Arrow Financial (NASDAQ:AROW) Upgraded to “Hold” by StockNews.com

StockNews.com upgraded shares of Arrow Financial (NASDAQ:AROW) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

Separately, Hovde Group began coverage on Arrow Financial in a report on Tuesday, January 9th. They issued a market perform rating for the company.

Arrow Financial Price Performance

AROW stock opened at $22.79 on Friday. The stock has a 50-day moving average price of $23.91 and a two-hundred day moving average price of $24.17. The stock has a market cap of $377.24 million, a PE ratio of 12.88 and a beta of 0.70. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.07. Arrow Financial has a 1 year low of $16.65 and a 1 year high of $29.66.

Arrow Financial (NASDAQ:AROW) last released its earnings results on Thursday, February 1st. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). The firm had revenue of $33.10 million for the quarter, compared to the consensus estimate of $35.01 million. Arrow Financial had a return on equity of 8.21% and a net margin of 15.69%. Equities analysts forecast that Arrow Financial will post 2.33 EPS for the current fiscal year.

Arrow Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Monday, February 12th were paid a $0.27 dividend. This is an increase from Arrow Financial’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 4.74%. The ex-dividend date was Friday, February 9th. Arrow Financial’s dividend payout ratio (DPR) is 61.02%.

Institutional Investors Weigh In On Arrow Financial

Several hedge funds have recently bought and sold shares of the company. LPL Financial LLC lifted its stake in Arrow Financial by 3.8% in the 2nd quarter. LPL Financial LLC now owns 7,904 shares of the financial services provider’s stock valued at $251,000 after purchasing an additional 292 shares during the last quarter. First Republic Investment Management Inc. lifted its stake in Arrow Financial by 0.3% in the 1st quarter. First Republic Investment Management Inc. now owns 105,410 shares of the financial services provider’s stock valued at $3,417,000 after purchasing an additional 324 shares during the last quarter. MetLife Investment Management LLC lifted its stake in Arrow Financial by 4.5% in the 4th quarter. MetLife Investment Management LLC now owns 7,569 shares of the financial services provider’s stock valued at $257,000 after purchasing an additional 328 shares during the last quarter. NBT Bank N A NY lifted its stake in Arrow Financial by 3.0% in the 3rd quarter. NBT Bank N A NY now owns 13,338 shares of the financial services provider’s stock valued at $385,000 after purchasing an additional 387 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in Arrow Financial by 71.9% during the first quarter. Great West Life Assurance Co. Can now owns 944 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 395 shares during the last quarter. 46.71% of the stock is currently owned by institutional investors and hedge funds.

Arrow Financial Company Profile

Arrow Financial Corporation, a bank holding company, provides commercial and consumer banking, and financial products and services. The company's deposit products include demand deposits, interest-bearing checking accounts, savings deposits, time deposits, and other time deposits. Its lending activities comprise commercial loans, such as term loans, time notes, and lines of credit; and commercial real estate loans to finance real estate purchases, refinancing, expansions, and enhancement to commercial properties, as well as commercial construction and land development loans to finance projects.