Insider Selling: Arrow Financial Co. (NASDAQ:AROW) Director Sells 2,000 Shares of Stock

Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 2,000 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $28.50, for a total value of $57,000.00. Following the transaction, the director now directly owns 39,496 shares in the company, valued at approximately $1,125,636. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Arrow Financial Stock Up 2.2 %

AROW stock opened at $29.40 on Wednesday. The business’s 50-day moving average is $28.85 and its two-hundred day moving average is $27.19. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.92 and a current ratio of 0.92. Arrow Financial Co. has a fifty-two week low of $21.50 and a fifty-two week high of $32.92. The company has a market cap of $491.95 million, a price-to-earnings ratio of 15.00 and a beta of 0.72.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings data on Thursday, October 31st. The financial services provider reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. Arrow Financial had a return on equity of 8.67% and a net margin of 15.00%. The firm had revenue of $57.58 million for the quarter.

Arrow Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Tuesday, October 15th were paid a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.12 annualized dividend and a dividend yield of 3.81%. This is an increase from Arrow Financial’s previous quarterly dividend of $0.27. Arrow Financial’s dividend payout ratio (DPR) is 57.14%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AROW. Arrow Financial Corp raised its stake in shares of Arrow Financial by 6.6% in the second quarter. Arrow Financial Corp now owns 1,946,595 shares of the financial services provider’s stock worth $50,709,000 after buying an additional 119,715 shares during the period. American Century Companies Inc. grew its position in shares of Arrow Financial by 13.7% during the second quarter. American Century Companies Inc. now owns 266,651 shares of the financial services provider’s stock worth $6,946,000 after purchasing an additional 32,158 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Arrow Financial by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 700,253 shares of the financial services provider’s stock worth $18,241,000 after purchasing an additional 31,268 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Arrow Financial by 12.0% during the second quarter. Bank of New York Mellon Corp now owns 129,326 shares of the financial services provider’s stock worth $3,369,000 after purchasing an additional 13,829 shares in the last quarter. Finally, Vanguard Group Inc. grew 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. Institutional investors own 46.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Hovde Group assumed coverage on Arrow Financial in a report on Monday, September 9th. They issued a “market perform” rating and a $31.00 target price on the stock. StockNews.com raised Arrow Financial from a “sell” rating to a “hold” rating in a report on Tuesday, July 30th.

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.