Arrow Financial Co. (NASDAQ:AROW) Sees Significant Growth in Short Interest

Arrow Financial Co. (NASDAQ:AROW) saw a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 124,400 shares, an increase of 8.3% from the December 15th total of 114,900 shares. Based on an average daily trading volume, of 41,800 shares, the days-to-cover ratio is currently 3.0 days.

Insider Buying and Selling

In related news, Director Raymond F. O’conor sold 2,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $32.69, for a total value of $65,380.00. Following the sale, the director now directly owns 37,859 shares of the company’s stock, valued at $1,237,610.71. This represents a 5.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 6,000 shares of company stock worth $180,080 over the last three months. 3.55% of the stock is owned by insiders.

Hedge Funds Weigh In On Arrow Financial

A number of large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its position in shares of Arrow Financial by 13.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider’s stock worth $99,000 after acquiring an additional 398 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Arrow Financial by 0.4% during the third quarter. Rockefeller Capital Management L.P. now owns 116,867 shares of the financial services provider’s stock valued at $3,349,000 after buying an additional 454 shares during the last quarter. State Street Corp grew its position in shares of Arrow Financial by 0.3% in the 3rd quarter. State Street Corp now owns 393,719 shares of the financial services provider’s stock worth $11,284,000 after buying an additional 1,022 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Arrow Financial by 18.5% during the 4th quarter. SG Americas Securities LLC now owns 6,765 shares of the financial services provider’s stock worth $194,000 after acquiring an additional 1,056 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in shares of Arrow Financial by 0.9% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 118,630 shares of the financial services provider’s stock worth $3,400,000 after acquiring an additional 1,100 shares in the last quarter. Institutional investors own 46.71% of the company’s stock.

Wall Street Analysts Forecast Growth

AROW has been the subject of a number of recent analyst reports. Hovde Group dropped their price objective on Arrow Financial from $34.50 to $32.00 and set a “market perform” rating for the company in a report on Friday, December 27th. Piper Sandler assumed coverage on shares of Arrow Financial in a report on Friday, December 20th. They issued a “neutral” rating and a $32.00 price target on the stock.

Arrow Financial Trading Up 0.4 %

AROW opened at $27.39 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06. The stock’s fifty day moving average is $30.41 and its two-hundred day moving average is $29.48. The company has a market capitalization of $458.48 million, a P/E ratio of 13.97 and a beta of 0.77. Arrow Financial has a 52 week low of $21.50 and a 52 week high of $34.63.

Arrow Financial (NASDAQ:AROW) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $0.53 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.53. Arrow Financial had a net margin of 15.00% and a return on equity of 8.59%. The company had revenue of $57.58 million during the quarter. Analysts forecast that Arrow Financial will post 2.11 earnings per share for the current year.

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.