Arrow Financial Co. (NASDAQ:AROW – Get Free Report) 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.
Analyst Upgrades and Downgrades
Separately, StockNews.com cut Arrow Financial from a “hold” rating to a “sell” rating in a research report on Monday.
Check Out Our Latest Stock Analysis on AROW
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.
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