Arrow Financial (NASDAQ:AROW) CFO Penko Krassimir Ivanov Buys 1,620 Shares of Stock

Arrow Financial Corporation (NASDAQ:AROW) CFO Penko Krassimir Ivanov acquired 1,620 shares of the stock in a transaction dated Tuesday, November 4th. The shares were purchased at an average price of $29.82 per share, for a total transaction of $48,308.40. Following the completion of the transaction, the chief financial officer owned 26,394 shares of the company’s stock, valued at $787,069.08. This trade represents a 6.54% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Penko Krassimir Ivanov also recently made the following trade(s):

• On Wednesday, September 10th, Penko Krassimir Ivanov purchased 5,000 shares of Arrow Financial stock. The stock was bought at an average cost of $29.10 per share, for a total transaction of $145,500.00.
• On Wednesday, August 27th, Penko Krassimir Ivanov acquired 10,922 shares of Arrow Financial stock. The stock was acquired at an average cost of $29.46 per share, for a total transaction of $321,762.12.
• On Tuesday, August 26th, Penko Krassimir Ivanov bought 1,078 shares of Arrow Financial stock. The shares were purchased at an average price of $29.46 per share, with a total value of $31,757.88.

Arrow Financial Trading Up 2.5%

NASDAQ AROW opened at $30.99 on Thursday. The stock has a 50-day simple moving average of $28.28 and a 200 day simple moving average of $27.14. The company has a market capitalization of $510.37 million, a PE ratio of 16.93 and a beta of 0.83. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06. Arrow Financial Corporation has a 12 month low of $22.72 and a 12 month high of $34.63.

Arrow Financial (NASDAQ:AROW) last posted its earnings results on Thursday, October 30th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. The business had revenue of $34.13 million during the quarter, compared to analysts’ expectations of $41.00 million. Arrow Financial had a return on equity of 8.64% and a net margin of 13.28%. Research analysts forecast that Arrow Financial Corporation will post 2.65 EPS for the current year.

Arrow Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Stockholders of record on Wednesday, November 12th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Wednesday, November 12th. Arrow Financial’s dividend payout ratio is currently 56.04%.

Hedge Funds Weigh In On Arrow Financial

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Arrow Financial by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 833,728 shares of the financial services provider’s stock valued at $21,919,000 after purchasing an additional 30,459 shares during the last quarter. American Century Companies Inc. lifted its holdings in Arrow Financial by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 328,677 shares of the financial services provider’s stock worth $8,684,000 after buying an additional 5,679 shares during the period. Rhino Investment Partners Inc lifted its holdings in Arrow Financial by 3.3% during the 1st quarter. Rhino Investment Partners Inc now owns 196,282 shares of the financial services provider’s stock worth $5,160,000 after buying an additional 6,190 shares during the period. Rockefeller Capital Management L.P. raised its position in shares of Arrow Financial by 0.5% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 118,825 shares of the financial services provider’s stock worth $3,139,000 after acquiring an additional 538 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Arrow Financial by 9.2% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 85,773 shares of the financial services provider’s stock worth $2,255,000 after acquiring an additional 7,225 shares in the last quarter. Institutional investors own 46.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wall Street Zen raised Arrow Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Hovde Group raised Arrow Financial from a “market perform” rating to an “outperform” rating and increased their price target for the company from $28.50 to $33.50 in a research report on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Arrow Financial in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $30.75.

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