Raymond F. O’conor Sells 500 Shares of Arrow Financial Co. (AROW) Stock

Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 500 shares of Arrow Financial stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $33.20, for a total value of $16,600.00. Following the sale, the director now directly owns 48,827 shares in the company, valued at approximately $1,621,056.40. The sale was disclosed in a document filed with the SEC, which is available at this link.

Raymond F. O’conor also recently made the following trade(s):

  • On Tuesday, January 16th, Raymond F. O’conor sold 500 shares of Arrow Financial stock. The stock was sold at an average price of $34.35, for a total value of $17,175.00.

Arrow Financial Co. (NASDAQ:AROW) opened at $33.20 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $459.69, a P/E ratio of 15.81 and a beta of 0.62. Arrow Financial Co. has a 52-week low of $30.70 and a 52-week high of $38.60.

Arrow Financial (NASDAQ:AROW) last posted its earnings results on Tuesday, January 30th. The financial services provider reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.06). The company had revenue of $27.07 million for the quarter. Arrow Financial had a return on equity of 11.75% and a net margin of 26.11%.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $1.00 annualized dividend and a dividend yield of 3.01%. Arrow Financial’s dividend payout ratio (DPR) is presently 47.61%.

Arrow Financial declared that its board has approved a stock buyback program on Friday, October 27th that authorizes the company to buyback $5.00 million in shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Several institutional investors have recently bought and sold shares of AROW. Ladenburg Thalmann Financial Services Inc. bought a new position in shares of Arrow Financial during the 4th quarter worth approximately $106,000. Russell Investments Group Ltd. bought a new position in shares of Arrow Financial during the 3rd quarter worth approximately $113,000. MetLife Investment Advisors LLC bought a new position in shares of Arrow Financial during the 4th quarter worth approximately $210,000. Goldman Sachs Group Inc. bought a new position in shares of Arrow Financial during the 2nd quarter worth approximately $216,000. Finally, Maple Capital Management Inc. bought a new position in shares of Arrow Financial during the 3rd quarter worth approximately $216,000. Institutional investors and hedge funds own 39.86% of the company’s stock.

Several research firms recently commented on AROW. Sandler O’Neill set a $37.00 target price on Arrow Financial and gave the stock a “hold” rating in a research report on Wednesday, January 3rd. BidaskClub downgraded Arrow Financial from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 25th.

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About Arrow Financial

Arrow Financial Corporation (Arrow) is a bank holding company. The Company’s banking subsidiaries are Glens Falls National Bank and Trust Company (Glens Falls National) and Saratoga National Bank and Trust Company (Saratoga National). It operates in community banking industry segment. The Company’s business consists primarily of the ownership, supervision and control of its two banks.

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