Raymond F. O’conor Sells 2,000 Shares of Arrow Financial Co. (NASDAQ:AROW) Stock

Arrow Financial Co. (NASDAQ:AROW) 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 value 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Arrow Financial Stock Performance

Shares of AROW opened at $27.70 on Friday. The firm has a fifty day moving average of $31.09 and a 200-day moving average of $29.31. The company has a market cap of $463.67 million, a price-to-earnings ratio of 14.13 and a beta of 0.77. 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 Co. has a 1 year low of $21.50 and a 1 year high of $34.63.

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

Analyst Ratings Changes

AROW has been the topic of a number of recent research reports. Piper Sandler started coverage on shares of Arrow Financial in a research report on Friday, December 20th. They issued a “neutral” rating and a $32.00 price target on the stock. 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.

Hedge Funds Weigh In On Arrow Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its position in Arrow Financial by 13.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider’s stock worth $99,000 after acquiring an additional 398 shares during the period. Rockefeller Capital Management L.P. raised its stake 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 valued at $3,349,000 after purchasing an additional 454 shares in the last quarter. ClariVest Asset Management LLC lifted its holdings in Arrow Financial by 2.8% in the second quarter. ClariVest Asset Management LLC now owns 37,247 shares of the financial services provider’s stock worth $970,000 after purchasing an additional 1,017 shares during the period. State Street Corp increased its stake in Arrow Financial by 0.3% during the 3rd 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 period. Finally, Hotchkis & Wiley Capital Management LLC raised its position in shares of Arrow Financial by 0.9% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 118,630 shares of the financial services provider’s stock worth $3,400,000 after buying an additional 1,100 shares in the last quarter. 46.71% of the stock is owned by institutional investors.

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.