Arrow Financial (NASDAQ:AROW) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Shares of Arrow Financial Co. (NASDAQ:AROW) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $29.20 and traded as low as $26.81. Arrow Financial shares last traded at $26.97, with a volume of 18,385 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently commented on AROW shares. Hovde Group decreased their price target on Arrow Financial from $34.50 to $32.00 and set a “market perform” rating on the stock in a research note on Friday, December 27th. Piper Sandler decreased their price target on Arrow Financial from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th.

Arrow Financial Trading Down 0.6 %

The company has a 50 day moving average of $28.06 and a 200 day moving average of $29.20. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06. The firm has a market cap of $451.48 million, a price-to-earnings ratio of 15.24 and a beta of 0.76.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings data 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 return on equity of 8.59% and a net margin of 13.32%. As a group, research analysts anticipate that Arrow Financial Co. will post 2.65 EPS for the current year.

Arrow Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, February 10th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.12 dividend on an annualized basis and a yield of 4.15%. This is a positive change from Arrow Financial’s previous quarterly dividend of $0.25. Arrow Financial’s payout ratio is currently 63.28%.

Insiders Place Their Bets

In other news, Director Raymond F. O’conor sold 2,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $28.85, for a total transaction of $57,700.00. Following the transaction, the director now owns 35,859 shares of the company’s stock, valued at $1,034,532.15. This represents a 5.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel James White purchased 3,668 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were purchased at an average cost of $27.23 per share, for a total transaction of $99,879.64. Following the purchase, the director now directly owns 4,338 shares of the company’s stock, valued at $118,123.74. This trade represents a 547.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 6,000 shares of company stock valued at $173,640. 3.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arrow Financial

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in Arrow Financial in the third quarter valued at about $164,000. Private Advisor Group LLC increased its holdings in Arrow Financial by 26.7% in the third quarter. Private Advisor Group LLC now owns 25,257 shares of the financial services provider’s stock valued at $724,000 after purchasing an additional 5,323 shares during the last quarter. Atria Investments Inc increased its holdings in Arrow Financial by 32.6% in the third quarter. Atria Investments Inc now owns 16,856 shares of the financial services provider’s stock valued at $483,000 after purchasing an additional 4,148 shares during the last quarter. Arrow Financial Corp increased its holdings in Arrow Financial by 1.2% in the third quarter. Arrow Financial Corp now owns 1,969,793 shares of the financial services provider’s stock valued at $56,454,000 after purchasing an additional 23,198 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Arrow Financial by 136.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,050 shares of the financial services provider’s stock valued at $1,578,000 after purchasing an additional 31,741 shares during the last quarter. Institutional investors and hedge funds own 46.71% of the company’s stock.

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.