Arrow Financial Co. (NASDAQ:AROW) Short Interest Up 8.3% in December

Arrow Financial Co. (NASDAQ:AROW) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 124,400 shares, an increase of 8.3% from the December 15th total of 114,900 shares. Based on an average daily volume of 41,800 shares, the short-interest ratio is presently 3.0 days.

Insider Buying and Selling at Arrow Financial

In related news, Director Raymond F. O’conor sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $32.69, for a total transaction of $65,380.00. Following the completion of the sale, the director now directly owns 37,859 shares of the company’s stock, valued at approximately $1,237,610.71. This trade represents a 5.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 6,000 shares of company stock worth $180,080 over the last ninety days. Company insiders own 3.55% of the company’s stock.

Institutional Trading of Arrow Financial

A number of hedge funds have recently modified their holdings of the stock. American Century Companies Inc. raised its holdings in Arrow Financial by 13.7% in the 2nd 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 during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Arrow Financial by 136.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,050 shares of the financial services provider’s stock valued at $1,578,000 after buying an additional 31,741 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Arrow Financial by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 700,253 shares of the financial services provider’s stock worth $18,241,000 after buying an additional 31,268 shares during the period. Arrow Financial Corp lifted its position in shares of Arrow Financial by 1.2% during the 3rd quarter. Arrow Financial Corp now owns 1,969,793 shares of the financial services provider’s stock valued at $56,454,000 after buying an additional 23,198 shares in the last quarter. Finally, Trust Co. of Vermont grew its stake in Arrow Financial by 49.5% in the 4th quarter. Trust Co. of Vermont now owns 57,365 shares of the financial services provider’s stock valued at $1,647,000 after acquiring an additional 19,000 shares during the period. Hedge funds and other institutional investors own 46.71% of the company’s stock.

Arrow Financial Stock Up 0.4 %

Shares of AROW stock opened at $27.39 on Monday. The stock’s fifty day moving average price is $30.41 and its 200 day moving average price is $29.48. Arrow Financial has a 1-year low of $21.50 and a 1-year high of $34.63. The company has a market cap of $458.51 million, a price-to-earnings ratio of 13.97 and a beta of 0.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.93 and a quick ratio of 0.93.

Arrow Financial (NASDAQ:AROW) last released its earnings results on Thursday, October 31st. The financial services provider reported $0.53 EPS for the quarter, hitting analysts’ consensus estimates of $0.53. Arrow Financial had a net margin of 15.00% and a return on equity of 8.59%. The company had revenue of $57.58 million during the quarter. On average, research analysts expect that Arrow Financial will post 2.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Hovde Group dropped their target price on shares of Arrow Financial from $34.50 to $32.00 and set a “market perform” rating on the stock in a report on Friday, December 27th. Piper Sandler started coverage on shares of Arrow Financial in a report on Friday, December 20th. They set a “neutral” rating and a $32.00 price objective 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.