Arrow Financial Co. (AROW) to Issue Quarterly Dividend of $0.27 on August 23rd

Arrow Financial Co. (NASDAQ:AROW) declared a quarterly dividend on Wednesday, July 24th, Zacks reports. Investors of record on Monday, August 12th will be given a dividend of 0.27 per share by the financial services provider on Friday, August 23rd. This represents a $1.08 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend is Monday, August 12th.

Arrow Financial has increased its dividend payment by an average of 4.3% per year over the last three years. Arrow Financial has a dividend payout ratio of 40.1% meaning its dividend is sufficiently covered by earnings.

Arrow Financial Stock Down 0.7 %

Shares of AROW traded down $0.24 during midday trading on Friday, hitting $32.17. The company had a trading volume of 56,278 shares, compared to its average volume of 43,559. Arrow Financial has a 1 year low of $16.65 and a 1 year high of $32.92. The firm has a market capitalization of $537.24 million, a P/E ratio of 18.60 and a beta of 0.74. 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 company’s 50-day simple moving average is $26.08 and its 200-day simple moving average is $24.91.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter. Arrow Financial had a net margin of 14.34% and a return on equity of 7.89%. The company had revenue of $55.83 million during the quarter.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Arrow Financial from a “hold” rating to a “sell” rating in a research report on Monday.

Insider Activity

In other Arrow Financial news, Director Raymond F. O’conor sold 4,000 shares of Arrow Financial stock in a transaction on Friday, May 10th. The shares were sold at an average price of $23.63, for a total value of $94,520.00. Following the transaction, 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 available at the SEC website. Corporate insiders own 3.55% of the company’s stock.

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.