Short Interest in Arrow Financial Co. (NASDAQ:AROW) Decreases By 6.2%

Arrow Financial Co. (NASDAQ:AROW) was the target of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 125,300 shares, a decrease 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 presently 3.2 days.

Insider Transactions at Arrow Financial

In other news, Director Raymond F. O’conor sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $32.69, for a total value of $65,380.00. Following the transaction, the director now directly owns 37,859 shares in the company, valued at approximately $1,237,610.71. This represents a 5.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 6,000 shares of company stock worth $178,460. 3.55% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arrow Financial

Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake in shares of Arrow Financial by 12.0% during the second quarter. Bank of New York Mellon Corp now owns 129,326 shares of the financial services provider’s stock worth $3,369,000 after buying an additional 13,829 shares during the period. Arrow Financial Corp increased its position in shares of Arrow Financial by 6.6% in the 2nd quarter. Arrow Financial Corp now owns 1,946,595 shares of the financial services provider’s stock valued at $50,709,000 after purchasing an additional 119,715 shares during the last quarter. IFG Advisory LLC acquired a new stake in shares of Arrow Financial in the 2nd quarter valued at $207,000. Rhumbline Advisers lifted its position in shares of Arrow Financial by 6.4% during the 2nd quarter. Rhumbline Advisers now owns 24,650 shares of the financial services provider’s stock worth $642,000 after purchasing an additional 1,485 shares during the last quarter. Finally, Private Advisor Group LLC grew its stake in shares of Arrow Financial by 74.1% during the second quarter. Private Advisor Group LLC now owns 19,934 shares of the financial services provider’s stock worth $519,000 after purchasing an additional 8,483 shares in the last quarter. Institutional investors and hedge funds own 46.71% of the company’s stock.

Arrow Financial Stock Down 3.1 %

Shares of AROW opened at $30.81 on Wednesday. The company’s 50-day simple moving average is $31.13 and its 200-day simple moving average is $29.02. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.93 and a current ratio of 0.93. Arrow Financial has a 1 year low of $21.50 and a 1 year high of $34.63. The stock has a market capitalization of $515.73 million, a PE ratio of 15.72 and a beta of 0.75.

Arrow Financial (NASDAQ:AROW) last released its earnings results on Thursday, October 31st. The financial services provider reported $0.53 earnings per share (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 net margin of 15.00% and a return on equity of 8.59%.

Arrow Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 29th. Investors of record on Tuesday, October 15th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 3.64%. This is a boost from Arrow Financial’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, October 15th. Arrow Financial’s payout ratio is presently 57.14%.

Analyst Upgrades and Downgrades

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