Arrow Financial Co. (NASDAQ:AROW) Short Interest Down 8.0% in September

Arrow Financial Co. (NASDAQ:AROW) was the recipient of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 190,600 shares, a decline of 8.0% from the August 31st total of 207,100 shares. Based on an average daily trading volume, of 46,600 shares, the short-interest ratio is presently 4.1 days.

Arrow Financial Stock Performance

Arrow Financial stock opened at $28.66 on Tuesday. The firm has a market capitalization of $478.56 million, a P/E ratio of 16.66 and a beta of 0.73. Arrow Financial has a 52-week low of $16.70 and a 52-week high of $32.92. The stock has a fifty day moving average price of $29.21 and a two-hundred day moving average price of $26.25. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.92 and a quick ratio of 0.92.

Arrow Financial (NASDAQ:AROW) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.52 EPS for the quarter. Arrow Financial had a net margin of 14.94% and a return on equity of 8.46%. The business had revenue of $55.83 million for the quarter.

Arrow Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 12th were given a dividend of $0.27 per share. The ex-dividend date was Monday, August 12th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.77%. Arrow Financial’s payout ratio is currently 62.79%.

Insider Buying and Selling at Arrow Financial

In other news, Director Raymond F. O’conor sold 2,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $30.09, for a total value of $60,180.00. Following the transaction, the director now directly owns 43,176 shares of the company’s stock, valued at $1,299,165.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.55% of the company’s stock.

Hedge Funds Weigh In On Arrow Financial

Several large investors have recently made changes to their positions in the company. Acadian Asset Management LLC bought a new position in shares of Arrow Financial in the 1st quarter worth $157,000. BNP Paribas Financial Markets increased its stake in shares of Arrow Financial by 90.9% in the 1st quarter. BNP Paribas Financial Markets now owns 7,263 shares of the financial services provider’s stock valued at $182,000 after acquiring an additional 3,459 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new position in Arrow Financial during the 1st quarter worth approximately $201,000. IFG Advisory LLC bought a new position in Arrow Financial during the 2nd quarter worth about $207,000. Finally, Financial Counselors Inc. lifted its holdings in shares of Arrow Financial by 11.4% in the first quarter. Financial Counselors Inc. now owns 19,612 shares of the financial services provider’s stock valued at $491,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 46.71% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on AROW. StockNews.com raised Arrow Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th. Hovde Group assumed coverage on Arrow Financial in a report on Monday, September 9th. They set a “market perform” rating and a $31.00 price target for the company.

Arrow Financial Company Profile

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.