Arrow Financial Co. (NASDAQ:AROW) Short Interest Down 6.9% in July

Arrow Financial Co. (NASDAQ:AROW – Get Free Report) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 186,500 shares, a drop of 6.9% from the July 15th total of 200,400 shares. Based on an average daily volume of 48,000 shares, the days-to-cover ratio is presently 3.9 days.
Analysts Set New Price Targets
Separately, StockNews.com raised Arrow Financial from a ‘sell’ rating to a ‘hold’ rating in a research note on Tuesday, July 30th.
Arrow Financial Stock Performance
Shares of AROW stock opened at $29.05 on Tuesday. 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 firm has a fifty day simple moving average of $27.49 and a two-hundred day simple moving average of $25.23. Arrow Financial has a 12 month low of $16.65 and a 12 month high of $32.92. The firm has a market capitalization of $485.08 million, a PE ratio of 16.89 and a beta of 0.74.
Arrow Financial (NASDAQ:AROW – Get Free Report) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.52 EPS for the quarter. The company had revenue of $55.83 million during the quarter. Arrow Financial had a net margin of 14.94% and a return on equity of 8.52%.
Arrow Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 12th will be given a dividend of $0.27 per share. The ex-dividend date is Monday, August 12th. This represents a $1.08 annualized dividend and a dividend yield of 3.72%. Arrow Financial’s dividend payout ratio is currently 62.79%.
Insiders Place Their Bets
In other news, Director Raymond F. O’conor sold 2,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $28.13, for a total transaction of $56,260.00. Following the completion of the sale, the director now directly owns 45,176 shares in the company, valued at $1,270,800.88. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 3.55% of the company’s stock.
Hedge Funds Weigh In On Arrow Financial
Several institutional investors have recently modified their holdings of AROW. Adirondack Trust Co. boosted its position in Arrow Financial by 3.0% in the fourth quarter. Adirondack Trust Co. now owns 21,984 shares of the financial services provider’s stock worth $614,000 after purchasing an additional 635 shares during the last quarter. ClariVest Asset Management LLC raised its stake in shares of Arrow Financial by 2.8% during the 2nd quarter. ClariVest Asset Management LLC now owns 37,247 shares of the financial services provider’s stock worth $970,000 after purchasing an additional 1,017 shares during the period. GAMMA Investing LLC purchased a new position in shares of Arrow Financial in the 4th quarter worth about $29,000. Rhumbline Advisers grew its position in Arrow Financial by 6.4% during the second quarter. Rhumbline Advisers now owns 24,650 shares of the financial services provider’s stock valued at $642,000 after buying an additional 1,485 shares during the period. Finally, Empowered Funds LLC increased its holdings in Arrow Financial by 7.7% during the first quarter. Empowered Funds LLC now owns 26,764 shares of the financial services provider’s stock worth $670,000 after buying an additional 1,925 shares during the last quarter. 46.71% of the stock is owned by institutional investors.
About Arrow Financial
(Get 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 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.
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