Arrow Financial Corporation (NASDAQ:AROW) Declares Quarterly Dividend of $0.30

Arrow Financial Corporation (NASDAQ:AROW) declared a quarterly dividend on Thursday, January 29th. Shareholders of record on Wednesday, February 11th will be paid a dividend of 0.30 per share by the financial services provider on Wednesday, February 25th. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Wednesday, February 11th. This is a 3.4% increase from Arrow Financial’s previous quarterly dividend of $0.29.

Arrow Financial has raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 7 years. Arrow Financial has a dividend payout ratio of 39.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Arrow Financial to earn $2.92 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 39.7%.

Arrow Financial Stock Up 1.4%

Shares of Arrow Financial stock opened at $32.88 on Friday. The business has a fifty day simple moving average of $31.83 and a 200 day simple moving average of $29.48. 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 stock has a market cap of $540.61 million, a PE ratio of 15.94 and a beta of 0.82. Arrow Financial has a 12 month low of $22.72 and a 12 month high of $34.57.

Arrow Financial (NASDAQ:AROW) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.04. The firm had revenue of $43.65 million during the quarter, compared to the consensus estimate of $43.40 million. Arrow Financial had a return on equity of 9.46% and a net margin of 14.65%. Research analysts predict that Arrow Financial will post 2.65 EPS for the current year.

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.