Brokers Issue Forecasts for Arrow Financial Co.’s FY2020 Earnings (NASDAQ:AROW)

Arrow Financial Co. (NASDAQ:AROW) – Investment analysts at Piper Sandler issued their FY2020 EPS estimates for Arrow Financial in a report issued on Tuesday, January 14th. Piper Sandler analyst A. Twerdahl anticipates that the financial services provider will post earnings of $2.69 per share for the year.

Separately, BidaskClub lowered shares of Arrow Financial from a “hold” rating to a “sell” rating in a research report on Friday.

Arrow Financial stock traded down $0.30 on Friday, reaching $37.10. 419 shares of the stock were exchanged, compared to its average volume of 18,730. The stock has a market cap of $560.10 million, a PE ratio of 15.19 and a beta of 0.62. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.35. Arrow Financial has a twelve month low of $30.46 and a twelve month high of $38.31. The firm has a fifty day moving average price of $36.96 and a two-hundred day moving average price of $34.57.

Arrow Financial (NASDAQ:AROW) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.05. The firm had revenue of $29.99 million during the quarter. Arrow Financial had a net margin of 26.90% and a return on equity of 13.00%.

Several institutional investors and hedge funds have recently made changes to their positions in AROW. Arrow Financial Corp raised its position in shares of Arrow Financial by 2.9% during the third quarter. Arrow Financial Corp now owns 1,434,873 shares of the financial services provider’s stock valued at $47,910,000 after buying an additional 40,118 shares during the last quarter. BlackRock Inc. raised its position in Arrow Financial by 2.2% in the second quarter. BlackRock Inc. now owns 1,052,537 shares of the financial services provider’s stock worth $36,554,000 after purchasing an additional 23,059 shares in the last quarter. Royal Bank of Canada raised its position in Arrow Financial by 1,040.5% in the second quarter. Royal Bank of Canada now owns 18,146 shares of the financial services provider’s stock worth $630,000 after purchasing an additional 16,555 shares in the last quarter. State Street Corp raised its position in Arrow Financial by 4.6% in the third quarter. State Street Corp now owns 303,635 shares of the financial services provider’s stock worth $10,138,000 after purchasing an additional 13,426 shares in the last quarter. Finally, HM Payson & Co. acquired a new position in Arrow Financial in the second quarter worth about $186,000. 41.71% of the stock is owned by institutional investors and hedge funds.

In other news, Chairman Thomas L. Hoy sold 1,500 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $36.05, for a total transaction of $54,075.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary C. Dake sold 3,500 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $35.17, for a total transaction of $123,095.00. Following the transaction, the director now directly owns 32,554 shares of the company’s stock, valued at approximately $1,144,924.18. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,150 shares of company stock valued at $218,821. Company insiders own 4.02% 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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