Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 500 shares of the stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $35.85, for a total transaction of $17,925.00. Following the transaction, the director now directly owns 47,031 shares of the company’s stock, valued at approximately $1,686,061.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of Arrow Financial traded down $0.10, reaching $36.20, during trading on Monday, Marketbeat reports. The company’s stock had a trading volume of 723 shares, compared to its average volume of 17,574. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.26. Arrow Financial Co. has a 12 month low of $30.70 and a 12 month high of $38.60. The company has a market cap of $507.09 million, a price-to-earnings ratio of 16.85 and a beta of 0.58.
Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings results on Monday, April 23rd. The financial services provider reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.04. Arrow Financial had a net margin of 27.17% and a return on equity of 12.21%. The firm had revenue of $27.29 million during the quarter.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Friday, June 1st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Thursday, May 31st.
Several large investors have recently made changes to their positions in AROW. Ladenburg Thalmann Financial Services Inc. bought a new position in shares of Arrow Financial in the 4th quarter valued at about $106,000. MetLife Investment Advisors LLC bought a new position in shares of Arrow Financial in the 4th quarter valued at about $210,000. Maltese Capital Management LLC bought a new position in shares of Arrow Financial in the 1st quarter valued at about $509,000. Millennium Management LLC lifted its holdings in shares of Arrow Financial by 12.0% in the 4th quarter. Millennium Management LLC now owns 21,761 shares of the financial services provider’s stock valued at $739,000 after acquiring an additional 2,334 shares during the last quarter. Finally, Martingale Asset Management L P lifted its holdings in shares of Arrow Financial by 65.4% in the 4th quarter. Martingale Asset Management L P now owns 43,783 shares of the financial services provider’s stock valued at $1,487,000 after acquiring an additional 17,306 shares during the last quarter. 39.38% of the stock is owned by hedge funds and other institutional investors.
Separately, BidaskClub downgraded shares of Arrow Financial from a “buy” rating to a “hold” rating in a report on Tuesday, June 12th.
Arrow Financial Company Profile
Arrow Financial Corporation, a multi-bank holding company, provides commercial and consumer banking, and financial products and services. Its deposit products include demand deposits, interest-bearing checking accounts, savings deposits, time deposits, and other time deposits. The company's 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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