Arrow Financial (NASDAQ:AROW) Coverage Initiated at Piper Sandler

Piper Sandler began coverage on shares of Arrow Financial (NASDAQ:AROW) in a report issued on Friday. The brokerage set a “neutral” rating and a $32.00 price target on the financial services provider’s stock. Piper Sandler’s target price points to a potential upside of 11.69% from the stock’s current price.

Separately, Hovde Group initiated coverage on Arrow Financial in a report on Monday, September 9th. They set a “market perform” rating and a $31.00 price objective on the stock.

Arrow Financial Stock Down 1.4 %

Shares of NASDAQ:AROW opened at $28.65 on Friday. The company has a 50 day moving average price of $31.17 and a two-hundred day moving average price of $29.02. The company has a market capitalization of $479.57 million, a PE ratio of 14.62 and a beta of 0.75. Arrow Financial has a 52 week low of $21.50 and a 52 week 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.

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

Insider Buying and Selling

In related news, Director Raymond F. O’conor sold 2,000 shares of Arrow Financial stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $28.04, for a total value of $56,080.00. Following the sale, the director now owns 41,176 shares of the company’s stock, valued at approximately $1,154,575.04. This trade represents a 4.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 6,000 shares of company stock valued at $178,460. Company insiders own 3.55% of the company’s stock.

Hedge Funds Weigh In On Arrow Financial

Several hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its position in shares of Arrow Financial by 13.0% in the third quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 398 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in Arrow Financial by 0.4% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 116,867 shares of the financial services provider’s stock valued at $3,349,000 after buying an additional 454 shares during the last quarter. ClariVest Asset Management LLC lifted its position in Arrow Financial by 2.8% during the 2nd quarter. ClariVest Asset Management LLC now owns 37,247 shares of the financial services provider’s stock worth $970,000 after buying an additional 1,017 shares in the last quarter. State Street Corp boosted its stake in shares of Arrow Financial by 0.3% during the 3rd quarter. State Street Corp now owns 393,719 shares of the financial services provider’s stock worth $11,284,000 after buying an additional 1,022 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Arrow Financial by 0.9% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 118,630 shares of the financial services provider’s stock valued at $3,400,000 after acquiring 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.