Raymond F. O’conor Sells 2,000 Shares of Arrow Financial Co. (NASDAQ:AROW) Stock

Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $28.04, for a total transaction of $56,080.00. Following the sale, the director now directly owns 41,176 shares in the company, valued at approximately $1,154,575.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Arrow Financial Price Performance

NASDAQ:AROW opened at $27.63 on Friday. The firm’s fifty day moving average is $28.99 and its two-hundred day moving average is $26.30. The firm has a market cap of $461.37 million, a price-to-earnings ratio of 16.06 and a beta of 0.73. Arrow Financial Co. has a one year low of $16.70 and a one year high of $32.92. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.92 and a current ratio of 0.92.

Arrow Financial (NASDAQ:AROW) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.52 EPS for the quarter. The firm had revenue of $55.83 million for the quarter. Arrow Financial had a return on equity of 8.46% and a net margin of 14.94%.

Arrow Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 12th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.91%. Arrow Financial’s payout ratio is 62.79%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AROW shares. Hovde Group began 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. StockNews.com raised shares of Arrow Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th.

Institutional Trading of Arrow Financial

Hedge funds have recently added to or reduced their stakes in the company. Arrow Financial Corp increased its position in shares of Arrow Financial by 6.6% in the second quarter. Arrow Financial Corp now owns 1,946,595 shares of the financial services provider’s stock valued at $50,709,000 after buying an additional 119,715 shares in the last quarter. American Century Companies Inc. grew its stake in Arrow Financial by 13.7% in the 2nd 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 during the period. Dimensional Fund Advisors LP grew its stake 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 acquiring an additional 31,268 shares during the period. Bank of New York Mellon Corp increased its holdings in Arrow Financial by 12.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 129,326 shares of the financial services provider’s stock worth $3,369,000 after acquiring an additional 13,829 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Arrow Financial by 1.4% during the first quarter. Vanguard Group Inc. now owns 795,274 shares of the financial services provider’s stock worth $19,898,000 after acquiring an additional 10,636 shares during the period. 46.71% of the stock is owned by hedge funds and other institutional investors.

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.