Arrow Financial (AROW) Rating Lowered to Sell at BidaskClub

Arrow Financial (NASDAQ:AROW) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

Arrow Financial (NASDAQ AROW) traded down $0.10 on Wednesday, reaching $33.70. The company had a trading volume of 16,200 shares, compared to its average volume of 14,733. Arrow Financial has a twelve month low of $30.70 and a twelve month high of $40.70. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.44. The company has a market cap of $470.51, a PE ratio of 16.88 and a beta of 0.66.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings results on Monday, October 23rd. The financial services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). Arrow Financial had a net margin of 25.36% and a return on equity of 11.68%. The business had revenue of $26.79 million during the quarter.

Arrow Financial announced that its board has authorized a share repurchase plan on Friday, October 27th that allows the company to repurchase $5.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

In related news, SVP David S. Demarco sold 4,141 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $35.30, for a total value of $146,177.30. Following the sale, the senior vice president now owns 22,448 shares in the company, valued at approximately $792,414.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Thomas L. Hoy sold 1,300 shares of the stock in a transaction on Friday, November 17th. The shares were sold at an average price of $35.16, for a total value of $45,708.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,941 shares of company stock worth $209,435. 4.63% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Teachers Advisors LLC raised its stake in Arrow Financial by 0.9% in the 2nd quarter. Teachers Advisors LLC now owns 20,913 shares of the financial services provider’s stock valued at $662,000 after acquiring an additional 181 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Arrow Financial by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 54,589 shares of the financial services provider’s stock valued at $1,728,000 after buying an additional 323 shares in the last quarter. Prudential Financial Inc. grew its holdings in Arrow Financial by 0.9% in the 2nd quarter. Prudential Financial Inc. now owns 37,330 shares of the financial services provider’s stock valued at $1,181,000 after buying an additional 330 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in Arrow Financial by 4.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 17,173 shares of the financial services provider’s stock valued at $544,000 after buying an additional 686 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Arrow Financial by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 88,592 shares of the financial services provider’s stock valued at $2,804,000 after buying an additional 1,084 shares in the last quarter. Institutional investors and hedge funds own 39.97% of the company’s stock.

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Arrow Financial Company Profile

Arrow Financial Corporation (Arrow) is a bank holding company. The Company’s banking subsidiaries are Glens Falls National Bank and Trust Company (Glens Falls National) and Saratoga National Bank and Trust Company (Saratoga National). It operates in community banking industry segment. The Company’s business consists primarily of the ownership, supervision and control of its two banks.

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