Insider Selling: Arrow Financial Co. (NASDAQ:AROW) Director Sells $57,000.00 in Stock

Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 2,000 shares of Arrow Financial stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $28.50, for a total transaction of $57,000.00. Following the completion of the transaction, the director now directly owns 39,496 shares in the company, valued at approximately $1,125,636. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Arrow Financial Stock Up 13.7 %

AROW opened at $33.43 on Thursday. Arrow Financial Co. has a fifty-two week low of $21.50 and a fifty-two week high of $33.49. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.92 and a quick ratio of 0.92. The firm’s fifty day moving average price is $28.92 and its two-hundred day moving average price is $27.24. The company has a market capitalization of $559.38 million, a P/E ratio of 17.06 and a beta of 0.72.

Arrow Financial (NASDAQ:AROW) last issued its earnings results on Thursday, October 31st. The financial services provider reported $0.53 EPS for the quarter, meeting the consensus estimate of $0.53. Arrow Financial had a net margin of 15.00% and a return on equity of 8.67%. The company had revenue of $57.58 million for the quarter.

Arrow Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 29th. Investors of record on Tuesday, October 15th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.35%. This is a boost from Arrow Financial’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, October 15th. Arrow Financial’s payout ratio is currently 57.14%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Arrow Financial Corp raised its holdings in Arrow Financial by 1.2% during the 3rd quarter. Arrow Financial Corp now owns 1,969,793 shares of the financial services provider’s stock worth $56,454,000 after purchasing an additional 23,198 shares during the last quarter. Atria Investments Inc grew its position in shares of Arrow Financial by 32.6% during the 3rd quarter. Atria Investments Inc now owns 16,856 shares of the financial services provider’s stock worth $483,000 after buying an additional 4,148 shares during the period. Private Advisor Group LLC grew its position in shares of Arrow Financial by 26.7% during the 3rd quarter. Private Advisor Group LLC now owns 25,257 shares of the financial services provider’s stock worth $724,000 after buying an additional 5,323 shares during the period. SG Americas Securities LLC acquired a new position in shares of Arrow Financial in the 3rd quarter valued at approximately $164,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Arrow Financial by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 700,253 shares of the financial services provider’s stock valued at $18,241,000 after purchasing an additional 31,268 shares during the period. 46.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AROW. Hovde Group initiated coverage on shares of Arrow Financial in a research note on Monday, September 9th. They issued a “market perform” rating and a $31.00 price objective on the stock. StockNews.com upgraded shares of Arrow Financial from a “sell” rating to a “hold” rating in a research note 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.