Arrow Financial (NASDAQ:AROW) Releases Earnings Results

Arrow Financial (NASDAQ:AROW) issued its earnings results on Tuesday. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02), Yahoo Finance reports. The company had revenue of $54.54 million during the quarter, compared to analyst estimates of $33.29 million. Arrow Financial had a return on equity of 7.95% and a net margin of 14.34%.

Arrow Financial Trading Up 0.1 %

NASDAQ:AROW traded up $0.03 on Thursday, hitting $23.31. 6,707 shares of the stock were exchanged, compared to its average volume of 40,370. The stock has a market cap of $389.04 million, a PE ratio of 13.54 and a beta of 0.72. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average of $23.67 and a 200-day moving average of $24.52. Arrow Financial has a fifty-two week low of $16.65 and a fifty-two week high of $29.66.

Arrow Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 13th will be paid a $0.27 dividend. The ex-dividend date is Friday, May 10th. This represents a $1.08 annualized dividend and a yield of 4.63%. Arrow Financial’s payout ratio is currently 62.81%.

Analyst Upgrades and Downgrades

AROW has been the subject of a number of research analyst reports. Hovde Group initiated coverage on Arrow Financial in a report on Tuesday, January 9th. They set a “market perform” rating for the company. StockNews.com cut Arrow Financial from a “hold” rating to a “sell” rating in a research note on Wednesday.

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.