Arrow Financial Corporation (NASDAQ:AROW) Declares Quarterly Dividend of $0.30

Arrow Financial Corporation (NASDAQ:AROW) announced a quarterly dividend on Thursday, April 30th. Stockholders of record on Tuesday, May 12th will be given a dividend of 0.30 per share by the financial services provider on Tuesday, May 26th. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, May 12th.

Arrow Financial has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Arrow Financial has a dividend payout ratio of 41.1% indicating that its dividend is sufficiently covered by earnings.

Arrow Financial Price Performance

NASDAQ:AROW opened at $36.85 on Friday. Arrow Financial has a 52 week low of $23.36 and a 52 week high of $38.09. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $609.13 million, a PE ratio of 13.91 and a beta of 0.78. The stock’s 50-day moving average price is $34.42 and its 200-day moving average price is $32.40.

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

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.