Arrow Financial (NASDAQ:AROW) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

Arrow Financial Corporation (NASDAQ:AROW)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $26.96 and traded as high as $27.69. Arrow Financial shares last traded at $27.12, with a volume of 25,051 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AROW. Wall Street Zen upgraded shares of Arrow Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Hovde Group lifted their target price on shares of Arrow Financial from $27.50 to $28.50 and gave the stock a “market perform” rating in a research note on Friday, July 25th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Arrow Financial in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $28.25.

Arrow Financial Price Performance

The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06. The firm has a market cap of $446.64 million, a P/E ratio of 14.82 and a beta of 0.79. The business’s 50 day moving average is $28.26 and its two-hundred day moving average is $26.96.

Arrow Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Wednesday, November 12th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Wednesday, November 12th. Arrow Financial’s payout ratio is 63.39%.

Insiders Place Their Bets

In related news, CFO Penko Krassimir Ivanov purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, September 10th. The stock was purchased at an average cost of $29.10 per share, with a total value of $145,500.00. Following the completion of the purchase, the chief financial officer owned 24,744 shares in the company, valued at approximately $720,050.40. This trade represents a 25.32% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired 18,425 shares of company stock valued at $536,783 over the last ninety days. Insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Arrow Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Arrow Financial by 3.8% in the first quarter. Vanguard Group Inc. now owns 833,728 shares of the financial services provider’s stock valued at $21,919,000 after purchasing an additional 30,459 shares in the last quarter. American Century Companies Inc. increased its stake in Arrow Financial by 1.8% in the second quarter. American Century Companies Inc. now owns 328,677 shares of the financial services provider’s stock valued at $8,684,000 after purchasing an additional 5,679 shares in the last quarter. Rhino Investment Partners Inc increased its stake in Arrow Financial by 3.3% in the first quarter. Rhino Investment Partners Inc now owns 196,282 shares of the financial services provider’s stock valued at $5,160,000 after purchasing an additional 6,190 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Arrow Financial by 0.5% during the second quarter. Rockefeller Capital Management L.P. now owns 118,825 shares of the financial services provider’s stock worth $3,139,000 after acquiring an additional 538 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Arrow Financial by 9.2% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 85,773 shares of the financial services provider’s stock worth $2,255,000 after acquiring an additional 7,225 shares in the last quarter. 46.71% of the stock is owned by institutional investors.

Arrow Financial Company Profile

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.