Arrow Financial (NASDAQ:AROW) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Arrow Financial (NASDAQ:AROWGet Rating) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.04, Fidelity Earnings reports. Arrow Financial had a net margin of 33.05% and a return on equity of 13.60%.

Arrow Financial Trading Down 0.3 %

AROW stock traded down $0.10 during trading on Thursday, hitting $33.41. The company had a trading volume of 132 shares, compared to its average volume of 17,412. The firm has a 50-day moving average price of $32.17 and a 200-day moving average price of $33.08. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.14. Arrow Financial has a 12 month low of $30.50 and a 12 month high of $38.24. The stock has a market cap of $535.23 million, a price-to-earnings ratio of 10.97 and a beta of 0.60.

Arrow Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend was Tuesday, May 31st. Arrow Financial’s dividend payout ratio (DPR) is presently 35.47%.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Arrow Financial in a research report on Thursday, March 31st. They issued a “hold” rating for the company.

Institutional Trading of Arrow Financial

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Arrow Financial by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 718,468 shares of the financial services provider’s stock valued at $23,292,000 after buying an additional 6,345 shares during the period. State Street Corp grew its holdings in shares of Arrow Financial by 1.9% in the 1st quarter. State Street Corp now owns 346,626 shares of the financial services provider’s stock valued at $11,238,000 after buying an additional 6,624 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Arrow Financial by 2.2% in the 1st quarter. Renaissance Technologies LLC now owns 345,615 shares of the financial services provider’s stock valued at $11,205,000 after buying an additional 7,500 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Arrow Financial by 0.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 111,258 shares of the financial services provider’s stock valued at $3,607,000 after buying an additional 939 shares during the period. Finally, First Republic Investment Management Inc. grew its holdings in shares of Arrow Financial by 0.3% in the 1st quarter. First Republic Investment Management Inc. now owns 105,410 shares of the financial services provider’s stock valued at $3,417,000 after buying an additional 324 shares during the period. Institutional investors and hedge funds own 43.75% of the company’s stock.

About Arrow Financial

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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 improvements to commercial properties, as well as commercial construction and land development loans to finance projects.

Further Reading

Earnings History for Arrow Financial (NASDAQ:AROW)

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