Research Analysts Set Expectations for Arrow Financial Co.’s FY2020 Earnings (NASDAQ:AROW)

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Arrow Financial Co. (NASDAQ:AROW) – Equities researchers at Piper Sandler lifted their FY2020 earnings per share (EPS) estimates for shares of Arrow Financial in a research note issued on Monday, June 29th. Piper Sandler analyst A. Twerdahl now forecasts that the financial services provider will post earnings per share of $2.37 for the year, up from their previous estimate of $2.29. Piper Sandler also issued estimates for Arrow Financial’s Q1 2021 earnings at $0.61 EPS.

A number of other research analysts have also issued reports on AROW. Zacks Investment Research upgraded shares of Arrow Financial from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Tuesday. ValuEngine lowered shares of Arrow Financial from a “hold” rating to a “sell” rating in a report on Wednesday, March 4th. TheStreet lowered shares of Arrow Financial from a “b” rating to a “c+” rating in a report on Wednesday, March 18th. Finally, BidaskClub upgraded shares of Arrow Financial from a “strong sell” rating to a “sell” rating in a report on Friday, May 29th.

Shares of NASDAQ AROW opened at $29.73 on Wednesday. The company has a 50 day simple moving average of $28.13 and a 200 day simple moving average of $31.12. The firm has a market cap of $431.83 million, a PE ratio of 12.08 and a beta of 0.63. Arrow Financial has a 1 year low of $20.78 and a 1 year high of $38.31. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88 and a quick ratio of 0.88.

Arrow Financial (NASDAQ:AROW) last posted its earnings results on Friday, April 24th. The financial services provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.05). The company had revenue of $30.70 million during the quarter, compared to the consensus estimate of $29.49 million. Arrow Financial had a return on equity of 12.41% and a net margin of 26.12%.

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Wednesday, June 3rd were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $1.04 annualized dividend and a yield of 3.50%. Arrow Financial’s payout ratio is 41.60%.

A number of institutional investors have recently added to or reduced their stakes in AROW. Wealth Quarterback LLC bought a new position in Arrow Financial during the 4th quarter worth approximately $4,274,410,000. State Street Corp grew its position in shares of Arrow Financial by 10.8% during the 4th quarter. State Street Corp now owns 336,393 shares of the financial services provider’s stock worth $12,716,000 after buying an additional 32,758 shares during the period. Renaissance Technologies LLC grew its position in shares of Arrow Financial by 5.7% during the 4th quarter. Renaissance Technologies LLC now owns 399,270 shares of the financial services provider’s stock worth $15,092,000 after buying an additional 21,447 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Arrow Financial by 83.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 44,539 shares of the financial services provider’s stock worth $1,683,000 after buying an additional 20,322 shares during the period. Finally, HighTower Advisors LLC acquired a new stake in shares of Arrow Financial during the 1st quarter worth approximately $413,000. Hedge funds and other institutional investors own 42.55% of the company’s stock.

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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Earnings History and Estimates for Arrow Financial (NASDAQ:AROW)

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