Arrow Financial Co. (NASDAQ:AROW) Short Interest Update

Arrow Financial Co. (NASDAQ:AROW) was the recipient of a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 153,400 shares, a drop of 6.1% from the September 30th total of 163,300 shares. Based on an average trading volume of 35,700 shares, the short-interest ratio is presently 4.3 days.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AROW shares. StockNews.com raised Arrow Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th. Hovde Group began coverage on Arrow Financial in a research note on Monday, September 9th. They set a “market perform” rating and a $31.00 price target for the company.

Arrow Financial Trading Down 2.7 %

Shares of NASDAQ AROW opened at $28.54 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $28.91 and a two-hundred day simple moving average of $26.98. The firm has a market cap of $477.47 million, a PE ratio of 15.10 and a beta of 0.72. Arrow Financial has a twelve month low of $21.00 and a twelve month high of $32.92.

Arrow Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Tuesday, October 15th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 3.92%. This is a positive change from Arrow Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, October 15th. Arrow Financial’s payout ratio is presently 59.26%.

Insider Buying and Selling

In related news, Director Raymond F. O’conor sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $30.09, for a total transaction of $60,180.00. Following the completion of the sale, the director now directly owns 43,176 shares of the company’s stock, valued at approximately $1,299,165.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 6,000 shares of company stock valued at $172,520. Insiders own 3.55% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new position in shares of Arrow Financial in the 1st quarter worth $157,000. SG Americas Securities LLC purchased a new position in Arrow Financial during the 3rd quarter worth $164,000. BNP Paribas Financial Markets grew its stake in Arrow Financial by 90.9% during the 1st quarter. BNP Paribas Financial Markets now owns 7,263 shares of the financial services provider’s stock worth $182,000 after buying an additional 3,459 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new position in Arrow Financial during the 1st quarter worth $201,000. Finally, IFG Advisory LLC purchased a new position in Arrow Financial during the 2nd quarter worth $207,000. 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.