Arrow Financial Co. (NASDAQ:AROW) Declares Quarterly Dividend of $0.27

Arrow Financial Co. (NASDAQ:AROW) announced a quarterly dividend on Tuesday, April 30th, Zacks reports. Stockholders of record on Monday, May 13th will be given a dividend of 0.27 per share by the financial services provider on Friday, May 24th. This represents a $1.08 annualized dividend and a dividend yield of 4.59%. The ex-dividend date is Friday, May 10th.

Arrow Financial has increased its dividend payment by an average of 4.3% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. Arrow Financial has a payout ratio of 41.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Arrow Financial to earn $2.71 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 39.9%.

Arrow Financial Stock Down 0.3 %

Shares of AROW stock opened at $23.54 on Wednesday. The stock has a market cap of $392.88 million, a P/E ratio of 13.69 and a beta of 0.72. Arrow Financial has a one year low of $16.65 and a one year high of $29.66. The stock has a fifty day moving average price of $23.61 and a 200 day moving average price of $24.72. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.90 and a quick ratio of 0.90.

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

Analyst Ratings Changes

AROW has been the subject of several recent analyst reports. Hovde Group initiated coverage on Arrow Financial in a research note on Tuesday, January 9th. They set a “market perform” rating for the company. StockNews.com lowered Arrow Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st.

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.