Arrow Financial (NASDAQ:AROW) Sets New 1-Year High – Should You Buy?

Arrow Financial Corporation (NASDAQ:AROW)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $38.16 and last traded at $37.5550, with a volume of 16750 shares traded. The stock had previously closed at $37.46.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AROW shares. Wall Street Zen downgraded Arrow Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings raised Arrow Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.50.

Arrow Financial Price Performance

The stock has a market cap of $623.02 million, a PE ratio of 12.20 and a beta of 0.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.92 and a quick ratio of 0.92. The business has a fifty day moving average of $36.22 and a 200 day moving average of $33.94.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.06. The firm had revenue of $53.39 million during the quarter, compared to the consensus estimate of $43.80 million. Arrow Financial had a return on equity of 12.38% and a net margin of 20.72%.

Arrow Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $1.20 dividend on an annualized basis and a yield of 3.2%. Arrow Financial’s dividend payout ratio is currently 38.83%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AROW. Segall Bryant & Hamill LLC purchased a new position in Arrow Financial in the fourth quarter valued at about $2,175,000. Arrowstreet Capital Limited Partnership raised its stake in Arrow Financial by 71.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 114,449 shares of the financial services provider’s stock valued at $3,842,000 after buying an additional 47,752 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Arrow Financial during the first quarter valued at approximately $995,000. Millennium Management LLC acquired a new stake in Arrow Financial during the third quarter valued at approximately $834,000. Finally, Rhino Investment Partners Inc raised its stake in Arrow Financial by 13.9% during the third quarter. Rhino Investment Partners Inc now owns 227,804 shares of the financial services provider’s stock valued at $6,447,000 after buying an additional 27,856 shares in the last quarter. Hedge funds and other institutional investors own 46.71% of the company’s stock.

Arrow Financial Company Profile

Arrow Financial Corporation is a bank holding company headquartered in Glens Falls, New York, that conducts its primary operations through its subsidiary, Glens Falls National Bank & Trust Company. The company provides a comprehensive suite of retail and commercial banking services, including checking and savings accounts, consumer and commercial lending, mortgage financing, and cash management solutions. Through its branch network, Arrow Financial serves individuals, small- and medium-sized businesses, and nonprofit organizations across the Adirondack region, Upper Hudson Valley, Mohawk Valley and parts of Central New York.

In addition to traditional banking, Arrow Financial has developed a robust wealth management and trust services division.