25,307 shares of the financial services provider’s stock valued at $669,000 after acquiring an additional 367 shares during the period. Institutional investors own 46.71% of the company’s stock.

About Arrow Financial

Arrow Financial Corporation is a bank holding company headquartered in Glens Falls, New York, that conducts its primary operations through its subsidiary, Glens Falls National Bank & Trust Company. The company provides a comprehensive suite of retail and commercial banking services, including checking and savings accounts, consumer and commercial lending, mortgage financing, and cash management solutions. Through its branch network, Arrow Financial serves individuals, small- and medium-sized businesses, and nonprofit organizations across the Adirondack region, Upper Hudson Valley, Mohawk Valley and parts of Central New York.

In addition to traditional banking, Arrow Financial has developed a robust wealth management and trust services division.