StockNews.com Upgrades Arrow Financial (NASDAQ:AROW) to “Hold”

Arrow Financial (NASDAQ:AROW) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.

Separately, Hovde Group initiated coverage on Arrow Financial in a report on Tuesday, January 9th. They issued a “market perform” rating for the company.

Arrow Financial Trading Up 4.1 %

NASDAQ AROW traded up $0.89 on Friday, reaching $22.79. The company had a trading volume of 78,574 shares, compared to its average volume of 41,264. The stock’s 50 day moving average is $23.91 and its 200-day moving average is $24.17. The stock has a market cap of $377.24 million, a price-to-earnings ratio of 12.88 and a beta of 0.70. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.07. Arrow Financial has a 52 week low of $16.65 and a 52 week high of $29.66.

Arrow Financial (NASDAQ:AROW) last released its quarterly earnings data on Thursday, February 1st. The financial services provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). The company had revenue of $33.10 million during the quarter, compared to the consensus estimate of $35.01 million. Arrow Financial had a net margin of 15.69% and a return on equity of 8.21%. Equities analysts predict that Arrow Financial will post 2.33 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Arrow Financial during the fourth quarter worth about $53,000. Financial Counselors Inc. boosted its position in shares of Arrow Financial by 3.0% during the third quarter. Financial Counselors Inc. now owns 17,612 shares of the financial services provider’s stock worth $300,000 after buying an additional 510 shares during the period. Trust Co. of Vermont boosted its position in shares of Arrow Financial by 3.0% during the third quarter. Trust Co. of Vermont now owns 39,105 shares of the financial services provider’s stock worth $666,000 after buying an additional 1,137 shares during the period. SG Americas Securities LLC boosted its position in shares of Arrow Financial by 22.1% during the fourth quarter. SG Americas Securities LLC now owns 8,033 shares of the financial services provider’s stock worth $224,000 after buying an additional 1,454 shares during the period. Finally, HighTower Advisors LLC boosted its position in shares of Arrow Financial by 5.1% during the third quarter. HighTower Advisors LLC now owns 15,982 shares of the financial services provider’s stock worth $273,000 after buying an additional 770 shares during the period. 46.71% of the stock is owned by institutional investors and hedge funds.

About Arrow Financial

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 enhancement to commercial properties, as well as commercial construction and land development loans to finance projects.