Piper Sandler Issues Pessimistic Forecast for Arrow Financial (NASDAQ:AROW) Stock Price

Arrow Financial (NASDAQ:AROW) had its price objective decreased by stock analysts at Piper Sandler from $32.00 to $30.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price would indicate a potential upside of 9.77% from the company’s current price.

Separately, Hovde Group lowered their target price on shares of Arrow Financial from $34.50 to $32.00 and set a “market perform” rating on the stock in a report on Friday, December 27th.

Arrow Financial Trading Up 1.5 %

NASDAQ:AROW opened at $27.33 on Tuesday. The firm’s 50 day moving average is $28.96 and its 200 day moving average is $29.44. Arrow Financial has a 12 month low of $21.50 and a 12 month high of $34.63. The stock has a market capitalization of $457.50 million, a PE ratio of 15.44 and a beta of 0.76. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.12). Arrow Financial had a net margin of 13.32% and a return on equity of 8.59%. Sell-side analysts expect that Arrow Financial will post 2.7 earnings per share for the current year.

Insiders Place Their Bets

In other Arrow Financial news, Director Raymond F. O’conor sold 2,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $25.28, for a total value of $50,560.00. Following the completion of the sale, the director now directly owns 35,022 shares of the company’s stock, valued at $885,356.16. The trade was a 5.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel James White bought 3,668 shares of the stock in a transaction dated Friday, January 31st. The stock was bought at an average cost of $27.23 per share, with a total value of $99,879.64. Following the purchase, the director now owns 4,338 shares in the company, valued at $118,123.74. The trade was a 547.46 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 6,000 shares of company stock valued at $173,640 in the last quarter. Corporate insiders own 3.55% of the company’s stock.

Institutional Trading of Arrow Financial

Several large investors have recently modified their holdings of AROW. BNP Paribas Financial Markets raised its holdings in 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 purchasing an additional 398 shares in the last quarter. Rockefeller Capital Management L.P. boosted 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 purchasing an additional 454 shares in the last quarter. State Street Corp raised its holdings in Arrow Financial by 0.3% in the third quarter. State Street Corp now owns 393,719 shares of the financial services provider’s stock worth $11,284,000 after purchasing an additional 1,022 shares in the last quarter. SG Americas Securities LLC lifted its position in Arrow Financial by 18.5% during the fourth quarter. SG Americas Securities LLC now owns 6,765 shares of the financial services provider’s stock valued at $194,000 after buying an additional 1,056 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings 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 valued at $3,400,000 after buying an additional 1,100 shares in the last quarter. 46.71% of the stock is owned by institutional investors.

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.