Arrow Financial (AROW) Stock Rating Upgraded by BidaskClub

Arrow Financial (NASDAQ:AROW) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Arrow Financial stock opened at $34.73 on Friday. Arrow Financial has a 1-year low of $30.81 and a 1-year high of $40.15. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $534.15 million, a price-to-earnings ratio of 16.36 and a beta of 0.58.

Arrow Financial (NASDAQ:AROW) last posted its earnings results on Monday, July 23rd. The financial services provider reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.05. Arrow Financial had a return on equity of 12.99% and a net margin of 28.50%. The business had revenue of $28.87 million for the quarter.

In other news, SVP David D. Kaiser sold 963 shares of Arrow Financial stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $38.99, for a total transaction of $37,547.37. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Raymond F. O’conor sold 1,000 shares of Arrow Financial stock in a transaction dated Monday, July 30th. The stock was sold at an average price of $38.89, for a total value of $38,890.00. Following the sale, the director now owns 45,531 shares in the company, valued at approximately $1,770,700.59. The disclosure for this sale can be found here. Insiders have sold 3,463 shares of company stock worth $134,387 in the last quarter. Insiders own 4.42% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of AROW. First Republic Investment Management Inc. increased its position in shares of Arrow Financial by 132.6% during the second quarter. First Republic Investment Management Inc. now owns 87,558 shares of the financial services provider’s stock worth $3,187,000 after purchasing an additional 49,919 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Arrow Financial by 4.5% during the second quarter. Dimensional Fund Advisors LP now owns 620,378 shares of the financial services provider’s stock worth $22,582,000 after purchasing an additional 26,657 shares in the last quarter. BlackRock Inc. increased its position in shares of Arrow Financial by 2.4% during the second quarter. BlackRock Inc. now owns 995,643 shares of the financial services provider’s stock worth $36,242,000 after purchasing an additional 23,234 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Arrow Financial by 3.4% during the second quarter. Renaissance Technologies LLC now owns 301,760 shares of the financial services provider’s stock worth $10,984,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Arrow Financial by 15.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 74,023 shares of the financial services provider’s stock worth $2,695,000 after purchasing an additional 9,828 shares in the last quarter. Institutional investors and hedge funds own 39.12% of the company’s stock.

About Arrow Financial

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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