Arrow Financial Corp. Declares Quarterly Dividend of $0.25 (AROW)

Posted by on Jul 31st, 2016

Arrow Financial Corp. (NASDAQ:AROW) announced a quarterly dividend on Thursday, July 28th. Stockholders of record on Friday, September 2nd will be paid a dividend of 0.25 per share by the financial services provider on Thursday, September 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Wednesday, August 31st.

Shares of Arrow Financial Corp. (NASDAQ:AROW) traded down 0.34% during midday trading on Thursday, hitting $32.11. The stock had a trading volume of 16,415 shares. Arrow Financial Corp. has a 52 week low of $24.54 and a 52 week high of $32.47. The company’s 50 day moving average is $30.35 and its 200 day moving average is $27.93. The firm has a market cap of $417.78 million and a P/E ratio of 16.22.

Arrow Financial Corp. (NASDAQ:AROW) last issued its earnings results on Wednesday, July 20th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.03. On average, equities analysts predict that Arrow Financial Corp. will post $2.04 earnings per share for the current fiscal year.

In other news, Director Michael B. Clarke sold 2,000 shares of Arrow Financial Corp. stock in a transaction on Monday, July 25th. The stock was sold at an average price of $31.92, for a total value of $63,840.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Thomas L. Hoy sold 1,000 shares of Arrow Financial Corp. stock in a transaction on Monday, June 6th. The shares were sold at an average price of $28.84, for a total value of $28,840.00. Following the completion of the transaction, the chairman now owns 168,862 shares of the company’s stock, valued at $4,869,980.08. The disclosure for this sale can be found here.

Arrow Financial Corporation (Arrow) is a bank holding company. The Company’s banking subsidiaries are Glens Falls National Bank and Trust Company (Glens Falls National) and Saratoga National Bank and Trust Company (Saratoga National). It operates in community banking industry segment. The Company’s business consists primarily of the ownership, supervision and control of its approximately two banks.