Keefe, Bruyette & Woods Begins Coverage on Arrow Financial (NASDAQ:AROW)

Keefe, Bruyette & Woods began coverage on shares of Arrow Financial (NASDAQ:AROW) in a note issued to investors on Thursday,Benzinga reports. The firm set a “market perform” rating and a $42.00 price target on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 4.06% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. Weiss Ratings upgraded Arrow Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Piper Sandler initiated coverage on shares of Arrow Financial in a research note on Friday, June 12th. They issued an “overweight” rating and a $43.00 price objective for the company. Wall Street Zen downgraded shares of Arrow Financial from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Zacks Research raised shares of Arrow Financial to a “hold” rating in a research note on Monday, June 15th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Arrow Financial has an average rating of “Hold” and a consensus price target of $39.83.

Arrow Financial Stock Up 1.0%

Shares of NASDAQ:AROW opened at $40.36 on Thursday. Arrow Financial has a 1 year low of $25.83 and a 1 year high of $40.54. 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 business’s 50-day moving average is $37.13 and its 200-day moving average is $34.62. The company has a market capitalization of $667.15 million, a price-to-earnings ratio of 13.06 and a beta of 0.77.

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

Insider Buying and Selling

In other Arrow Financial news, Director Mark Behan sold 4,110 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $38.59, for a total transaction of $158,604.90. Following the completion of the sale, the director owned 8,929 shares in the company, valued at approximately $344,570.11. The trade was a 31.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 3.48% of the company’s stock.

Institutional Investors Weigh In On Arrow Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. Legato Capital Management LLC bought a new stake in Arrow Financial during the fourth quarter worth $474,000. Rhino Investment Partners Inc lifted its stake in Arrow Financial by 13.9% during the 3rd quarter. Rhino Investment Partners Inc now owns 227,804 shares of the financial services provider’s stock valued at $6,447,000 after acquiring an additional 27,856 shares in the last quarter. Arrow Financial Corp lifted its stake in Arrow Financial by 0.8% during the 4th quarter. Arrow Financial Corp now owns 1,871,735 shares of the financial services provider’s stock valued at $58,772,000 after acquiring an additional 14,403 shares in the last quarter. LSV Asset Management purchased a new position in Arrow Financial during the 4th quarter worth $75,000. Finally, Janney Montgomery Scott LLC boosted its holdings in Arrow Financial by 12.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 10,353 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 1,155 shares during the last quarter. 46.71% of the stock is owned by institutional investors.

Arrow Financial Company Profile

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.