Arrow Financial (NASDAQ:AROW) Raised to Hold at StockNews.com

Arrow Financial (NASDAQ:AROW) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Arrow Financial Trading Up 1.6 %

AROW opened at $23.92 on Thursday. The stock has a market capitalization of $399.27 million, a PE ratio of 13.91 and a beta of 0.72. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.90 and a quick ratio of 0.90. Arrow Financial has a 12-month low of $16.65 and a 12-month high of $29.66. The firm’s fifty day moving average price is $23.62 and its 200 day moving average price is $24.71.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). Arrow Financial had a return on equity of 7.95% and a net margin of 14.34%. The firm had revenue of $54.54 million during the quarter, compared to analyst estimates of $33.29 million. As a group, research analysts expect that Arrow Financial will post 2.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Arrow Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. Arrow Financial Corp increased its position in Arrow Financial by 1.1% in the fourth quarter. Arrow Financial Corp now owns 1,726,525 shares of the financial services provider’s stock worth $48,239,000 after buying an additional 18,937 shares during the period. Franklin Resources Inc. grew its position in Arrow Financial by 7.2% in the 4th quarter. Franklin Resources Inc. now owns 134,806 shares of the financial services provider’s stock worth $3,766,000 after purchasing an additional 9,094 shares during the last quarter. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Arrow Financial in the fourth quarter valued at approximately $230,000. IFG Advisory LLC bought a new stake in shares of Arrow Financial during the fourth quarter valued at approximately $225,000. Finally, Carl P. Sherr & Co. LLC acquired a new position in shares of Arrow Financial during the fourth quarter worth approximately $210,000. Institutional investors and hedge funds own 46.71% of the company’s stock.

About Arrow Financial

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