Arrow Financial Co. (NASDAQ:AROW) Short Interest Down 6.2% in June

Arrow Financial Co. (NASDAQ:AROW) was the target of a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 126,300 shares, a drop of 6.2% from the May 31st total of 134,600 shares. Based on an average daily trading volume, of 37,200 shares, the days-to-cover ratio is presently 3.4 days.

Wall Street Analyst Weigh In

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

Insider Activity at Arrow Financial

In other Arrow Financial news, Director Raymond F. O’conor sold 4,000 shares of the business’s stock in a transaction on Friday, May 10th. The shares were 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 owns 46,419 shares of the company’s stock, valued at approximately $1,096,880.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.55% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arrow Financial

Several institutional investors and hedge funds have recently bought and sold shares of AROW. Arrow Financial Corp increased its stake in Arrow Financial by 5.8% in the first quarter. Arrow Financial Corp now owns 1,826,880 shares of the financial services provider’s stock valued at $45,709,000 after acquiring an additional 100,355 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Arrow Financial in the 1st quarter valued at approximately $157,000. Vanguard Group Inc. raised its holdings in shares of Arrow Financial by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 795,274 shares of the financial services provider’s stock worth $19,898,000 after buying an additional 10,636 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new position in shares of Arrow Financial during the 1st quarter worth approximately $201,000. Finally, ClariVest Asset Management LLC boosted its stake in Arrow Financial by 19.7% in the 1st quarter. ClariVest Asset Management LLC now owns 36,230 shares of the financial services provider’s stock valued at $906,000 after buying an additional 5,952 shares in the last quarter. Institutional investors own 46.71% of the company’s stock.

Arrow Financial Stock Performance

NASDAQ:AROW opened at $25.68 on Thursday. The firm’s 50-day moving average is $24.50 and its 200-day moving average is $24.87. The company has a market cap of $428.86 million, a price-to-earnings ratio of 14.93 and a beta of 0.74. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.90 and a current ratio of 0.90. Arrow Financial has a 52-week low of $16.65 and a 52-week high of $29.66.

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

Arrow Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 13th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.08 dividend on an annualized basis and a yield of 4.21%. Arrow Financial’s dividend payout ratio is currently 62.81%.

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.