Insider Selling: Arrow Financial Co. (NASDAQ:AROW) Director Sells 2,000 Shares of Stock

Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 2,000 shares of Arrow Financial stock in a transaction 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 transaction, the director now owns 37,859 shares in the company, valued at approximately $1,237,610.71. The trade was a 5.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Arrow Financial Trading Down 1.8 %

NASDAQ:AROW traded down $0.61 during trading hours on Tuesday, hitting $32.46. The company had a trading volume of 38,602 shares, compared to its average volume of 41,639. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a 50-day moving average price of $30.33 and a 200 day moving average price of $28.48. The company has a market capitalization of $543.38 million, a PE ratio of 16.87 and a beta of 0.75. Arrow Financial Co. has a 52 week low of $21.50 and a 52 week high of $34.63.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 for the quarter.

Arrow Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 29th. Investors of record on Tuesday, October 15th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.12 annualized dividend and a yield of 3.45%. This is a positive change from Arrow Financial’s previous quarterly dividend of $0.27. Arrow Financial’s payout ratio is presently 57.14%.

Wall Street Analyst Weigh In

Separately, Hovde Group assumed coverage on Arrow Financial in a report on Monday, September 9th. They set a “market perform” rating and a $31.00 target price for the company.

Hedge Funds Weigh In On Arrow Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Arrow Financial Corp boosted its position in shares of Arrow Financial by 6.6% in the 2nd quarter. Arrow Financial Corp now owns 1,946,595 shares of the financial services provider’s stock worth $50,709,000 after purchasing an additional 119,715 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Arrow Financial by 13.7% during the second quarter. American Century Companies Inc. now owns 266,651 shares of the financial services provider’s stock valued at $6,946,000 after acquiring an additional 32,158 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Arrow Financial by 136.2% during the 3rd 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 purchasing an additional 31,741 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in 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 valued at $18,241,000 after purchasing an additional 31,268 shares in the last quarter. Finally, Barclays PLC increased its stake in Arrow Financial by 251.9% during the 3rd quarter. Barclays PLC now owns 21,411 shares of the financial services provider’s stock valued at $614,000 after purchasing an additional 15,327 shares in the last quarter. Institutional investors own 46.71% 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 enhancement to commercial properties, as well as commercial construction and land development loans to finance projects.