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

Zacks Investment Research cut shares of Arrow Financial (NASDAQ:AROW) from a hold rating to a sell rating in a report 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. “

AROW has been the topic of several other reports. ValuEngine lowered shares of Arrow Financial from a hold rating to a sell rating in a research report on Wednesday, March 4th. BidaskClub lowered shares of Arrow Financial from a hold rating to a sell rating in a research report on Wednesday, March 11th. Finally, TheStreet downgraded shares of Arrow Financial from a b rating to a c+ rating in a report on Wednesday, March 18th.

NASDAQ AROW traded down $2.41 on Wednesday, hitting $25.85. 35,253 shares of the stock were exchanged, compared to its average volume of 51,410. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.91 and a quick ratio of 0.91. The business’s fifty day moving average is $31.28 and its 200 day moving average is $34.43. Arrow Financial has a 52 week low of $20.78 and a 52 week high of $38.31. The company has a market capitalization of $424.31 million, a PE ratio of 10.32 and a beta of 0.65.

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

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

Large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Arrow Financial in the fourth quarter valued at $48,000. Great West Life Assurance Co. Can acquired a new position in shares of Arrow Financial in the fourth quarter valued at $57,000. SG Americas Securities LLC acquired a new position in shares of Arrow Financial in the fourth quarter valued at $106,000. Bank of Montreal Can grew its stake in shares of Arrow Financial by 56.2% in the fourth quarter. Bank of Montreal Can now owns 2,911 shares of the financial services provider’s stock valued at $110,000 after acquiring an additional 1,047 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Arrow Financial by 54.7% in the fourth quarter. Victory Capital Management Inc. now owns 3,863 shares of the financial services provider’s stock valued at $146,000 after acquiring an additional 1,366 shares in the last quarter. Hedge funds and other institutional investors own 42.47% of the company’s stock.

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

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