Arrow Financial Corporation (NASDAQ:AROW) SVP David S. Demarco sold 4,141 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $35.30, for a total value of $146,177.30. Following the completion of the transaction, the senior vice president now owns 22,448 shares of the company’s stock, valued at $792,414.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Arrow Financial Corporation (NASDAQ:AROW) opened at $35.35 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $491.05, a price-to-earnings ratio of 17.71 and a beta of 0.64. Arrow Financial Corporation has a 12 month low of $29.81 and a 12 month high of $40.49.
Arrow Financial Corporation (NASDAQ:AROW) last issued its earnings results on Monday, October 23rd. The financial services provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). The firm had revenue of $26.79 million during the quarter. Arrow Financial Corporation had a net margin of 25.36% and a return on equity of 11.77%.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.83%. This is a positive change from Arrow Financial Corporation’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, November 30th. Arrow Financial Corporation’s dividend payout ratio is presently 48.60%.
Arrow Financial Corporation declared that its Board of Directors has approved a share repurchase plan on Friday, October 27th that permits the company to repurchase $5.00 million in shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
Several hedge funds and other institutional investors have recently modified their holdings of AROW. Schroder Investment Management Group raised its stake in shares of Arrow Financial Corporation by 49.5% in the second quarter. Schroder Investment Management Group now owns 3,608 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 1,194 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in Arrow Financial Corporation in the second quarter valued at $216,000. Maple Capital Management Inc. bought a new stake in Arrow Financial Corporation in the third quarter valued at $216,000. Bradley Foster & Sargent Inc. CT bought a new stake in Arrow Financial Corporation in the second quarter valued at $269,000. Finally, Alliancebernstein L.P. grew its position in Arrow Financial Corporation by 29.2% in the second quarter. Alliancebernstein L.P. now owns 10,627 shares of the financial services provider’s stock valued at $336,000 after acquiring an additional 2,400 shares during the period. Institutional investors and hedge funds own 39.18% of the company’s stock.
Separately, BidaskClub upgraded Arrow Financial Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th.
Arrow Financial Corporation Company Profile
Arrow Financial Corporation (Arrow) is a bank holding company. The Company’s banking subsidiaries are Glens Falls National Bank and Trust Company (Glens Falls National) and Saratoga National Bank and Trust Company (Saratoga National). It operates in community banking industry segment. The Company’s business consists primarily of the ownership, supervision and control of its two banks.
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