Short Interest in Arrow Financial Co. (NASDAQ:AROW) Decreases By 20.2%

Arrow Financial Co. (NASDAQ:AROW) was the target of a significant decline in short interest during the month of February. As of February 15th, there was short interest totalling 82,400 shares, a decline of 20.2% from the January 31st total of 103,200 shares. Based on an average daily trading volume, of 40,800 shares, the short-interest ratio is presently 2.0 days.

Wall Street Analysts Forecast Growth

AROW has been the subject of a number of research analyst reports. Hovde Group decreased their target price on 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. Piper Sandler reduced their price target on shares of Arrow Financial from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th.

Insider Buying and Selling

In other Arrow Financial news, Director Raymond F. O’conor sold 2,000 shares of the firm’s stock in a transaction dated 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 approximately $1,034,532.15. This trade represents a 5.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel James White purchased 3,668 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average price of $27.23 per share, for a total transaction of $99,879.64. Following the completion of the transaction, the director now directly owns 4,338 shares in the company, 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. Insiders sold a total of 6,000 shares of company stock valued at $162,060 over the last ninety days. Insiders own 3.55% of the company’s stock.

Institutional Trading of Arrow Financial

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Parr Mcknight Wealth Management Group LLC bought a new position in shares of Arrow Financial during the fourth quarter worth approximately $316,000. Squarepoint Ops LLC acquired a new stake in Arrow Financial in the fourth quarter valued at $800,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Arrow Financial by 4.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,406 shares of the financial services provider’s stock worth $270,000 after acquiring an additional 436 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Arrow Financial by 33.4% in the 4th quarter. Bank of America Corp DE now owns 24,977 shares of the financial services provider’s stock valued at $717,000 after purchasing an additional 6,253 shares during the last quarter. Finally, Gallagher Fiduciary Advisors LLC boosted its position in Arrow Financial by 17.9% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 19,905 shares of the financial services provider’s stock valued at $571,000 after acquiring an additional 3,028 shares during the last quarter. Institutional investors own 46.71% of the company’s stock.

Arrow Financial Stock Down 0.1 %

NASDAQ AROW traded down $0.03 during trading on Tuesday, hitting $26.87. The stock had a trading volume of 13,983 shares, compared to its average volume of 38,977. 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 company’s 50-day moving average price is $27.23 and its two-hundred day moving average price is $29.10. The company has a market capitalization of $449.78 million, a PE ratio of 15.18 and a beta of 0.76.

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 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, sell-side analysts forecast that Arrow Financial will post 2.65 EPS for the current year.

Arrow Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Monday, February 10th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date was Monday, February 10th. This is an increase from Arrow Financial’s previous quarterly dividend of $0.25. Arrow Financial’s payout ratio is 63.28%.

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.