Arrow Financial Co. (NASDAQ:AROW) Sees Large Increase in Short Interest

Arrow Financial Co. (NASDAQ:AROW) was the target of a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 125,200 shares, a growth of 19.1% from the June 30th total of 105,100 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average trading volume of 33,200 shares, the days-to-cover ratio is currently 3.8 days.

Several hedge funds have recently modified their holdings of the company. Janney Montgomery Scott LLC purchased a new position in shares of Arrow Financial during the second quarter valued at $938,000. SG Americas Securities LLC boosted its position in Arrow Financial by 53.2% during the second quarter. SG Americas Securities LLC now owns 7,010 shares of the financial services provider’s stock valued at $208,000 after purchasing an additional 2,435 shares during the last quarter. HighTower Advisors LLC acquired a new stake in Arrow Financial during the first quarter valued at $413,000. Two Sigma Advisers LP boosted its position in Arrow Financial by 25.9% during the first quarter. Two Sigma Advisers LP now owns 12,647 shares of the financial services provider’s stock valued at $352,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in Arrow Financial by 17.0% during the first quarter. Wells Fargo & Company MN now owns 77,395 shares of the financial services provider’s stock valued at $2,157,000 after purchasing an additional 11,231 shares during the last quarter. Institutional investors and hedge funds own 42.55% of the company’s stock.

AROW has been the topic of a number of recent research reports. Zacks Investment Research upgraded Arrow Financial from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Tuesday, June 30th. BidaskClub cut Arrow Financial from a “sell” rating to a “strong sell” rating in a report on Thursday, July 9th.

Shares of AROW stock opened at $27.30 on Friday. Arrow Financial has a 1-year low of $20.78 and a 1-year high of $38.31. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $409.06 million, a price-to-earnings ratio of 11.05 and a beta of 0.64. The stock’s fifty day simple moving average is $28.22 and its 200-day simple moving average is $29.70.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.07. Arrow Financial had a return on equity of 12.32% and a net margin of 26.09%. The business had revenue of $32.01 million for the quarter, compared to the consensus estimate of $30.58 million. On average, sell-side analysts predict that Arrow Financial will post 2.45 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Wednesday, September 2nd will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.81%. Arrow Financial’s dividend payout ratio is 41.60%.

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.

Read More: Economic Bubble

Receive News & Ratings for Arrow Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arrow Financial and related companies with MarketBeat.com's FREE daily email newsletter.