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

Arrow Financial Co. (NASDAQ:AROW) was the target of a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 105,500 shares, a decline of 15.2% from the December 31st total of 124,400 shares. Based on an average trading volume of 43,500 shares, the days-to-cover ratio is currently 2.4 days.

Insider Activity at Arrow Financial

In other Arrow Financial news, Director Raymond F. O’conor sold 2,000 shares of the firm’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 in the company, valued at $1,034,532.15. This trade represents a 5.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AROW. Arrow Financial Corp lifted its position 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 worth $56,454,000 after buying an additional 23,198 shares during the last quarter. Dimensional Fund Advisors LP raised its stake 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 buying an additional 31,268 shares during the last quarter. State Street Corp grew its holdings in shares of Arrow Financial by 0.3% during the third quarter. State Street Corp now owns 393,719 shares of the financial services provider’s stock valued at $11,284,000 after buying an additional 1,022 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Arrow Financial by 0.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 118,630 shares of the financial services provider’s stock worth $3,400,000 after purchasing an additional 1,100 shares during the period. Finally, Rockefeller Capital Management L.P. raised its holdings 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 worth $3,349,000 after purchasing an additional 454 shares during the last quarter. 46.71% of the stock is currently owned by institutional investors.

Arrow Financial Trading Down 3.2 %

AROW stock traded down $0.84 on Monday, reaching $25.77. The company’s stock had a trading volume of 27,994 shares, compared to its average volume of 39,771. The business has a fifty day simple moving average of $29.23 and a two-hundred day simple moving average of $29.49. Arrow Financial has a 12-month low of $21.50 and a 12-month 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 $431.39 million, a PE ratio of 14.58 and a beta of 0.76.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.47 earnings per share for the quarter, missing the consensus estimate 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 forecast that Arrow Financial will post 2.7 EPS for the current year.

Arrow Financial Increases Dividend

The company also recently announced a dividend, which will be paid on Monday, February 24th. Investors of record on Tuesday, February 11th will be paid a dividend of $0.28 per share. This is a boost from Arrow Financial’s previous dividend of $0.25. The ex-dividend date of this dividend is Monday, February 10th. This represents a dividend yield of 4.21%. Arrow Financial’s payout ratio is 63.28%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AROW. Hovde Group cut 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 started coverage on Arrow Financial in a report on Friday, December 20th. They set a “neutral” rating and a $32.00 price objective for the company.

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.