Arrow Financial (NASDAQ:AROW) Announces Earnings Results

Arrow Financial (NASDAQ:AROW) posted its quarterly earnings data on Thursday. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03, FiscalAI reports. Arrow Financial had a net margin of 20.56% and a return on equity of 12.13%. The business had revenue of $60.15 million for the quarter, compared to analysts’ expectations of $57.82 million.

Arrow Financial Trading Up 2.4%

AROW traded up $0.91 during trading on Thursday, hitting $38.94. 21,633 shares of the stock were exchanged, compared to its average volume of 88,085. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a 50 day simple moving average of $37.84 and a 200 day simple moving average of $36.83. The firm has a market cap of $721.23 million, a price-to-earnings ratio of 12.54 and a beta of 0.76. Arrow Financial has a 1 year low of $26.46 and a 1 year high of $42.70.

Analyst Ratings Changes

AROW has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Arrow Financial in a research note on Thursday, October 22nd. Piper Sandler reiterated an “overweight” rating and issued a $46.00 target price (up from $43.00) on shares of Arrow Financial in a research note on Tuesday, July 28th. Finally, Raymond James Financial began coverage on shares of Arrow Financial in a research note on Tuesday, September 1st. They set an “outperform” rating and a $44.00 target price for the company. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.62.

About Arrow Financial

Arrow Financial Corporation (NASDAQ: AROW) is a bank holding company headquartered in Glens Falls, New York. Through its banking subsidiaries, the company provides commercial and consumer banking services to individuals, families, businesses and municipalities.

Arrow’s offerings include checking and savings accounts, certificates of deposit, residential mortgages, home equity financing, consumer loans, commercial lending, treasury management and online banking. Through affiliated businesses, it also provides investment management, trust and financial planning services, as well as insurance products.

The company’s banking operations serve communities primarily in eastern New York, including the Capital Region, the Adirondacks and the surrounding areas.