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

Arrow Financial Co. (NASDAQ:AROW) saw a large increase in short interest in 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 volume of 41,800 shares, the days-to-cover ratio is currently 3.0 days.

Arrow Financial Trading Up 0.4 %

NASDAQ AROW opened at $27.39 on Monday. The firm’s fifty day moving average is $30.41 and its two-hundred day moving average is $29.48. Arrow Financial has a one year low of $21.50 and a one year high of $34.63. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $458.51 million, a PE ratio of 13.97 and a beta of 0.77.

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, meeting the consensus estimate of $0.53. Arrow Financial had a return on equity of 8.59% and a net margin of 15.00%. The firm had revenue of $57.58 million during the quarter. Analysts expect that Arrow Financial will post 2.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AROW shares. Piper Sandler started coverage on shares of Arrow Financial in a report on Friday, December 20th. They issued a “neutral” rating and a $32.00 target price for the company. Hovde Group decreased their price objective on shares of Arrow Financial from $34.50 to $32.00 and set a “market perform” rating for the company in a research note on Friday, December 27th.

Insiders Place Their Bets

In other news, Director Raymond F. O’conor sold 2,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $32.69, for a total transaction of $65,380.00. Following the completion of the transaction, the director now directly owns 37,859 shares of the company’s stock, valued at approximately $1,237,610.71. This represents a 5.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 6,000 shares of company stock worth $180,080 in the last quarter. 3.55% of the stock is owned by company insiders.

Hedge Funds Weigh In On Arrow Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. American Century Companies Inc. raised its position in 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 worth $6,946,000 after buying an additional 32,158 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings 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 in the last quarter. Dimensional Fund Advisors LP lifted its position 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 valued at $18,241,000 after purchasing an additional 31,268 shares during the period. Arrow Financial Corp boosted its holdings in Arrow Financial by 1.2% in the 3rd 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 in the last quarter. Finally, Trust Co. of Vermont increased its position in Arrow Financial by 49.5% during the 4th quarter. Trust Co. of Vermont now owns 57,365 shares of the financial services provider’s stock worth $1,647,000 after purchasing an additional 19,000 shares during the period. 46.71% of the stock is currently owned by hedge funds and other institutional investors.

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.