Arrow Financial (NASDAQ:AROW) Stock Price Crosses Above 200-Day Moving Average of $0.00

Arrow Financial Co. (NASDAQ:AROW) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.00 and traded as high as $37.00. Arrow Financial shares last traded at $36.98, with a volume of 39,300 shares changing hands.

Separately, Zacks Investment Research raised Arrow Financial from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Friday, April 30th.

The business has a 50-day moving average price of $35.68. The company has a market capitalization of $572.19 million, a P/E ratio of 12.42 and a beta of 0.69. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.89 and a quick ratio of 0.89.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings results on Monday, April 26th. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.16. The company had revenue of $34.76 million for the quarter, compared to the consensus estimate of $33.24 million. Arrow Financial had a return on equity of 13.93% and a net margin of 31.72%. On average, sell-side analysts forecast that Arrow Financial Co. will post 3.22 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Stockholders of record on Wednesday, June 2nd will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Tuesday, June 1st. Arrow Financial’s payout ratio is currently 39.39%.

In other news, SVP David S. Demarco sold 5,797 shares of the stock in a transaction dated Friday, April 30th. The shares were sold at an average price of $35.31, for a total transaction of $204,692.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.28% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Jane Street Group LLC purchased a new stake in shares of Arrow Financial during the 1st quarter worth about $247,000. HRT Financial LP purchased a new stake in shares of Arrow Financial during the 1st quarter worth about $287,000. Maple Capital Management Inc. purchased a new stake in shares of Arrow Financial during the 1st quarter worth about $207,000. UBS Asset Management Americas Inc. boosted its stake in shares of Arrow Financial by 88.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 15,746 shares of the financial services provider’s stock worth $524,000 after acquiring an additional 7,407 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Arrow Financial by 62.9% during the 1st quarter. Franklin Resources Inc. now owns 102,581 shares of the financial services provider’s stock worth $3,417,000 after acquiring an additional 39,610 shares in the last quarter. 42.47% of the stock is currently owned by institutional investors and hedge funds.

About Arrow Financial (NASDAQ:AROW)

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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