Arrow Financial (NASDAQ:AROW) Rating Lowered to Sell at StockNews.com

StockNews.com downgraded shares of Arrow Financial (NASDAQ:AROW) from a hold rating to a sell rating in a research report sent to investors on Wednesday.

Separately, Hovde Group initiated coverage on shares of Arrow Financial in a research note on Tuesday, January 9th. They issued a market perform rating for the company.

Arrow Financial Trading Up 1.0 %

Shares of NASDAQ:AROW opened at $23.66 on Wednesday. Arrow Financial has a 52-week low of $16.65 and a 52-week high of $29.66. The company has a market capitalization of $394.89 million, a P/E ratio of 13.76 and a beta of 0.72. The company has a 50-day simple moving average of $23.63 and a 200 day simple moving average of $24.60. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.90 and a current ratio of 0.90.

Arrow Financial (NASDAQ:AROW) last issued its earnings results on Tuesday, April 30th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.02). Arrow Financial had a net margin of 14.34% and a return on equity of 7.95%. The firm had revenue of $54.54 million during the quarter, compared to analyst estimates of $33.29 million. Sell-side analysts forecast that Arrow Financial will post 2.29 earnings per share for the current year.

Arrow Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 13th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, May 10th. This represents a $1.08 annualized dividend and a yield of 4.56%. Arrow Financial’s dividend payout ratio (DPR) is presently 62.81%.

Institutional Investors Weigh In On Arrow Financial

Several hedge funds have recently bought and sold shares of the stock. Financial Counselors Inc. lifted its position in Arrow Financial by 3.0% during the third quarter. Financial Counselors Inc. now owns 17,612 shares of the financial services provider’s stock worth $300,000 after acquiring an additional 510 shares during the last quarter. M&T Bank Corp raised its position in shares of Arrow Financial by 2.4% in the third quarter. M&T Bank Corp now owns 26,412 shares of the financial services provider’s stock valued at $450,000 after buying an additional 630 shares in the last quarter. Adirondack Trust Co. raised its position in shares of Arrow Financial by 3.0% in the fourth quarter. Adirondack Trust Co. now owns 21,984 shares of the financial services provider’s stock valued at $614,000 after buying an additional 635 shares in the last quarter. Waldron Private Wealth LLC raised its position in shares of Arrow Financial by 3.0% in the third quarter. Waldron Private Wealth LLC now owns 23,955 shares of the financial services provider’s stock valued at $407,000 after buying an additional 697 shares in the last quarter. Finally, HighTower Advisors LLC raised its position in shares of Arrow Financial by 5.1% in the third quarter. HighTower Advisors LLC now owns 15,982 shares of the financial services provider’s stock valued at $273,000 after buying an additional 770 shares in the last quarter. 46.71% of the stock is currently owned by institutional investors and hedge funds.

About Arrow Financial

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.