Arrow Financial Co. (NASDAQ:AROW) Short Interest Update

Arrow Financial Co. (NASDAQ:AROW) was the recipient of a significant drop in short interest in January. As of January 15th, there was short interest totalling 105,500 shares, a drop of 15.2% from the December 31st total of 124,400 shares. Based on an average daily trading volume, of 43,500 shares, the short-interest ratio is presently 2.4 days.

Analyst Ratings Changes

Several brokerages have commented on AROW. Hovde Group decreased their target price on shares of Arrow Financial from $34.50 to $32.00 and set a “market perform” rating for the company in a report on Friday, December 27th. Piper Sandler initiated coverage on shares of Arrow Financial in a research note on Friday, December 20th. They issued a “neutral” rating and a $32.00 price objective for the company.

Insider Buying and Selling

In related news, Director Raymond F. O’conor sold 2,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $32.69, for a total value of $65,380.00. Following the completion of the transaction, the director now owns 37,859 shares in the company, valued at $1,237,610.71. This trade represents a 5.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arrow Financial

Several large investors have recently made changes to their positions in AROW. Arrow Financial Corp boosted its stake 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 worth $56,454,000 after acquiring an additional 23,198 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Arrow Financial by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 700,253 shares of the financial services provider’s stock valued at $18,241,000 after buying an additional 31,268 shares during the period. State Street Corp raised its position in Arrow Financial by 0.3% in the third quarter. State Street Corp now owns 393,719 shares of the financial services provider’s stock worth $11,284,000 after purchasing an additional 1,022 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Arrow Financial by 0.9% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 118,630 shares of the financial services provider’s stock valued at $3,400,000 after purchasing an additional 1,100 shares during the period. Finally, Rockefeller Capital Management L.P. grew its position in Arrow Financial by 0.4% in the third quarter. Rockefeller Capital Management L.P. now owns 116,867 shares of the financial services provider’s stock valued at $3,349,000 after acquiring an additional 454 shares during the period. Institutional investors own 46.71% of the company’s stock.

Arrow Financial Stock Down 3.2 %

Shares of AROW traded down $0.84 during trading hours on Monday, reaching $25.77. The company’s stock had a trading volume of 27,994 shares, compared to its average volume of 39,771. The firm has a market cap of $431.39 million, a price-to-earnings ratio of 14.58 and a beta of 0.76. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06. The company has a 50 day moving average of $29.23 and a two-hundred day moving average of $29.49. Arrow Financial has a 1-year low of $21.50 and a 1-year high of $34.63.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.47 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.12). Arrow Financial had a net margin of 13.32% and a return on equity of 8.59%. As a group, research analysts predict that Arrow Financial will post 2.7 EPS for the current fiscal year.

Arrow Financial Increases Dividend

The company also recently declared a dividend, which will be paid on Monday, February 24th. Stockholders of record on Tuesday, February 11th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, February 10th. This is an increase from Arrow Financial’s previous dividend of $0.25. This represents a dividend yield of 4.21%. Arrow Financial’s dividend payout ratio (DPR) is 63.28%.

About Arrow Financial

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.