Arrow Financial Co. (NASDAQ:AROW) Sees Significant Drop in Short Interest

Arrow Financial Co. (NASDAQ:AROW) experienced a notable decrease in short interest during January. As of January 15th, the total short interest stood at 105,500 shares, reflecting a drop of 15.2% from December 31st's figure of 124,400 shares. With an average daily trading volume of 43,500 shares, the current days-to-cover ratio is 2.4 days.

Wall Street Analysts' Perspectives

The stock has been featured in various research reports from analysts. Hovde Group lowered its target price for Arrow Financial from $34.50 to $32.00, maintaining a "market perform" rating as stated in their report on December 27th. Additionally, Piper Sandler initiated coverage of Arrow Financial on December 20th, assigning a "neutral" rating and a $32.00 target price.

Recent Insider Activity

In related news, Director Raymond F. O'Conor sold 2,000 shares of Arrow Financial on December 2nd, at an average price of $32.69, amounting to a total of $65,380. Following this transaction, he holds 37,859 shares worth approximately $1,237,610.71, marking a decrease of 5.02% in his position. This sale was disclosed in a filing with the SEC. Over the last three months, insiders sold a total of 6,000 shares worth $180,080. Corporate insiders now own 3.55% of the company’s stock.

Hedge Fund Activity

Several institutional investors have adjusted their positions in Arrow Financial recently. Arrow Financial Corp increased its stake by 1.2% in the 3rd quarter and now holds 1,969,793 shares worth about $56,454,000 after acquiring 23,198 additional shares. Dimensional Fund Advisors LP raised its holdings by 4.7% during the 2nd quarter, now owning 700,253 shares valued at $18,241,000 after a purchase of 31,268 shares. State Street Corp also raised its stake by 0.3% during the third quarter, now holding 393,719 shares valued at $11,284,000. Other notable increases include Hotchkis & Wiley Capital Management LLC with a 0.9% increase and Rockefeller Capital Management L.P. with a 0.4% increase. Overall, hedge funds and institutional investors own 46.71% of Arrow Financial’s shares.

Stock Performance Overview

Recently, AROW's stock traded down by $0.45, closing at $26.61. The trading volume for the day was 44,507 shares, which is higher than its average of 35,430. The stock's fifty-day simple moving average is $29.23, while the 200-day average is $29.49, with a market capitalization of $445.45 million. Arrow Financial's PE ratio sits at 13.58, and it has a beta of 0.77. The stock has seen a 1-year low of $21.50 and a high of $34.63. Its quick and current ratios are both at 0.93, with a debt-to-equity ratio of just 0.06.

Upcoming Dividend Announcement

Arrow Financial recently increased its dividend, announcing a $0.28 dividend that will be paid on February 24th. Shareholders of record on February 11th will be eligible for the dividend, which represents an increase from the previous dividend of $0.25. This gives a yield of 4.21%, and the payout ratio stands at 57.14%.

Company Overview

Arrow Financial Corporation is a bank holding company that provides a range of commercial and consumer banking services, as well as financial products. Its available deposit products include various types of accounts and deposits. The lending aspect includes commercial loans such as term loans, lines of credit, and real estate financing.

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