BidaskClub Upgrades Arrow Financial (NASDAQ:AROW) to “Buy”
Arrow Financial (NASDAQ:AROW) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Friday, June 22nd.
NASDAQ AROW opened at $36.40 on Friday. The stock has a market capitalization of $515.47 million, a PE ratio of 17.13 and a beta of 0.58. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.26. Arrow Financial has a 1-year low of $30.70 and a 1-year high of $38.60.
Arrow Financial (NASDAQ:AROW) last announced its earnings results on Monday, April 23rd. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.04. Arrow Financial had a return on equity of 12.21% and a net margin of 27.17%. The company had revenue of $27.29 million for the quarter.
A number of large investors have recently bought and sold shares of AROW. Dimensional Fund Advisors LP raised its position in Arrow Financial by 4.6% during the first quarter. Dimensional Fund Advisors LP now owns 593,721 shares of the financial services provider’s stock valued at $20,157,000 after buying an additional 26,215 shares during the period. Martingale Asset Management L P increased its holdings in shares of Arrow Financial by 65.4% during the 4th quarter. Martingale Asset Management L P now owns 43,783 shares of the financial services provider’s stock valued at $1,487,000 after acquiring an additional 17,306 shares during the last quarter. Maltese Capital Management LLC acquired a new position in shares of Arrow Financial during the 1st quarter valued at about $509,000. MetLife Investment Advisors LLC acquired a new position in shares of Arrow Financial during the 4th quarter valued at about $210,000. Finally, California Public Employees Retirement System boosted its stake in Arrow Financial by 11.6% during the 4th quarter. California Public Employees Retirement System now owns 44,173 shares of the financial services provider’s stock valued at $1,500,000 after purchasing an additional 4,600 shares during the period. 39.38% of the stock is currently owned by hedge funds and other institutional investors.
About Arrow Financial
Arrow Financial Corporation, a multi-bank holding company, provides commercial and consumer banking, and financial products and services. Its deposit products include demand deposits, interest-bearing checking accounts, savings deposits, time deposits, and other time deposits. The company's 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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