Arrow Financial (AROW) Stock Rating Upgraded by BidaskClub

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Arrow Financial (NASDAQ:AROW) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Saturday.

NASDAQ:AROW opened at $34.73 on Friday. The firm has a market capitalization of $534.15 million, a P/E ratio of 16.36 and a beta of 0.58. Arrow Financial has a 12-month low of $30.81 and a 12-month high of $40.15. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.77.

Arrow Financial (NASDAQ:AROW) last released its earnings results on Monday, July 23rd. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.05. The firm had revenue of $28.87 million during the quarter. Arrow Financial had a return on equity of 12.99% and a net margin of 28.50%.

In related news, Director Raymond F. O’conor sold 1,000 shares of Arrow Financial stock in a transaction on Monday, July 30th. The stock was sold at an average price of $38.89, for a total value of $38,890.00. Following the completion of the transaction, the director now directly owns 45,531 shares in the company, valued at $1,770,700.59. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP David D. Kaiser sold 963 shares of Arrow Financial stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $38.99, for a total value of $37,547.37. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,463 shares of company stock valued at $134,387. 4.42% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in AROW. First Republic Investment Management Inc. boosted its holdings in Arrow Financial by 132.6% in the second quarter. First Republic Investment Management Inc. now owns 87,558 shares of the financial services provider’s stock valued at $3,187,000 after purchasing an additional 49,919 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Arrow Financial by 4.5% in the second quarter. Dimensional Fund Advisors LP now owns 620,378 shares of the financial services provider’s stock valued at $22,582,000 after purchasing an additional 26,657 shares during the period. BlackRock Inc. boosted its holdings in Arrow Financial by 2.4% in the second quarter. BlackRock Inc. now owns 995,643 shares of the financial services provider’s stock valued at $36,242,000 after purchasing an additional 23,234 shares during the period. Renaissance Technologies LLC boosted its holdings in Arrow Financial by 3.4% in the second quarter. Renaissance Technologies LLC now owns 301,760 shares of the financial services provider’s stock valued at $10,984,000 after purchasing an additional 10,000 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Arrow Financial by 15.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 74,023 shares of the financial services provider’s stock valued at $2,695,000 after purchasing an additional 9,828 shares during the period. Hedge funds and other institutional investors own 39.12% of the company’s stock.

Arrow Financial Company Profile

Arrow Financial Corporation, a multi-bank holding company, provides commercial and consumer banking, and financial products and services. Its deposit products include demand deposits, interest-bearing checking accounts, savings deposits, time deposits, and other time deposits. The company's 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 improvements to commercial properties, as well as commercial construction and land development loans to finance projects.

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