Arrow Financial Corporation (NASDAQ:AROW) Short Interest Down 18.2% in April

Arrow Financial Corporation (NASDAQ:AROW) saw a significant decrease in short interest during the month of April. As of April 15th, there was short interest totaling 175,020 shares, a decrease of 18.2% from the March 31st total of 214,063 shares. Based on an average daily trading volume, of 105,584 shares, the days-to-cover ratio is presently 1.7 days. Currently, 1.1% of the company’s shares are sold short.

Arrow Financial Stock Up 0.8%

Shares of AROW traded up $0.29 during mid-day trading on Friday, hitting $37.14. 61,328 shares of the company’s stock were exchanged, compared to its average volume of 91,193. The company has a market cap of $613.92 million, a price-to-earnings ratio of 14.02 and a beta of 0.78. Arrow Financial has a fifty-two week low of $24.41 and a fifty-two week high of $38.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.92 and a current ratio of 0.92. The stock’s 50-day moving average is $34.42 and its 200-day moving average is $32.40.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.06. The business had revenue of $53.79 million for the quarter, compared to analysts’ expectations of $43.80 million. Arrow Financial had a net margin of 18.12% and a return on equity of 10.77%.

Arrow Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, May 12th. Arrow Financial’s dividend payout ratio is currently 45.28%.

Analyst Upgrades and Downgrades

AROW has been the topic of a number of recent analyst reports. Hovde Group upped their target price on shares of Arrow Financial from $33.50 to $34.50 and gave the company a “market perform” rating in a research report on Monday, February 2nd. Wall Street Zen raised shares of Arrow Financial from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Finally, Weiss Ratings raised shares of Arrow Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $31.25.

Institutional Trading of Arrow Financial

Several hedge funds have recently made changes to their positions in AROW. AQR Capital Management LLC lifted its position in shares of Arrow Financial by 31.0% during the first quarter. AQR Capital Management LLC now owns 12,470 shares of the financial services provider’s stock worth $328,000 after purchasing an additional 2,949 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Arrow Financial by 4.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,796 shares of the financial services provider’s stock worth $258,000 after purchasing an additional 390 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Arrow Financial by 131.3% during the first quarter. Jane Street Group LLC now owns 27,272 shares of the financial services provider’s stock worth $717,000 after purchasing an additional 15,482 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Arrow Financial during the first quarter worth approximately $311,000. Finally, Rhumbline Advisers increased its stake in shares of Arrow Financial by 1.5% during the second quarter. Rhumbline Advisers now owns 25,307 shares of the financial services provider’s stock worth $669,000 after buying an additional 367 shares during the period. Institutional investors and hedge funds own 46.71% of the company’s stock.

About Arrow Financial

Arrow Financial Corporation is a bank holding company headquartered in Glens Falls, New York, that conducts its primary operations through its subsidiary, Glens Falls National Bank & Trust Company. The company provides a comprehensive suite of retail and commercial banking services, including checking and savings accounts, consumer and commercial lending, mortgage financing, and cash management solutions. Through its branch network, Arrow Financial serves individuals, small- and medium-sized businesses, and nonprofit organizations across the Adirondack region, Upper Hudson Valley, Mohawk Valley and parts of Central New York.

In addition to traditional banking, Arrow Financial has developed a robust wealth management and trust services division.