Arrow Financial (NASDAQ:AROW) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

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

Arrow Financial Price Performance

Shares of NASDAQ:AROW opened at $23.28 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $388.54 million, a price-to-earnings ratio of 13.54 and a beta of 0.72. The business has a 50-day simple moving average of $23.67 and a two-hundred day simple moving average of $24.52. Arrow Financial has a fifty-two week low of $16.65 and a fifty-two week high of $29.66.

Arrow Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 13th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.08 annualized dividend and a yield of 4.64%. Arrow Financial’s payout ratio is 62.81%.

Analysts Set New Price Targets

A number of research firms recently weighed in on AROW. StockNews.com lowered Arrow Financial from a “hold” rating to a “sell” rating in a research report on Wednesday. Hovde Group initiated coverage on shares of Arrow Financial in a research note on Tuesday, January 9th. They set a “market perform” rating for the company.

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.