Arrow Financial (NASDAQ:AROW – Get Free Report) was upgraded by equities research analysts at Zacks Research to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.
AROW has been the subject of several other research reports. Piper Sandler began coverage on shares of Arrow Financial in a research report on Friday. They set an “overweight” rating and a $43.00 price objective for the company. Weiss Ratings upgraded Arrow Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Finally, Wall Street Zen cut Arrow Financial from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.75.
Read Our Latest Research Report on AROW
Arrow Financial Stock Down 0.7%
Arrow Financial (NASDAQ:AROW – Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.06. The business had revenue of $53.39 million during the quarter, compared to the consensus estimate of $43.80 million. Arrow Financial had a net margin of 20.72% and a return on equity of 12.38%. On average, equities analysts predict that Arrow Financial will post 3.8 EPS for the current fiscal year.
Institutional Trading of Arrow Financial
A number of hedge funds and other institutional investors have recently made changes to their positions in AROW. AQR Capital Management LLC increased its position in shares of Arrow Financial by 31.0% during the first quarter. AQR Capital Management LLC now owns 12,470 shares of the financial services provider’s stock worth $328,000 after purchasing an additional 2,949 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Arrow Financial by 4.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,796 shares of the financial services provider’s stock worth $258,000 after buying an additional 390 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Arrow Financial by 131.3% during the first quarter. Jane Street Group LLC now owns 27,272 shares of the financial services provider’s stock worth $717,000 after buying an additional 15,482 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Arrow Financial during the first quarter worth about $311,000. Finally, Rhumbline Advisers grew its holdings in shares of Arrow Financial by 1.5% during the second quarter. Rhumbline Advisers now owns 25,307 shares of the financial services provider’s stock worth $669,000 after buying an additional 367 shares during the last quarter. Institutional investors and hedge funds 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.
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