Arrow Financial (NASDAQ:AROW) Issues Quarterly Earnings Results

Posted by Liza Goodheart on May 2nd, 2024

Arrow Financial (NASDAQ:AROW – Get Free Report) released its quarterly earnings results on Tuesday. The financial services provider reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02), Yahoo Finance reports. The firm had revenue of $54.54 million during the quarter, compared to the consensus estimate of $33.29 million. Arrow Financial had a net margin of 14.34% and a return on equity of 7.95%.

Arrow Financial Trading Up 4.5 %

Shares of Arrow Financial stock opened at $23.28 on Thursday. The company has a market cap of $388.54 million, a price-to-earnings ratio of 13.54 and a beta of 0.72. Arrow Financial has a 1 year low of $16.65 and a 1 year high of $29.66. The company’s fifty day simple moving average is $23.67 and its 200-day simple moving average is $24.52. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.07.

Arrow Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 13th will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.08 annualized dividend and a dividend yield of 4.64%. Arrow Financial’s dividend payout ratio is 62.81%.

Analyst Ratings Changes

Several brokerages recently commented on AROW. Hovde Group assumed coverage on shares of Arrow Financial in a report on Tuesday, January 9th. They issued a “market perform” rating on the stock. StockNews.com lowered Arrow Financial from a “hold” rating to a “sell” rating in a research note on Wednesday.

Get Our Latest Stock Report on Arrow Financial

Arrow Financial Company Profile

(Get Free Report)

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.