Short Interest in Arrow Financial Co. (NASDAQ:AROW) Rises By 10.4%

Arrow Financial Co. (NASDAQ:AROW) saw a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 134,600 shares, a growth of 10.4% from the May 15th total of 121,900 shares. Based on an average trading volume of 38,400 shares, the short-interest ratio is presently 3.5 days.

Insider Transactions at Arrow Financial

In other news, Director Raymond F. O’conor sold 4,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $23.63, for a total transaction of $94,520.00. Following the completion of the sale, the director now directly owns 46,419 shares in the company, valued at $1,096,880.97. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.55% of the stock is currently owned by insiders.

Institutional Trading of Arrow Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. McGlone Suttner Wealth Management Inc. acquired a new stake in Arrow Financial in the 4th quarter valued at $53,000. SG Americas Securities LLC lifted its position in Arrow Financial by 22.1% in the 4th quarter. SG Americas Securities LLC now owns 8,033 shares of the financial services provider’s stock worth $224,000 after buying an additional 1,454 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Arrow Financial during the fourth quarter valued at approximately $128,000. Trust Co. of Vermont boosted its holdings in Arrow Financial by 3.0% in the third quarter. Trust Co. of Vermont now owns 39,105 shares of the financial services provider’s stock valued at $666,000 after acquiring an additional 1,137 shares in the last quarter. Finally, Carl P. Sherr & Co. LLC bought a new stake in shares of Arrow Financial during the 4th quarter valued at $210,000. Institutional investors own 46.71% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Arrow Financial from a “sell” rating to a “hold” rating in a report on Thursday, May 9th.

Arrow Financial Trading Up 1.2 %

Arrow Financial stock traded up $0.29 during midday trading on Tuesday, reaching $25.03. 15,029 shares of the stock traded hands, compared to its average volume of 40,598. The company has a 50-day simple moving average of $23.83 and a two-hundred day simple moving average of $25.04. The firm has a market cap of $418.00 million, a PE ratio of 14.39 and a beta of 0.75. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.07. Arrow Financial has a 12-month low of $16.65 and a 12-month high of $29.66.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.02). Arrow Financial had a return on equity of 7.89% and a net margin of 14.34%. The business had revenue of $54.54 million during the quarter, compared to analyst estimates of $33.29 million. Research analysts expect that Arrow Financial will post 2.29 earnings per share for the current fiscal year.

Arrow Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 13th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.08 annualized dividend and a yield of 4.31%. Arrow Financial’s payout ratio is currently 62.81%.

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.