Arrow Financial (NASDAQ:AROW) Stock Crosses Below Two Hundred Day Moving Average of $24.95

Arrow Financial Co. (NASDAQ:AROW)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $24.95 and traded as low as $24.65. Arrow Financial shares last traded at $24.67, with a volume of 27,318 shares.

Analysts Set New Price Targets

Separately, StockNews.com raised Arrow Financial from a “sell” rating to a “hold” rating in a research note on Thursday, May 9th.

Arrow Financial Price Performance

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 has a market capitalization of $411.94 million, a price-to-earnings ratio of 14.34 and a beta of 0.75. The business’s fifty day moving average price is $24.13 and its 200-day moving average price is $24.95.

Arrow Financial (NASDAQ:AROW) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). Arrow Financial had a net margin of 14.34% and a return on equity of 7.89%. The company had revenue of $54.54 million during the quarter, compared to the consensus estimate of $33.29 million. On average, research analysts forecast that Arrow Financial Co. will post 2.29 EPS for the current year.

Arrow Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 13th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date of this dividend was Friday, May 10th. Arrow Financial’s payout ratio is currently 62.79%.

Insiders Place Their Bets

In other news, Director Raymond F. O’conor sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $23.63, for a total value 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arrow Financial

A number of hedge funds have recently modified their holdings of the stock. Adirondack Trust Co. lifted its holdings in Arrow Financial by 3.0% during the fourth quarter. Adirondack Trust Co. now owns 21,984 shares of the financial services provider’s stock valued at $614,000 after purchasing an additional 635 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Arrow Financial by 5.1% during the 3rd quarter. HighTower Advisors LLC now owns 15,982 shares of the financial services provider’s stock valued at $273,000 after buying an additional 770 shares in the last quarter. GAMMA Investing LLC bought a new position in Arrow Financial in the 4th quarter worth approximately $29,000. Swiss National Bank grew its stake in Arrow Financial by 3.0% in the 3rd quarter. Swiss National Bank now owns 36,724 shares of the financial services provider’s stock valued at $625,000 after buying an additional 1,069 shares in the last quarter. Finally, Trust Co. of Vermont raised its holdings in Arrow Financial by 3.0% during the 3rd quarter. Trust Co. of Vermont now owns 39,105 shares of the financial services provider’s stock valued at $666,000 after acquiring an additional 1,137 shares during the period. Institutional investors own 46.71% of the company’s stock.

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.