Arrow Financial Corporation (NASDAQ:AROW) Receives $39.83 Consensus Target Price from Analysts

Arrow Financial Corporation (NASDAQ:AROW) has been assigned an average rating of “Hold” from the five analysts that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $39.8333.

A number of brokerages have recently weighed in on AROW. Wall Street Zen lowered Arrow Financial from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings upgraded Arrow Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Piper Sandler started coverage on Arrow Financial in a report on Friday, June 12th. They set an “overweight” rating and a $43.00 price target on the stock. Keefe, Bruyette & Woods started coverage on Arrow Financial in a research note on Thursday, June 25th. They issued a “market perform” rating and a $42.00 price objective for the company. Finally, Zacks Research upgraded shares of Arrow Financial to a “hold” rating in a report on Monday, June 15th.

Insider Activity

In other news, Director Mark Behan sold 4,110 shares of Arrow Financial stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $38.59, for a total transaction of $158,604.90. Following the transaction, the director owned 8,929 shares in the company, valued at approximately $344,570.11. The trade was a 31.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.48% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Segall Bryant & Hamill LLC bought a new stake in shares of Arrow Financial in the 4th quarter valued at about $2,175,000. Arrowstreet Capital Limited Partnership raised its position in shares of Arrow Financial by 71.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 114,449 shares of the financial services provider’s stock worth $3,842,000 after acquiring an additional 47,752 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Arrow Financial in the first quarter worth approximately $995,000. Millennium Management LLC acquired a new position in shares of Arrow Financial in the third quarter worth approximately $834,000. Finally, Rhino Investment Partners Inc boosted its holdings in Arrow Financial by 13.9% in the third quarter. Rhino Investment Partners Inc now owns 227,804 shares of the financial services provider’s stock valued at $6,447,000 after acquiring an additional 27,856 shares during the last quarter. 46.71% of the stock is owned by institutional investors.

Arrow Financial Trading Up 2.6%

AROW stock opened at $42.07 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.92 and a quick ratio of 0.92. The company has a fifty day moving average price of $37.57 and a two-hundred day moving average price of $34.96. Arrow Financial has a one year low of $25.83 and a one year high of $42.16. The stock has a market cap of $695.42 million, a price-to-earnings ratio of 13.61 and a beta of 0.76.

Arrow Financial (NASDAQ:AROW) last posted its earnings results on Thursday, April 30th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.06. The company had revenue of $53.39 million during the quarter, compared to analysts’ expectations of $43.80 million. Arrow Financial had a net margin of 20.72% and a return on equity of 12.38%. Equities analysts anticipate that Arrow Financial will post 3.8 EPS for the current year.

Arrow Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.9%. The ex-dividend date was Tuesday, May 12th. Arrow Financial’s dividend payout ratio is 38.83%.

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.