Arrow Financial (NASDAQ:AROW) Sets New 12-Month High at $30.00

Arrow Financial Co. (NASDAQ:AROW)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $30.00 and last traded at $29.99, with a volume of 72863 shares trading hands. The stock had previously closed at $28.51.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Arrow Financial from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th.

Arrow Financial Stock Up 5.2 %

The firm has a fifty day moving average price of $25.06 and a 200 day moving average price of $24.72. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $500.83 million, a P/E ratio of 17.44 and a beta of 0.74.

Arrow Financial (NASDAQ:AROW) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.02). The business had revenue of $54.54 million for the quarter, compared to the consensus estimate of $33.29 million. Arrow Financial had a return on equity of 7.89% and a net margin of 14.34%. Equities research analysts forecast that Arrow Financial Co. will post 2.29 earnings per share for the current year.

Arrow Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 13th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.60%. The ex-dividend date was Friday, May 10th. Arrow Financial’s dividend payout ratio (DPR) is presently 62.81%.

Insider Activity

In other news, Director Raymond F. O’conor sold 4,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $23.63, for a total transaction of $94,520.00. Following the transaction, the director now owns 46,419 shares of the company’s stock, valued at $1,096,880.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arrow Financial

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC acquired a new position in Arrow Financial in the fourth quarter valued at about $29,000. McGlone Suttner Wealth Management Inc. acquired a new position in Arrow Financial in the fourth quarter valued at about $53,000. Public Employees Retirement System of Ohio acquired a new position in Arrow Financial in the fourth quarter valued at about $128,000. Acadian Asset Management LLC acquired a new position in Arrow Financial in the first quarter valued at about $157,000. Finally, Northwest Financial Advisors acquired a new position in Arrow Financial in the fourth quarter valued at about $179,000. Institutional investors and hedge funds 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.