Short Interest in Arrow Financial Co. (NASDAQ:AROW) Declines By 6.9%

Arrow Financial Co. (NASDAQ:AROW) saw a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 186,500 shares, a decline of 6.9% from the July 15th total of 200,400 shares. Based on an average daily volume of 48,000 shares, the days-to-cover ratio is currently 3.9 days.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Arrow Financial

In other news, Director Raymond F. O’conor sold 2,000 shares of Arrow Financial stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $28.13, for a total transaction of $56,260.00. Following the sale, the director now owns 45,176 shares of the company’s stock, valued at approximately $1,270,800.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arrow Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC purchased a new stake in shares of Arrow Financial during the fourth quarter worth $29,000. Acadian Asset Management LLC purchased a new stake in Arrow Financial during the 1st quarter worth about $157,000. Northwest Financial Advisors acquired a new stake in Arrow Financial in the 4th quarter valued at about $179,000. BNP Paribas Financial Markets raised its position in Arrow Financial by 90.9% in the 1st quarter. BNP Paribas Financial Markets now owns 7,263 shares of the financial services provider’s stock valued at $182,000 after purchasing an additional 3,459 shares in the last quarter. Finally, IFG Advisory LLC purchased a new position in shares of Arrow Financial in the 2nd quarter valued at about $207,000. Hedge funds and other institutional investors own 46.71% of the company’s stock.

Arrow Financial Trading Down 2.5 %

AROW opened at $28.31 on Wednesday. Arrow Financial has a 52 week low of $16.65 and a 52 week high of $32.92. 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 business has a fifty day simple moving average of $27.57 and a 200-day simple moving average of $25.26. The firm has a market cap of $472.72 million, a P/E ratio of 16.46 and a beta of 0.74.

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

Arrow Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 12th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.81%. The ex-dividend date is Monday, August 12th. Arrow Financial’s payout ratio is currently 62.79%.

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.