Arrow Financial’s (AROW) Overweight Rating Reiterated at Piper Sandler

Arrow Financial (NASDAQ:AROW)‘s stock had its “overweight” rating reaffirmed by research analysts at Piper Sandler in a note issued to investors on Monday, Benzinga reports. They currently have a $45.00 price objective on the financial services provider’s stock, down from their prior price objective of $46.00. Piper Sandler‘s price objective indicates a potential upside of 14.88% from the stock’s previous close.

A number of other research firms also recently weighed in on AROW. Weiss Ratings reiterated a “buy (b)” rating on shares of Arrow Financial in a research report on Thursday, October 22nd. Raymond James Financial assumed coverage on shares of Arrow Financial in a research note on Tuesday, September 1st. They issued an “outperform” rating and a $44.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $41.38.

Arrow Financial Stock Performance

NASDAQ:AROW traded up $0.70 during mid-day trading on Monday, reaching $39.17. 11,862 shares of the company’s stock were exchanged, compared to its average volume of 87,911. Arrow Financial has a one year low of $28.92 and a one year high of $42.70. The firm has a market capitalization of $725.45 million, a PE ratio of 14.85 and a beta of 0.75. The business’s fifty day simple moving average is $37.91 and its two-hundred day simple moving average is $37.06. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.92 and a current ratio of 0.92.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings data on Thursday, October 29th. The financial services provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. The business had revenue of $60.15 million during the quarter, compared to analysts’ expectations of $57.82 million. Arrow Financial had a net margin of 16.56% and a return on equity of 13.18%. Analysts anticipate that Arrow Financial will post 3.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC acquired a new position in Arrow Financial during the second quarter worth about $34,000. Legal & General Group Plc bought a new position in shares of Arrow Financial in the second quarter worth about $66,000. Adirondack Trust Co. boosted its stake in shares of Arrow Financial by 14.7% in the 3rd quarter. Adirondack Trust Co. now owns 2,818 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 362 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Arrow Financial in the 2nd quarter valued at approximately $202,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Arrow Financial in the 2nd quarter valued at approximately $230,000. Institutional investors own 46.71% of the company’s stock.

About Arrow Financial

Arrow Financial Corporation (NASDAQ: AROW) is a bank holding company headquartered in Glens Falls, New York. Through its banking subsidiaries, the company provides commercial and consumer banking services to individuals, families, businesses and municipalities.

Arrow’s offerings include checking and savings accounts, certificates of deposit, residential mortgages, home equity financing, consumer loans, commercial lending, treasury management and online banking. Through affiliated businesses, it also provides investment management, trust and financial planning services, as well as insurance products.

The company’s banking operations serve communities primarily in eastern New York, including the Capital Region, the Adirondacks and the surrounding areas.