Arrow Financial Co. (NASDAQ:AROW) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $36.66 and last traded at $36.13, with a volume of 17979 shares trading hands. The stock had previously closed at $36.01.
Separately, Zacks Investment Research upgraded Arrow Financial from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Friday.
The stock has a 50 day simple moving average of $34.25 and a 200-day simple moving average of $31.45. The firm has a market cap of $561.06 million, a PE ratio of 14.70 and a beta of 0.64. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.90 and a quick ratio of 0.90.
Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings data on Monday, April 26th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.16. Arrow Financial had a return on equity of 12.14% and a net margin of 26.71%. As a group, equities analysts predict that Arrow Financial Co. will post 2.58 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Wednesday, June 2nd will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Tuesday, June 1st. Arrow Financial’s payout ratio is 42.80%.
In other Arrow Financial news, SVP David S. Demarco sold 5,797 shares of Arrow Financial stock in a transaction on Friday, April 30th. The stock was sold at an average price of $35.31, for a total transaction of $204,692.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.00% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of AROW. Lazard Asset Management LLC increased its holdings in shares of Arrow Financial by 403.1% in the 4th quarter. Lazard Asset Management LLC now owns 1,147 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 919 shares in the last quarter. Panagora Asset Management Inc. bought a new stake in shares of Arrow Financial in the 4th quarter worth $41,000. Citigroup Inc. increased its holdings in shares of Arrow Financial by 218.4% in the 4th quarter. Citigroup Inc. now owns 2,878 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 1,974 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Arrow Financial in the 4th quarter worth $101,000. Finally, LPL Financial LLC bought a new stake in shares of Arrow Financial in the 4th quarter worth $219,000. 42.19% of the stock is owned by institutional investors and hedge funds.
Arrow Financial Company Profile (NASDAQ:AROW)
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 improvements to commercial properties, as well as commercial construction and land development loans to finance projects.
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