StockNews.com lowered shares of Arrow Financial (NASDAQ:AROW – Free Report) from a hold rating to a sell rating in a research report report published on Wednesday.
Separately, Hovde Group started coverage on shares of Arrow Financial in a research report on Tuesday, January 9th. They set a market perform rating for the company.
View Our Latest Report on Arrow Financial
Arrow Financial Trading Up 1.0 %
Arrow Financial (NASDAQ:AROW – Get Free Report) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.02). The business had revenue of $54.54 million for the quarter, compared to the consensus estimate of $33.29 million. Arrow Financial had a return on equity of 7.95% and a net margin of 14.34%. As a group, equities research analysts expect that Arrow Financial will post 2.29 EPS for the current fiscal year.
Arrow Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 13th will be paid a $0.27 dividend. The ex-dividend date is Friday, May 10th. This represents a $1.08 annualized dividend and a yield of 4.56%. Arrow Financial’s dividend payout ratio (DPR) is 62.81%.
Institutional Investors Weigh In On Arrow Financial
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Financial Counselors Inc. increased its stake in Arrow Financial by 3.0% in the 3rd quarter. Financial Counselors Inc. now owns 17,612 shares of the financial services provider’s stock valued at $300,000 after buying an additional 510 shares during the last quarter. M&T Bank Corp increased its stake in Arrow Financial by 2.4% in the 3rd quarter. M&T Bank Corp now owns 26,412 shares of the financial services provider’s stock valued at $450,000 after buying an additional 630 shares during the last quarter. Adirondack Trust Co. increased its stake in Arrow Financial by 3.0% in the 4th quarter. Adirondack Trust Co. now owns 21,984 shares of the financial services provider’s stock valued at $614,000 after buying an additional 635 shares during the last quarter. Waldron Private Wealth LLC increased its stake in Arrow Financial by 3.0% in the 3rd quarter. Waldron Private Wealth LLC now owns 23,955 shares of the financial services provider’s stock valued at $407,000 after buying an additional 697 shares during the last quarter. Finally, HighTower Advisors LLC increased its stake in Arrow Financial by 5.1% in the 3rd quarter. HighTower Advisors LLC now owns 15,982 shares of the financial services provider’s stock valued at $273,000 after buying an additional 770 shares during the last quarter. Hedge funds and other institutional investors own 46.71% of the company’s stock.
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.
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