Arrow Financial (NASDAQ:AROW) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research lowered shares of Arrow Financial (NASDAQ:AROW) from a hold rating to a sell rating in a research note published on Wednesday morning, Zacks.com reports.

According to Zacks, “Arrow Financial Corporation is registered as a bank holding company. They own two nationally chartered banks, Glens Falls National Bank and Trust Company, and Saratoga National Bank and Trust Company, as well as two non-bank subsidiaries, the operations of which are not significant. They own directly or indirectly all voting stock of all its subsidiaries. The business of the Company consists primarily of the ownership, supervision and control of its bank subsidiaries. “

A number of other equities research analysts also recently issued reports on the stock. ValuEngine downgraded shares of Arrow Financial from a hold rating to a sell rating in a research note on Wednesday, March 4th. BidaskClub downgraded shares of Arrow Financial from a hold rating to a sell rating in a research note on Wednesday, March 11th. Finally, TheStreet downgraded shares of Arrow Financial from a b rating to a c+ rating in a research note on Wednesday, March 18th.

Arrow Financial stock traded down $2.41 during trading hours on Wednesday, reaching $25.85. 35,253 shares of the stock were exchanged, compared to its average volume of 51,410. The company has a market cap of $424.31 million, a P/E ratio of 10.32 and a beta of 0.65. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.61. Arrow Financial has a twelve month low of $20.78 and a twelve month high of $38.31. The stock has a 50 day moving average of $31.28 and a two-hundred day moving average of $34.43.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter. The firm had revenue of $30.00 million for the quarter. Arrow Financial had a net margin of 27.09% and a return on equity of 12.98%. On average, analysts expect that Arrow Financial will post 2.43 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd were paid a $0.26 dividend. The ex-dividend date was Monday, March 2nd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.02%. Arrow Financial’s payout ratio is currently 41.60%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wealth Quarterback LLC bought a new position in Arrow Financial in the 4th quarter valued at approximately $4,274,410,000. State Street Corp raised its holdings in Arrow Financial by 10.8% in the 4th quarter. State Street Corp now owns 336,393 shares of the financial services provider’s stock valued at $12,716,000 after buying an additional 32,758 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Arrow Financial by 5.7% in the 4th quarter. Renaissance Technologies LLC now owns 399,270 shares of the financial services provider’s stock valued at $15,092,000 after buying an additional 21,447 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Arrow Financial by 83.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 44,539 shares of the financial services provider’s stock valued at $1,683,000 after buying an additional 20,322 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new position in Arrow Financial in the 4th quarter valued at approximately $719,000. Institutional investors own 42.47% of the company’s stock.

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

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