Arrow Financial Co. (NASDAQ:AROW) Short Interest Update

Arrow Financial Co. (NASDAQ:AROW) saw a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 125,300 shares, a decline of 6.2% from the November 15th total of 133,600 shares. Based on an average daily volume of 39,300 shares, the days-to-cover ratio is currently 3.2 days.

Insider Activity at Arrow Financial

In other Arrow Financial news, Director Raymond F. O’conor sold 2,000 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $28.50, for a total value of $57,000.00. Following the completion of the transaction, the director now directly owns 39,496 shares in the company, valued at approximately $1,125,636. This trade represents a 4.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 6,000 shares of company stock valued at $178,460. 3.55% of the stock is owned by insiders.

Hedge Funds Weigh In On Arrow Financial

A number of hedge funds have recently bought and sold shares of AROW. Arrow Financial Corp grew its holdings in Arrow Financial by 6.6% during the 2nd quarter. Arrow Financial Corp now owns 1,946,595 shares of the financial services provider’s stock worth $50,709,000 after acquiring an additional 119,715 shares during the period. American Century Companies Inc. boosted its position in shares of Arrow Financial by 13.7% during the 2nd 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Arrow Financial by 136.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,050 shares of the financial services provider’s stock worth $1,578,000 after purchasing an additional 31,741 shares during the period. Dimensional Fund Advisors LP increased its holdings in 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 worth $18,241,000 after purchasing an additional 31,268 shares in the last quarter. Finally, Barclays PLC lifted its stake in Arrow Financial by 251.9% in the third quarter. Barclays PLC now owns 21,411 shares of the financial services provider’s stock valued at $614,000 after buying an additional 15,327 shares during the period. Institutional investors own 46.71% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Hovde Group initiated coverage on shares of Arrow Financial in a research report on Monday, September 9th. They set a “market perform” rating and a $31.00 target price on the stock.

Arrow Financial Trading Down 0.5 %

AROW traded down $0.15 during midday trading on Tuesday, hitting $31.63. 1,969 shares of the company were exchanged, compared to its average volume of 41,655. The firm’s 50 day moving average price is $31.07 and its 200-day moving average price is $28.98. Arrow Financial has a 1-year low of $21.50 and a 1-year high of $34.63. The firm has a market capitalization of $529.45 million, a P/E ratio of 16.21 and a beta of 0.75. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings data on Thursday, October 31st. The financial services provider reported $0.53 EPS for the quarter, hitting analysts’ consensus estimates of $0.53. The company had revenue of $57.58 million for the quarter. Arrow Financial had a return on equity of 8.59% and a net margin of 15.00%.

Arrow Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Tuesday, October 15th were paid a $0.28 dividend. This is a positive change from Arrow Financial’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date was Tuesday, October 15th. Arrow Financial’s dividend payout ratio is currently 57.14%.

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.