Arrow Financial (NASDAQ:AROW) Stock Rating Upgraded by Raymond James Financial

Arrow Financial (NASDAQ:AROW) was upgraded by analysts at Raymond James Financial to a “moderate buy” rating in a research note issued on Tuesday, MarketBeat reports.

A number of other brokerages also recently issued reports on AROW. Keefe, Bruyette & Woods assumed coverage on shares of Arrow Financial in a research note on Thursday, June 25th. They set a “market perform” rating and a $42.00 price objective on the stock. Wall Street Zen cut shares of Arrow Financial from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Arrow Financial in a report on Friday, July 24th. Zacks Research upgraded shares of Arrow Financial to a “hold” rating in a research report on Monday, June 15th. Finally, Piper Sandler reissued an “overweight” rating and issued a $46.00 price objective (up from $43.00) on shares of Arrow Financial in a research note on Tuesday, July 28th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.62.

Arrow Financial Stock Up 3.8%

Shares of AROW opened at $38.82 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.06. Arrow Financial has a 12 month low of $25.88 and a 12 month high of $42.70. The firm’s 50 day moving average is $39.89 and its 200-day moving average is $37.12. The stock has a market capitalization of $718.95 million, a PE ratio of 12.52 and a beta of 0.75.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.14). The company had revenue of $52.44 million during the quarter, compared to analyst estimates of $45.51 million. Arrow Financial had a net margin of 20.56% and a return on equity of 12.13%. Equities research analysts forecast that Arrow Financial will post 3.55 EPS for the current year.

Insider Transactions at Arrow Financial

In other Arrow Financial news, Director Mark Behan sold 4,110 shares of Arrow Financial stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $38.59, for a total transaction of $158,604.90. Following the transaction, the director directly owned 8,929 shares of the company’s stock, valued at approximately $344,570.11. The trade was a 31.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arrow Financial

A number of hedge funds have recently bought and sold shares of AROW. Global Retirement Partners LLC acquired a new position in Arrow Financial in the second quarter valued at approximately $34,000. BNP Paribas Financial Markets grew its position in shares of Arrow Financial by 67.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,612 shares of the financial services provider’s stock worth $43,000 after buying an additional 648 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Arrow Financial by 2,045.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,523 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 1,452 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Arrow Financial by 27.7% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,557 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 338 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in shares of Arrow Financial by 306.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,390 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 1,802 shares during the period. Institutional investors own 46.71% of the company’s stock.

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.