Arrow Financial Co. (NASDAQ:AROW) Director Sells $56,260.00 in Stock

Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $28.13, for a total value of $56,260.00. Following the completion of the transaction, the director now directly owns 45,176 shares in the company, valued at $1,270,800.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Arrow Financial Stock Performance

Shares of AROW opened at $28.77 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $480.40 million, a price-to-earnings ratio of 16.73 and a beta of 0.74. Arrow Financial Co. has a 52-week low of $16.65 and a 52-week high of $32.92. The business’s 50 day moving average is $27.40 and its two-hundred day moving average is $25.20.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter. The business had revenue of $55.83 million for the quarter. Arrow Financial had a return on equity of 8.52% and a net margin of 14.94%.

Arrow Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 12th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend is Monday, August 12th. Arrow Financial’s dividend payout ratio is currently 62.79%.

Institutional Investors Weigh In On Arrow Financial

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC acquired a new stake in shares of Arrow Financial during the 4th quarter valued at approximately $29,000. Acadian Asset Management LLC acquired a new stake in Arrow Financial in the first quarter worth $157,000. Northwest Financial Advisors acquired a new stake in Arrow Financial in the fourth quarter worth $179,000. BNP Paribas Financial Markets increased its position in Arrow Financial by 90.9% in the first quarter. BNP Paribas Financial Markets now owns 7,263 shares of the financial services provider’s stock worth $182,000 after buying an additional 3,459 shares during the period. Finally, Carl P. Sherr & Co. LLC acquired a new stake in Arrow Financial in the fourth quarter worth $210,000. 46.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Arrow Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th.

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.