Arrow Financial Co. (NASDAQ:AROW) Director Sells $113,330.00 in Stock

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Arrow Financial Co. (NASDAQ:AROW) Director Gary C. Dake sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $32.38, for a total value of $113,330.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of AROW opened at $32.00 on Thursday. The company’s fifty day simple moving average is $33.49. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.49. Arrow Financial Co. has a 12 month low of $30.45 and a 12 month high of $40.15. The stock has a market cap of $473.18 million, a P/E ratio of 13.25 and a beta of 0.60.

Arrow Financial (NASDAQ:AROW) last issued its earnings results on Monday, July 22nd. The financial services provider reported $0.62 EPS for the quarter, meeting the consensus estimate of $0.62. Arrow Financial had a return on equity of 13.03% and a net margin of 27.06%. The business had revenue of $28.60 million for the quarter.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.04 annualized dividend and a yield of 3.25%.

A number of institutional investors and hedge funds have recently modified their holdings of AROW. Bank of America Corp DE raised its stake in shares of Arrow Financial by 6.9% during the second quarter. Bank of America Corp DE now owns 33,920 shares of the financial services provider’s stock valued at $1,178,000 after acquiring an additional 2,198 shares in the last quarter. BlackRock Inc. raised its stake in shares of Arrow Financial by 2.2% during the second quarter. BlackRock Inc. now owns 1,052,537 shares of the financial services provider’s stock valued at $36,554,000 after acquiring an additional 23,059 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Arrow Financial by 7.3% during the second quarter. Parametric Portfolio Associates LLC now owns 20,906 shares of the financial services provider’s stock valued at $726,000 after acquiring an additional 1,422 shares in the last quarter. Northern Trust Corp raised its stake in shares of Arrow Financial by 1.3% during the second quarter. Northern Trust Corp now owns 215,428 shares of the financial services provider’s stock valued at $7,482,000 after acquiring an additional 2,708 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Arrow Financial by 1.1% during the second quarter. Renaissance Technologies LLC now owns 348,840 shares of the financial services provider’s stock valued at $12,115,000 after acquiring an additional 3,800 shares in the last quarter. Institutional investors and hedge funds own 40.46% of the company’s stock.

Separately, BidaskClub upgraded Arrow Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th.

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 improvements to commercial properties, as well as commercial construction and land development loans to finance projects.

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