Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor Sells 2,000 Shares

Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 2,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $28.04, for a total transaction of $56,080.00. Following the completion of the transaction, the director now directly owns 41,176 shares of the company’s stock, valued at approximately $1,154,575.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Arrow Financial Price Performance

Arrow Financial stock traded up $0.35 during trading on Wednesday, reaching $28.20. The company had a trading volume of 4,007 shares, compared to its average volume of 42,227. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $470.88 million, a PE ratio of 16.19 and a beta of 0.73. Arrow Financial Co. has a 1-year low of $16.70 and a 1-year high of $32.92. The firm’s 50-day simple moving average is $29.15 and its 200 day simple moving average is $26.28.

Arrow Financial (NASDAQ:AROW) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.52 EPS for the quarter. Arrow Financial had a net margin of 14.94% and a return on equity of 8.46%. The company had revenue of $55.83 million for the quarter.

Arrow Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 12th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.83%. The ex-dividend date was Monday, August 12th. Arrow Financial’s payout ratio is 62.79%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AROW. Arrow Financial Corp lifted its stake in Arrow Financial by 6.6% in the 2nd quarter. Arrow Financial Corp now owns 1,946,595 shares of the financial services provider’s stock valued at $50,709,000 after buying an additional 119,715 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Arrow Financial by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 795,274 shares of the financial services provider’s stock worth $19,898,000 after purchasing an additional 10,636 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Arrow Financial by 4.7% in the second 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. American Century Companies Inc. grew its position in shares of Arrow Financial by 13.7% in the second quarter. American Century Companies Inc. now owns 266,651 shares of the financial services provider’s stock valued at $6,946,000 after purchasing an additional 32,158 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Arrow Financial by 12.0% in the second quarter. Bank of New York Mellon Corp now owns 129,326 shares of the financial services provider’s stock valued at $3,369,000 after purchasing an additional 13,829 shares during the last quarter. 46.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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