Arrow Financial Co. (AROW) Director Raymond F. O’conor Sells 500 Shares

Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 500 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $34.35, for a total transaction of $17,175.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Arrow Financial Co. (AROW) opened at $34.25 on Friday. The company has a market cap of $485.12, a price-to-earnings ratio of 17.16 and a beta of 0.66. Arrow Financial Co. has a twelve month low of $30.70 and a twelve month high of $38.60. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.44.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings results on Monday, October 23rd. The financial services provider reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.01). The company had revenue of $26.79 million during the quarter. Arrow Financial had a return on equity of 11.68% and a net margin of 25.36%.

Arrow Financial declared that its Board of Directors has approved a share buyback program on Friday, October 27th that authorizes the company to repurchase $5.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

AROW has been the topic of a number of research analyst reports. Sandler O’Neill set a $37.00 price target on shares of Arrow Financial and gave the stock a “hold” rating in a report on Wednesday, January 3rd. BidaskClub lowered shares of Arrow Financial from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd.

Large investors have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new position in shares of Arrow Financial in the 3rd quarter worth $113,000. Schroder Investment Management Group increased its holdings in shares of Arrow Financial by 49.5% in the 2nd quarter. Schroder Investment Management Group now owns 3,608 shares of the financial services provider’s stock worth $115,000 after buying an additional 1,194 shares during the last quarter. Maple Capital Management Inc. bought a new position in shares of Arrow Financial in the 3rd quarter worth $216,000. Goldman Sachs Group Inc. bought a new position in shares of Arrow Financial in the 2nd quarter worth $216,000. Finally, Alliancebernstein L.P. increased its holdings in shares of Arrow Financial by 29.2% in the 2nd quarter. Alliancebernstein L.P. now owns 10,627 shares of the financial services provider’s stock worth $336,000 after buying an additional 2,400 shares during the last quarter. 39.97% of the stock is currently owned by hedge funds and other institutional investors.

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About Arrow Financial

Arrow Financial Corporation (Arrow) is a bank holding company. The Company’s banking subsidiaries are Glens Falls National Bank and Trust Company (Glens Falls National) and Saratoga National Bank and Trust Company (Saratoga National). It operates in community banking industry segment. The Company’s business consists primarily of the ownership, supervision and control of its two banks.

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