Arrow Financial (AROW) Lifted to Sell at BidaskClub

Arrow Financial (NASDAQ:AROW) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Monday.

Separately, Sandler O’Neill set a $37.00 price objective on Arrow Financial and gave the company a “hold” rating in a research report on Wednesday, January 3rd.

Arrow Financial (NASDAQ AROW) traded down $0.95 during trading on Monday, reaching $32.25. The company’s stock had a trading volume of 28,251 shares, compared to its average volume of 13,252. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market cap of $462.48, a PE ratio of 15.36 and a beta of 0.63. Arrow Financial has a fifty-two week low of $30.70 and a fifty-two week high of $38.60.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.06). The firm had revenue of $27.07 million for the quarter. Arrow Financial had a net margin of 26.11% and a return on equity of 11.75%.

Arrow Financial announced that its board has authorized a stock buyback plan on Friday, October 27th that permits the company to buyback $5.00 million in outstanding shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

In other Arrow Financial news, Chairman Thomas L. Hoy sold 1,300 shares of Arrow Financial stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $35.16, for a total transaction of $45,708.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 2,300 shares of company stock worth $80,433. Insiders own 4.63% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Teachers Advisors LLC boosted its position in Arrow Financial by 0.9% during the 2nd quarter. Teachers Advisors LLC now owns 20,913 shares of the financial services provider’s stock valued at $662,000 after acquiring an additional 181 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Arrow Financial by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 54,589 shares of the financial services provider’s stock worth $1,728,000 after purchasing an additional 323 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of Arrow Financial by 4.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 17,173 shares of the financial services provider’s stock worth $544,000 after purchasing an additional 686 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Arrow Financial by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 88,592 shares of the financial services provider’s stock worth $2,804,000 after purchasing an additional 1,084 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Arrow Financial by 29.2% in the 2nd quarter. Alliancebernstein L.P. now owns 10,627 shares of the financial services provider’s stock worth $336,000 after purchasing an additional 2,400 shares in the last quarter. 39.97% of the stock is currently owned by institutional investors and hedge funds.

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About Arrow Financial

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 two banks.

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