Arrow Financial Co. (NASDAQ:AROW – Get Rating) Director Gary C. Dake purchased 450 shares of the business’s stock in a transaction dated Thursday, May 5th. The shares were purchased at an average price of $31.91 per share, with a total value of $14,359.50. Following the purchase, the director now directly owns 39,811 shares in the company, valued at approximately $1,270,369.01. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of NASDAQ AROW opened at $31.93 on Friday. Arrow Financial Co. has a 52 week low of $30.50 and a 52 week high of $38.26. The business has a 50-day simple moving average of $32.59 and a two-hundred day simple moving average of $34.58. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.19. The company has a market cap of $510.88 million, a P/E ratio of 10.49 and a beta of 0.61.
Arrow Financial (NASDAQ:AROW – Get Rating) last issued its earnings results on Tuesday, April 26th. The financial services provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.71 by $0.07. Arrow Financial had a return on equity of 13.60% and a net margin of 33.05%. Equities research analysts anticipate that Arrow Financial Co. will post 2.92 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st will be paid a $0.27 dividend. The ex-dividend date is Tuesday, May 31st. This represents a $1.08 annualized dividend and a yield of 3.38%. Arrow Financial’s dividend payout ratio is currently 35.47%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC bought a new position in Arrow Financial in the 1st quarter worth about $25,000. Financial Counselors Inc. raised its holdings in shares of Arrow Financial by 23.1% in the 1st quarter. Financial Counselors Inc. now owns 14,665 shares of the financial services provider’s stock valued at $475,000 after acquiring an additional 2,750 shares in the last quarter. City State Bank purchased a new stake in shares of Arrow Financial in the 4th quarter valued at about $28,000. Barclays PLC raised its holdings in shares of Arrow Financial by 192.1% in the 4th quarter. Barclays PLC now owns 16,772 shares of the financial services provider’s stock valued at $591,000 after acquiring an additional 11,030 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Arrow Financial by 26.5% in the 4th quarter. Wells Fargo & Company MN now owns 64,138 shares of the financial services provider’s stock valued at $2,260,000 after acquiring an additional 13,418 shares in the last quarter. Institutional investors and hedge funds own 43.75% of the company’s stock.
AROW has been the subject of several research reports. Zacks Investment Research upgraded Arrow Financial from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Friday, April 29th. StockNews.com initiated coverage on Arrow Financial in a research note on Thursday, March 31st. They set a “hold” rating for the company.
About Arrow Financial (Get Rating)
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 improvements to commercial properties, as well as commercial construction and land development loans to finance projects.
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