Arrow Financial (NASDAQ:AROW) Issues Quarterly Earnings Results

Arrow Financial (NASDAQ:AROW) posted its earnings results on Tuesday. The financial services provider reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02), Yahoo Finance reports. Arrow Financial had a net margin of 14.34% and a return on equity of 7.95%. The business had revenue of $54.54 million for the quarter, compared to analyst estimates of $33.29 million.

Arrow Financial Price Performance

Arrow Financial stock traded down $0.03 during midday trading on Thursday, reaching $23.25. The company had a trading volume of 9,440 shares, compared to its average volume of 40,401. The company has a market capitalization of $388.04 million, a P/E ratio of 13.54 and a beta of 0.72. Arrow Financial has a 12-month low of $16.65 and a 12-month high of $29.66. The firm’s fifty day simple moving average is $23.67 and its 200-day simple moving average is $24.52. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.90 and a quick ratio of 0.90.

Arrow Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 13th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date of this dividend is Friday, May 10th. Arrow Financial’s dividend payout ratio is presently 62.81%.

Analysts Set New Price Targets

A number of research firms have recently commented on AROW. Hovde Group began coverage on Arrow Financial in a research report on Tuesday, January 9th. They set a “market perform” rating on the stock. StockNews.com cut Arrow Financial from a “hold” rating to a “sell” rating in a research report on Wednesday.

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.