Insider Selling: Arrow Financial Co. (NASDAQ:AROW) Director Sells 2,000 Shares of Stock

Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 2,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $28.85, for a total transaction of $57,700.00. Following the completion of the sale, the director now owns 35,859 shares of the company’s stock, valued at $1,034,532.15. The trade was a 5.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Arrow Financial Price Performance

NASDAQ:AROW traded down $0.10 during trading hours on Friday, reaching $27.70. The company had a trading volume of 38,323 shares, compared to its average volume of 39,137. The firm has a market capitalization of $463.67 million, a PE ratio of 14.13 and a beta of 0.75. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06. The stock has a 50-day moving average of $31.10 and a two-hundred day moving average of $29.29. Arrow Financial Co. has a one year low of $21.50 and a one year high of $34.63.

Arrow Financial (NASDAQ:AROW) last posted its earnings results on Thursday, October 31st. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. Arrow Financial had a net margin of 15.00% and a return on equity of 8.59%. The company had revenue of $57.58 million during the quarter.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Piper Sandler assumed coverage on Arrow Financial in a research note on Friday, December 20th. They set a “neutral” rating and a $32.00 target price for the company. Hovde Group lowered their target price on shares of Arrow Financial from $34.50 to $32.00 and set a “market perform” rating on the stock in a research note on Friday, December 27th.

Hedge Funds Weigh In On Arrow Financial

A number of large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its holdings in Arrow Financial by 13.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 398 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Arrow Financial in the 3rd quarter valued at $164,000. Carl P. Sherr & Co. LLC acquired a new stake in shares of Arrow Financial during the third quarter worth about $216,000. Atria Investments Inc lifted its stake in Arrow Financial by 32.6% in the third quarter. Atria Investments Inc now owns 16,856 shares of the financial services provider’s stock valued at $483,000 after buying an additional 4,148 shares in the last quarter. Finally, Private Advisor Group LLC boosted its stake in Arrow Financial by 74.1% in the 2nd quarter. Private Advisor Group LLC now owns 19,934 shares of the financial services provider’s stock worth $519,000 after purchasing an additional 8,483 shares during the period. 46.71% of the stock is currently owned by institutional investors and hedge funds.

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.