StockNews.com Upgrades Arrow Financial (NASDAQ:AROW) to “Hold”

Arrow Financial (NASDAQ:AROW) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Friday.

Separately, Hovde Group assumed coverage on Arrow Financial in a report on Tuesday, January 9th. They set a “market perform” rating on the stock.

Arrow Financial Price Performance

Shares of AROW stock traded up $0.89 during trading hours on Friday, reaching $22.79. The company’s stock had a trading volume of 78,574 shares, compared to its average volume of 41,264. 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 has a fifty-two week low of $16.65 and a fifty-two week high of $29.66. The company has a market capitalization of $377.24 million, a price-to-earnings ratio of 12.88 and a beta of 0.70. The firm’s 50 day simple moving average is $23.91 and its 200-day simple moving average is $24.17.

Arrow Financial (NASDAQ:AROW) last released its quarterly earnings data on Thursday, February 1st. The financial services provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.04). Arrow Financial had a net margin of 15.69% and a return on equity of 8.21%. The firm had revenue of $33.10 million for the quarter, compared to analyst estimates of $35.01 million. Sell-side analysts forecast that Arrow Financial will post 2.33 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AROW. Bank of New York Mellon Corp raised its position in Arrow Financial by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 99,807 shares of the financial services provider’s stock worth $3,236,000 after purchasing an additional 864 shares during the last quarter. American Century Companies Inc. raised its position in Arrow Financial by 28.8% during the 1st quarter. American Century Companies Inc. now owns 59,937 shares of the financial services provider’s stock worth $1,943,000 after purchasing an additional 13,391 shares during the last quarter. MetLife Investment Management LLC raised its position in Arrow Financial by 47.6% during the 1st quarter. MetLife Investment Management LLC now owns 7,031 shares of the financial services provider’s stock worth $228,000 after purchasing an additional 2,267 shares during the last quarter. Great West Life Assurance Co. Can raised its position in Arrow Financial by 71.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 944 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 395 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Arrow Financial by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 718,468 shares of the financial services provider’s stock worth $23,292,000 after purchasing an additional 6,345 shares during the last quarter. 46.71% of the stock is owned by institutional investors.

Arrow Financial Company Profile

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.