Arrow Financial (NASDAQ:AROW) Announces Quarterly Results

Arrow Financial (NASDAQ:AROW – Get Free Report) announced its quarterly results on Thursday. The financial services provider reported earnings per share (EPS) of $0.52 for the quarter, Zacks reports. Arrow Financial had a return on equity of 7.89% and a net margin of 14.34%. The company had revenue of $55.83 million for the quarter.

Arrow Financial shares down 0.7%

Arrow Financial stock opened at $32.17 on Friday. The company has a liquidity ratio of 0.90, a quick ratio of 0.90, and a debt-to-equity ratio of 0.07. The company’s 50-day simple moving average is $26.22 and its 200-day simple moving average is $24.95. The stock has a market cap of $537.24 million, a price-to-earnings ratio of 18.71, and a beta of 0.74. Arrow Financial has a 12-month low of $16.65 and a 12-month high of $32.92.

Arrow Financial Dividend Announcement

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

Insider Trading at Arrow Financial

In related 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 priced at an average price of $23.63, for a total transaction of $94,520.00. Following the sale, the Director now directly 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 Securities & Exchange Commission, which can be found on the SEC’s website. Insiders own 3.55% of the company’s stock.

Wall Street analysts’ opinion

Separately, StockNews.com downgraded Arrow Financial’s rating from “hold” to “sell” in a research note issued Monday, July 22.

Read our latest report on Arrow Financial

About Arrow Financial

(Get a free report)

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 include commercial loans, such as term loans, term notes and lines of credit, and commercial real estate loans to finance real estate purchases, refinancings, expansions and improvements of commercial properties, as well as commercial construction and land development loans to finance projects.

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