BidaskClub Upgrades Arrow Financial Corporation (AROW) to Hold

Arrow Financial Corporation (NASDAQ:AROW) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Monday, July 24th.

Arrow Financial Corporation (AROW) opened at 31.90 on Monday. Arrow Financial Corporation has a 52-week low of $30.56 and a 52-week high of $41.70. The stock has a market cap of $430.94 million, a PE ratio of 15.87 and a beta of 0.64. The firm has a 50-day moving average price of $31.97 and a 200 day moving average price of $33.32.

Arrow Financial Corporation (NASDAQ:AROW) last posted its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. Arrow Financial Corporation had a return on equity of 11.58% and a net margin of 25.28%. The business had revenue of $26.28 million during the quarter. Equities analysts anticipate that Arrow Financial Corporation will post $2.15 earnings per share for the current year.

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In related news, Chairman Thomas L. Hoy sold 1,000 shares of Arrow Financial Corporation stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $32.75, for a total transaction of $32,750.00. Following the completion of the transaction, the chairman now owns 170,934 shares in the company, valued at $5,598,088.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.63% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Schroder Investment Management Group boosted its position in Arrow Financial Corporation by 49.5% in the second quarter. Schroder Investment Management Group now owns 3,608 shares of the financial services provider’s stock worth $115,000 after buying an additional 1,194 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Arrow Financial Corporation during the second quarter worth about $216,000. Bradley Foster & Sargent Inc. CT purchased a new stake in shares of Arrow Financial Corporation during the second quarter worth about $269,000. Alliancebernstein L.P. boosted its stake in shares of Arrow Financial Corporation by 29.2% in the second quarter. Alliancebernstein L.P. now owns 10,627 shares of the financial services provider’s stock worth $336,000 after buying an additional 2,400 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Arrow Financial Corporation by 4.2% in the second quarter. Parametric Portfolio Associates LLC now owns 17,173 shares of the financial services provider’s stock worth $544,000 after buying an additional 686 shares in the last quarter. Institutional investors and hedge funds own 40.02% of the company’s stock.

Arrow Financial Corporation Company Profile

Arrow Financial Corporation (Arrow) is a bank holding company. The Company’s banking subsidiaries are Glens Falls National Bank and Trust Company (Glens Falls National) and Saratoga National Bank and Trust Company (Saratoga National). It operates in community banking industry segment. The Company’s business consists primarily of the ownership, supervision and control of its two banks.

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