Arrow Financial (NASDAQ:AROW) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Arrow Financial (NASDAQ:AROW) from a buy rating to a hold rating in a report published on Saturday.

Several other equities research analysts also recently weighed in on AROW. Hovde Group upped their target price on Arrow Financial from $33.50 to $34.50 and gave the stock a “market perform” rating in a research report on Monday, February 2nd. Weiss Ratings raised Arrow Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.50.

Arrow Financial Price Performance

AROW stock opened at $35.19 on Friday. The stock has a 50-day moving average price of $34.85 and a two-hundred day moving average price of $33.03. Arrow Financial has a 12-month low of $24.57 and a 12-month high of $38.09. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.06. The company has a market cap of $581.69 million, a PE ratio of 11.39 and a beta of 0.78.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.06. Arrow Financial had a return on equity of 12.38% and a net margin of 20.72%.The firm had revenue of $53.39 million during the quarter, compared to the consensus estimate of $43.80 million.

Arrow Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th will be paid a $0.30 dividend. The ex-dividend date is Tuesday, May 12th. This represents a $1.20 annualized dividend and a dividend yield of 3.4%. Arrow Financial’s payout ratio is 38.83%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co lifted its stake in shares of Arrow Financial by 27.7% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,557 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 338 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Arrow Financial by 1.5% in the second quarter. Rhumbline Advisers now owns 25,307 shares of the financial services provider’s stock worth $669,000 after acquiring an additional 367 shares in the last quarter. Johnson Investment Counsel Inc. lifted its stake in shares of Arrow Financial by 0.6% in the third quarter. Johnson Investment Counsel Inc. now owns 59,992 shares of the financial services provider’s stock worth $1,698,000 after acquiring an additional 370 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Arrow Financial by 4.1% in 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 acquiring an additional 390 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of Arrow Financial by 0.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 119,842 shares of the financial services provider’s stock worth $3,763,000 after acquiring an additional 511 shares in the last quarter. 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.