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

Arrow Financial Corporation (NASDAQ:AROWGet Free Report) declared a quarterly dividend on Thursday, July 23rd. Stockholders of record on Tuesday, August 11th will be given a dividend of 0.30 per share by the financial services provider on Tuesday, August 25th. This represents a c) annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, August 11th.

Arrow Financial has raised its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 7 years. Arrow Financial has a payout ratio of 41.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Arrow Financial to earn $4.40 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 27.3%.

Arrow Financial Stock Down 3.9%

Shares of NASDAQ:AROW opened at $39.14 on Friday. Arrow Financial has a 1 year low of $25.83 and a 1 year high of $42.70. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.92 and a quick ratio of 0.92. The business’s 50-day moving average is $39.01 and its 200-day moving average is $35.97. The company has a market capitalization of $646.98 million, a price-to-earnings ratio of 12.67 and a beta of 0.76.

Arrow Financial (NASDAQ:AROWGet Free Report) last released its earnings results on Thursday, July 23rd. The financial services provider reported $0.71 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.14). The business had revenue of $44.19 million for the quarter, compared to analyst estimates of $45.51 million. Arrow Financial had a return on equity of 12.38% and a net margin of 20.72%. Equities research analysts predict that Arrow Financial will post 3.8 earnings per share for the current year.

Arrow Financial Company Profile

(Get Free Report)

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.

Further Reading

Dividend History for Arrow Financial (NASDAQ:AROW)

Receive News & Ratings for Arrow Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arrow Financial and related companies with MarketBeat.com's FREE daily email newsletter.