Arrow Financial (NASDAQ:AROW) Reaches New 12-Month High – What’s Next?

Arrow Financial Corporation (NASDAQ:AROW)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $33.66 and last traded at $33.6280, with a volume of 22198 shares changing hands. The stock had previously closed at $32.41.

Analyst Upgrades and Downgrades

AROW has been the topic of a number of recent analyst reports. Hovde Group lowered Arrow Financial from an “outperform” rating to a “market perform” rating in a research report on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arrow Financial in a research note on Monday, December 29th. Finally, Wall Street Zen cut shares of Arrow Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $30.75.

Arrow Financial Trading Up 4.9%

The company’s 50 day simple moving average is $31.40 and its two-hundred day simple moving average is $29.23. The stock has a market cap of $558.85 million, a price-to-earnings ratio of 16.42 and a beta of 0.82. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.93 and a current ratio of 0.93.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. The business had revenue of $8.07 million for the quarter, compared to the consensus estimate of $41.00 million. Arrow Financial had a net margin of 14.65% and a return on equity of 9.46%. Research analysts expect that Arrow Financial Corporation will post 2.65 EPS for the current fiscal year.

Arrow Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Wednesday, November 12th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.4%. The ex-dividend date was Wednesday, November 12th. Arrow Financial’s dividend payout ratio (DPR) is 56.04%.

Insider Activity

In related news, CEO David S. Demarco acquired 3,035 shares of the stock in a transaction dated Wednesday, December 24th. The shares were acquired at an average price of $31.78 per share, for a total transaction of $96,452.30. Following the completion of the purchase, the chief executive officer owned 3,035 shares in the company, valued at approximately $96,452.30. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel James White acquired 1,644 shares of Arrow Financial stock in a transaction on Monday, November 10th. The stock was purchased at an average price of $30.14 per share, with a total value of $49,550.16. Following the transaction, the director directly owned 6,890 shares in the company, valued at approximately $207,664.60. This trade represents a 31.34% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders acquired 6,299 shares of company stock valued at $194,311. 3.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arrow Financial

Large investors have recently made changes to their positions in the company. Edmp Inc. acquired a new stake in shares of Arrow Financial during the fourth quarter worth approximately $447,000. SG Americas Securities LLC bought a new stake in shares of Arrow Financial during the fourth quarter worth approximately $142,000. JPMorgan Chase & Co. raised its position in shares of Arrow Financial by 18.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 20,197 shares of the financial services provider’s stock valued at $572,000 after acquiring an additional 3,141 shares during the last quarter. Millennium Management LLC acquired a new position in Arrow Financial in the third quarter valued at about $834,000. Finally, Two Sigma Investments LP raised its position in shares of Arrow Financial by 29.3% in the 3rd quarter. Two Sigma Investments LP now owns 61,486 shares of the financial services provider’s stock valued at $1,740,000 after acquiring an additional 13,919 shares during the period. Institutional investors own 46.71% of the company’s stock.

Arrow Financial Company Profile

Arrow Financial Corporation is a bank holding company headquartered in Glens Falls, New York, that conducts its primary operations through its subsidiary, Glens Falls National Bank & Trust Company. The company provides a comprehensive suite of retail and commercial banking services, including checking and savings accounts, consumer and commercial lending, mortgage financing, and cash management solutions. Through its branch network, Arrow Financial serves individuals, small- and medium-sized businesses, and nonprofit organizations across the Adirondack region, Upper Hudson Valley, Mohawk Valley and parts of Central New York.

In addition to traditional banking, Arrow Financial has developed a robust wealth management and trust services division.