Arrow Financial (NASDAQ:AROW) Announces Quarterly Earnings Results

Arrow Financial (NASDAQ:AROW) released its earnings results on Thursday. The financial services provider reported $0.52 earnings per share for the quarter, Zacks reports. The company had revenue of $55.83 million during the quarter. Arrow Financial had a return on equity of 7.89% and a net margin of 14.34%.

Arrow Financial Stock Down 0.7 %

Shares of Arrow Financial stock traded down $0.24 on Friday, reaching $32.17. 56,278 shares of the company were exchanged, compared to its average volume of 43,559. Arrow Financial has a 1-year low of $16.65 and a 1-year high of $32.92. The company has a market cap of $537.24 million, a P/E ratio of 18.60 and a beta of 0.74. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.90 and a quick ratio of 0.90. The stock’s 50 day moving average price is $26.08 and its 200-day moving average price is $24.91.

Arrow Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 12th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Monday, August 12th. Arrow Financial’s dividend payout ratio is presently 62.81%.

Insider Transactions at Arrow Financial

In other news, Director Raymond F. O’conor sold 4,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $23.63, for a total transaction of $94,520.00. Following the completion of the transaction, the director now directly owns 46,419 shares of the company’s stock, valued at $1,096,880.97. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.55% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Arrow Financial from a “hold” rating to a “sell” rating in a research report on Monday.

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.