Arrow Financial (NASDAQ:AROW) Upgraded to “Buy” by BidaskClub

Arrow Financial (NASDAQ:AROW) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Friday, BidAskClub reports.

Shares of AROW traded up $0.31 during mid-day trading on Friday, hitting $37.31. The stock had a trading volume of 27,300 shares, compared to its average volume of 17,590. The company has a market cap of $545.74 million, a PE ratio of 14.95 and a beta of 0.60. The company’s fifty day simple moving average is $35.72 and its two-hundred day simple moving average is $33.84. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.35. Arrow Financial has a fifty-two week low of $30.45 and a fifty-two week high of $37.48.

Arrow Financial (NASDAQ:AROW) last issued its earnings results on Tuesday, October 22nd. The financial services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.62 by $0.05. The company had revenue of $29.99 million during the quarter. Arrow Financial had a return on equity of 13.00% and a net margin of 26.90%.

In other news, Chairman Thomas L. Hoy sold 1,500 shares of Arrow Financial stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $36.05, for a total value of $54,075.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary C. Dake sold 3,500 shares of Arrow Financial stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $35.17, for a total value of $123,095.00. Following the completion of the transaction, the director now owns 32,554 shares of the company’s stock, valued at approximately $1,144,924.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,150 shares of company stock valued at $217,264. Insiders own 4.02% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in AROW. Bank of Montreal Can boosted its position in Arrow Financial by 144.9% during the 2nd quarter. Bank of Montreal Can now owns 1,778 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 1,052 shares during the period. Metropolitan Life Insurance Co NY boosted its position in Arrow Financial by 14.5% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 4,533 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 574 shares during the period. Russell Investments Group Ltd. boosted its position in Arrow Financial by 8.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 5,141 shares of the financial services provider’s stock valued at $179,000 after purchasing an additional 400 shares during the period. HM Payson & Co. acquired a new position in Arrow Financial during the 2nd quarter valued at approximately $186,000. Finally, JPMorgan Chase & Co. boosted its position in Arrow Financial by 7.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,220 shares of the financial services provider’s stock valued at $278,000 after purchasing an additional 577 shares during the period. Institutional investors and hedge funds own 41.71% of the company’s 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 improvements to commercial properties, as well as commercial construction and land development loans to finance projects.

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