Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 500 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $33.20, for a total transaction of $16,600.00. Following the completion of the sale, the director now directly owns 48,827 shares of the company’s stock, valued at approximately $1,621,056.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 transaction of $17,175.00.
Arrow Financial Co. (NASDAQ AROW) traded up $0.30 during trading hours on Friday, reaching $33.15. The company had a trading volume of 8,320 shares, compared to its average volume of 16,856. The firm has a market capitalization of $457.60, a price-to-earnings ratio of 16.26 and a beta of 0.62. Arrow Financial Co. has a 1 year low of $30.70 and a 1 year high of $38.60. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.44.
Arrow Financial (NASDAQ:AROW) last released its earnings results on Tuesday, January 30th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.06). The firm 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 declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be paid a $0.25 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $1.00 dividend on an annualized basis and a yield of 3.02%. Arrow Financial’s dividend payout ratio is currently 47.61%.
Arrow Financial declared that its Board of Directors has authorized a share buyback program on Friday, October 27th that authorizes the company to repurchase $5.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Arrow Financial Corp increased its stake in Arrow Financial by 2.9% in the 3rd quarter. Arrow Financial Corp now owns 1,439,384 shares of the financial services provider’s stock worth $49,443,000 after purchasing an additional 40,738 shares in the last quarter. Vanguard Group Inc. grew its stake in Arrow Financial by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 585,803 shares of the financial services provider’s stock valued at $18,540,000 after acquiring an additional 4,641 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Arrow Financial by 9.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 542,323 shares of the financial services provider’s stock valued at $18,629,000 after acquiring an additional 48,209 shares in the last quarter. State Street Corp grew its stake in Arrow Financial by 8.7% during the 2nd quarter. State Street Corp now owns 233,508 shares of the financial services provider’s stock valued at $7,389,000 after acquiring an additional 18,675 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Arrow Financial by 6.1% during the 2nd quarter. Northern Trust Corp now owns 190,947 shares of the financial services provider’s stock valued at $6,044,000 after acquiring an additional 11,021 shares in the last quarter. 39.96% of the stock is currently owned by hedge funds and other institutional investors.
AROW has been the topic of a number of recent research reports. Sandler O’Neill set a $37.00 target price on Arrow Financial and gave the company a “hold” rating in a research note on Wednesday, January 3rd. BidaskClub cut shares of Arrow Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd.
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Arrow Financial Company Profile
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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