Arrow Financial Co. to Issue Quarterly Dividend of $0.27 (NASDAQ:AROW)

Arrow Financial Co. (NASDAQ:AROW) declared a quarterly dividend on Tuesday, April 30th, Zacks reports. Shareholders of record on Monday, May 13th will be given a dividend of 0.27 per share by the financial services provider on Friday, May 24th. This represents a $1.08 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend is Friday, May 10th.

Arrow Financial has increased its dividend payment by an average of 4.3% annually over the last three years and has increased its dividend every year for the last 6 years. Arrow Financial has a payout ratio of 41.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Arrow Financial to earn $2.71 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 39.9%.

Arrow Financial Stock Performance

Shares of Arrow Financial stock opened at $23.92 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $399.27 million, a PE ratio of 13.91 and a beta of 0.72. The company has a 50 day moving average of $23.62 and a 200-day moving average of $24.71. Arrow Financial has a 1-year low of $16.65 and a 1-year high of $29.66.

Arrow Financial (NASDAQ:AROW) last released its earnings results on Tuesday, April 30th. The financial services provider reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.02). 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 for the quarter, compared to the consensus estimate of $33.29 million. As a group, equities research analysts forecast that Arrow Financial will post 2.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com raised Arrow Financial from a “sell” rating to a “hold” rating in a research note on Thursday.

About Arrow Financial

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.