Arrow Financial (AROW) Lowered to “Sell” at BidaskClub
BidaskClub downgraded shares of Arrow Financial (NASDAQ:AROW) from a hold rating to a sell rating in a report published on Wednesday, January 3rd.
Shares of Arrow Financial (NASDAQ:AROW) opened at $33.60 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $472.60, a P/E ratio of 17.01 and a beta of 0.66. Arrow Financial has a 52-week low of $30.70 and a 52-week high of $38.60.
Arrow Financial declared that its Board of Directors has authorized a stock repurchase program on Friday, October 27th that allows the company to repurchase $5.00 million in shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.
Institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. purchased a new position in Arrow Financial in the third quarter worth approximately $113,000. Schroder Investment Management Group lifted its stake in Arrow Financial by 49.5% during the second quarter. Schroder Investment Management Group now owns 3,608 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 1,194 shares in the last quarter. Maple Capital Management Inc. acquired a new position in Arrow Financial during the third quarter worth $216,000. Goldman Sachs Group Inc. acquired a new position in Arrow Financial during the second quarter worth $216,000. Finally, Bradley Foster & Sargent Inc. CT acquired a new position in Arrow Financial during the second quarter worth $269,000. Institutional investors own 39.97% of the company’s stock.
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Arrow Financial Company Profile
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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