Arrow Financial (NASDAQ:AROW) Releases Earnings Results

Arrow Financial (NASDAQ:AROW) announced its earnings results on Thursday. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, Zacks reports. 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.

Arrow Financial Price Performance

Shares of AROW traded down $0.24 during trading hours on Friday, hitting $32.17. 56,278 shares of the company were exchanged, compared to its average volume of 43,559. The company has a market cap of $537.24 million, a price-to-earnings ratio of 18.71 and a beta of 0.74. The firm’s fifty day moving average is $26.22 and its 200 day moving average is $24.95. Arrow Financial has a fifty-two week low of $16.65 and a fifty-two week high of $32.92. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.07.

Arrow Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Monday, August 12th will be given a dividend of $0.27 per share. The ex-dividend date is Monday, August 12th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.36%. Arrow Financial’s payout ratio is 62.81%.

Insider Buying and Selling

In other news, Director Raymond F. O’conor sold 4,000 shares of the company’s stock in a transaction that occurred on 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 owns 46,419 shares of the company’s stock, valued at approximately $1,096,880.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.