Raymond F. O’conor Sells 2,000 Shares of Arrow Financial Co. (NASDAQ:AROW) Stock

Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $28.04, for a total value of $56,080.00. Following the transaction, the director now owns 41,176 shares in the company, valued at $1,154,575.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Arrow Financial Stock Performance

Shares of NASDAQ:AROW opened at $27.63 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $461.37 million, a price-to-earnings ratio of 16.06 and a beta of 0.73. The firm has a 50 day moving average of $28.99 and a 200 day moving average of $26.30. Arrow Financial Co. has a 52 week low of $16.70 and a 52 week high of $32.92.

Arrow Financial (NASDAQ:AROW) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.52 EPS for the quarter. Arrow Financial had a return on equity of 8.46% and a net margin of 14.94%. The firm had revenue of $55.83 million during the quarter.

Arrow Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 12th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date was Monday, August 12th. Arrow Financial’s dividend payout ratio is currently 62.79%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. American Century Companies Inc. boosted its stake in Arrow Financial by 13.7% in the second quarter. American Century Companies Inc. now owns 266,651 shares of the financial services provider’s stock valued at $6,946,000 after acquiring an additional 32,158 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Arrow Financial by 1.4% during the first quarter. Vanguard Group Inc. now owns 795,274 shares of the financial services provider’s stock worth $19,898,000 after purchasing an additional 10,636 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Arrow Financial by 90.9% during the 1st quarter. BNP Paribas Financial Markets now owns 7,263 shares of the financial services provider’s stock valued at $182,000 after purchasing an additional 3,459 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Arrow Financial by 7.7% in the 1st quarter. Empowered Funds LLC now owns 26,764 shares of the financial services provider’s stock worth $670,000 after purchasing an additional 1,925 shares in the last quarter. Finally, Financial Counselors Inc. grew its stake in Arrow Financial by 11.4% during the 1st quarter. Financial Counselors Inc. now owns 19,612 shares of the financial services provider’s stock worth $491,000 after buying an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 46.71% of the company’s stock.

Analyst Upgrades and Downgrades

AROW has been the topic of a number of recent research reports. StockNews.com raised Arrow Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th. Hovde Group started coverage on shares of Arrow Financial in a report on Monday, September 9th. They set a “market perform” rating and a $31.00 target price on the stock.

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.