Insider Selling: Arrow Financial (NASDAQ:AROW) Director Sells $158,604.90 in Stock

Arrow Financial Corporation (NASDAQ:AROW) Director Mark Behan sold 4,110 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $38.59, for a total value of $158,604.90. Following the transaction, the director directly owned 8,929 shares of the company’s stock, valued at $344,570.11. The trade was a 31.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Arrow Financial Stock Performance

Shares of AROW opened at $40.36 on Thursday. The stock has a 50-day simple moving average of $37.13 and a 200-day simple moving average of $34.62. 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 has a market capitalization of $667.15 million, a PE ratio of 13.06 and a beta of 0.77. Arrow Financial Corporation has a 1 year low of $25.83 and a 1 year high of $40.54.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.06. The business had revenue of $53.39 million during the quarter, compared to the consensus estimate of $43.80 million. Arrow Financial had a return on equity of 12.38% and a net margin of 20.72%. On average, analysts predict that Arrow Financial Corporation will post 3.8 earnings per share for the current fiscal year.

Arrow Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.0%. Arrow Financial’s dividend payout ratio is currently 38.83%.

Institutional Trading of Arrow Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its holdings in shares of Arrow Financial by 67.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,612 shares of the financial services provider’s stock valued at $43,000 after buying an additional 648 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Arrow Financial by 2,045.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,523 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,452 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in 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 valued at $49,000 after acquiring an additional 338 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Arrow Financial by 306.5% in the second quarter. Tower Research Capital LLC TRC now owns 2,390 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 1,802 shares during the last quarter. Finally, LSV Asset Management acquired a new position in Arrow Financial in the fourth quarter valued at $75,000. Institutional investors and hedge funds own 46.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AROW. Zacks Research raised shares of Arrow Financial to a “hold” rating in a research report on Monday, June 15th. Weiss Ratings raised Arrow Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Piper Sandler assumed coverage on Arrow Financial in a research note on Friday, June 12th. They issued an “overweight” rating and a $43.00 price target on the stock. Finally, Wall Street Zen downgraded Arrow Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.75.

Arrow Financial Company Profile

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.