Arrow Financial (NASDAQ:AROW) Issues Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Arrow Financial (NASDAQ:AROW) released its earnings results on Tuesday. The financial services provider reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.02), Yahoo Finance reports. Arrow Financial had a return on equity of 8.21% and a net margin of 15.69%. The business had revenue of $54.54 million for the quarter, compared to analysts’ expectations of $33.29 million.

Arrow Financial Stock Up 1.3 %

Shares of NASDAQ:AROW traded up $0.29 during mid-day trading on Wednesday, hitting $22.56. 10,123 shares of the company traded hands, compared to its average volume of 40,064. The firm has a market cap of $376.53 million, a P/E ratio of 12.71 and a beta of 0.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.90 and a current ratio of 0.90. Arrow Financial has a 52-week low of $16.65 and a 52-week high of $29.66. The firm’s 50 day simple moving average is $23.69 and its 200 day simple moving average is $24.53.

Arrow Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 13th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.08 annualized dividend and a dividend yield of 4.79%. Arrow Financial’s payout ratio is currently 60.87%.

Analyst Ratings Changes

A number of research firms have recently commented on AROW. Hovde Group began coverage on Arrow Financial in a report on Tuesday, January 9th. They issued a “market perform” rating on the stock. StockNews.com upgraded Arrow Financial from a “sell” rating to a “hold” rating in a report on Friday, April 19th.

Arrow Financial Company Profile

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.