Arrow Financial Corporation (AROW) to Distribute Quarterly Dividend of $0.30 on August 25th

Arrow Financial Corporation (NASDAQ:AROW) declared a quarterly dividend on Wednesday, July 22nd. Stockholders of record on Tuesday, August 11th will be paid a dividend of 0.30 per share by the financial services provider on Tuesday, August 25th. This represents a c) annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Tuesday, August 11th.

Arrow Financial has increased its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Arrow Financial has a dividend payout ratio of 41.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Arrow Financial to earn $4.25 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 28.2%.

Arrow Financial Trading Down 1.4%

NASDAQ AROW opened at $39.40 on Friday. The firm has a market capitalization of $651.28 million, a PE ratio of 12.71 and a beta of 0.76. The stock’s 50 day moving average is $39.78 and its 200 day moving average is $36.55. Arrow Financial has a twelve month low of $25.88 and a twelve month high of $42.70. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.06.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.14). The firm had revenue of $52.44 million during the quarter, compared to the consensus estimate of $45.51 million. Arrow Financial had a return on equity of 12.25% and a net margin of 20.56%. Research analysts forecast that Arrow Financial will post 3.55 earnings per share for the current fiscal year.

About Arrow Financial

Arrow Financial Corporation is a bank holding company headquartered in Glens Falls, New York, that conducts its primary operations through its subsidiary, Glens Falls National Bank & Trust Company. The company provides a comprehensive suite of retail and commercial banking services, including checking and savings accounts, consumer and commercial lending, mortgage financing, and cash management solutions. Through its branch network, Arrow Financial serves individuals, small- and medium-sized businesses, and nonprofit organizations across the Adirondack region, Upper Hudson Valley, Mohawk Valley and parts of Central New York.

In addition to traditional banking, Arrow Financial has developed a robust wealth management and trust services division.