Arrow Financial Corporation (NASDAQ:AROW) Stock Has Average Target Price of $41.62

Shares of Arrow Financial Corporation (NASDAQ:AROW) have received a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $41.62.

Several research firms have issued reports on AROW. Weiss Ratings reiterated a “buy (b)” rating on shares of Arrow Financial in a research note on Thursday, October 22nd. Raymond James Financial assumed coverage on Arrow Financial in a report on Tuesday, September 1st. They set an “outperform” rating and a $44.00 price objective for the company. Finally, Piper Sandler restated an “overweight” rating and issued a $46.00 target price (up from $43.00) on shares of Arrow Financial in a research note on Tuesday, July 28th.

Arrow Financial Stock Down 0.4%

Shares of AROW stock opened at $38.44 on Wednesday. The stock’s fifty day simple moving average is $37.86 and its 200 day simple moving average is $36.81. Arrow Financial has a one year low of $26.17 and a one year high of $42.70.

Institutional Trading of Arrow Financial

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Arrow Financial during the 2nd quarter valued at $57,377,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Arrow Financial during the second quarter worth $4,995,000. Bank of New York Mellon Corp acquired a new position in shares of Arrow Financial during the second quarter valued at $3,663,000. Trust Co. of Vermont acquired a new position in shares of Arrow Financial during the second quarter valued at $2,228,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake 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 valued at $3,842,000 after acquiring an additional 47,752 shares during the period. 46.71% of the stock is owned by institutional investors.

About Arrow Financial

Arrow Financial Corporation (NASDAQ: AROW) is a bank holding company headquartered in Glens Falls, New York. Through its banking subsidiaries, the company provides commercial and consumer banking services to individuals, families, businesses and municipalities.

Arrow’s offerings include checking and savings accounts, certificates of deposit, residential mortgages, home equity financing, consumer loans, commercial lending, treasury management and online banking. Through affiliated businesses, it also provides investment management, trust and financial planning services, as well as insurance products.

The company’s banking operations serve communities primarily in eastern New York, including the Capital Region, the Adirondacks and the surrounding areas.