By otakuyassine3@gmail.com 
Arrow Financial Co. (NASDAQ:AROW – Get Free Report) was the recipient of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 124,400 shares, a growth of 8.3% from the December 31st total of 114,900 shares. Based on an average daily trading volume, of 41,800 shares, the days-to-cover ratio is currently 3.0 days.
Insider Buying and Selling at Arrow Financial
In other news, Director Raymond F. O’conor sold 2,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $28.85, for a total transaction of $57,700.00. Following the completion of the transaction, the director now directly owns 35,859 shares of the company’s stock, valued at approximately $1,034,532.15. This trade represents a 5.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.55% of the company’s stock.
Institutional Investors Weigh In On Arrow Financial
Hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers raised its position in shares of Arrow Financial by 5.6% in the fourth quarter. Rhumbline Advisers now owns 26,162 shares of the financial services provider’s stock valued at $751,000 after buying an additional 1,392 shares in the last quarter. SG Americas Securities LLC lifted its stake in Arrow Financial by 18.5% in the 4th quarter. SG Americas Securities LLC now owns 6,765 shares of the financial services provider’s stock valued at $194,000 after purchasing an additional 1,056 shares during the last quarter. Trust Co. of Vermont grew its holdings in Arrow Financial by 49.5% during the 4th quarter. Trust Co. of Vermont now owns 57,365 shares of the financial services provider’s stock worth $1,647,000 after acquiring an additional 19,000 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Arrow Financial by 137.8% during the third quarter. JPMorgan Chase & Co. now owns 18,702 shares of the financial services provider’s stock valued at $536,000 after acquiring an additional 10,838 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of Arrow Financial by 251.9% during the third quarter. Barclays PLC now owns 21,411 shares of the financial services provider’s stock worth $614,000 after purchasing an additional 15,327 shares during the period. Institutional investors and hedge funds own 46.71% of the company’s stock.
Arrow Financial Stock Performance
Arrow Financial stock traded down $0.90 during mid-day trading on Monday, hitting $25.72. 24,272 shares of the company’s stock traded hands, compared to its average volume of 39,589. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a 50 day simple moving average of $29.23 and a two-hundred day simple moving average of $29.49. Arrow Financial has a fifty-two week low of $21.50 and a fifty-two week high of $34.63. The stock has a market cap of $430.47 million, a price-to-earnings ratio of 14.52 and a beta of 0.76.
Arrow Financial (NASDAQ:AROW – Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.12). Arrow Financial had a net margin of 13.32% and a return on equity of 8.59%. On average, research analysts expect that Arrow Financial will post 2.7 EPS for the current fiscal year.
Arrow Financial Increases Dividend
The company also recently disclosed a dividend, which will be paid on Monday, February 24th. Shareholders of record on Tuesday, February 11th will be issued a $0.28 dividend. This represents a yield of 4.21%. This is a positive change from Arrow Financial’s previous dividend of $0.25. The ex-dividend date is Monday, February 10th. Arrow Financial’s dividend payout ratio is currently 63.28%.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on AROW shares. Hovde Group dropped their target price on Arrow Financial from $34.50 to $32.00 and set a “market perform” rating for the company in a research report on Friday, December 27th. Piper Sandler began coverage on Arrow Financial in a research report on Friday, December 20th. They set a “neutral” rating and a $32.00 price objective for the company.
View Our Latest Stock Analysis on Arrow Financial
About Arrow Financial
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 enhancement to commercial properties, as well as commercial construction and land development loans to finance projects.
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