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

Arrow Financial Co. (NASDAQ:AROW) experienced a notable reduction in short interest during January. As of January 15th, the total short interest stood at 105,500 shares, which is a decrease of 15.2% from the prior month’s total of 124,400 shares recorded on December 31st. Based on an average daily trading volume of 43,500 shares, the current days-to-cover ratio is estimated to be 2.4 days.

Wall Street Analysts Provide Insights

Various research firms have recently evaluated Arrow Financial. Hovde Group lowered their price target for Arrow Financial from $34.50 to $32.00 while maintaining a "market perform" rating in a research update issued on December 27th. Additionally, Piper Sandler initiated coverage on Arrow Financial on December 20th, assigning a "neutral" rating with a target price of $32.00.

Insider Activity at Arrow Financial

In related news, Director Raymond F. O'conor sold 2,000 shares of the company's stock in a transaction on December 2nd, receiving an average sale price of $32.69, which amounted to a total of $65,380. Following this sale, O'conor holds 37,859 shares valued at around $1,237,610.71, marking a decrease of 5.02% in his holdings. This sale was filed with the SEC and is publicly accessible. In recent months, insiders have sold a total of 6,000 shares, valued at $180,080. Currently, corporate insiders own 3.55% of the company’s stock.

Investors Adjusting Positions

Several large investors have recently changed their stake in Arrow Financial. Arrow Financial Corp increased its holdings by 1.2% in the third quarter, now owning 1,969,793 shares worth $56,454,000 after purchasing an additional 23,198 shares. Dimensional Fund Advisors LP also raised its stake by 4.7% in the second quarter, now owning 700,253 shares valued at $18,241,000 after acquiring 31,268 shares. Other investors like State Street Corp and Hotchkis & Wiley Capital Management LLC have also slightly adjusted their positions. Collectively, hedge funds and institutional investors own 46.71% of Arrow Financial shares.

Arrow Financial Stock Performance Overview

On the trading day of the report, AROW dropped $0.45, bringing the share price to $26.61, with a trading volume of 44,507 shares, surpassing the average volume of 35,430. The stock's fifty-day simple moving average stands at $29.23, while the 200-day moving average is $29.49. Arrow Financial holds a market capitalization of $445.45 million, with a P/E ratio of 13.58, and a beta of 0.77. Over the past year, the stock has fluctuated, hitting a low of $21.50 and a high of $34.63. The company maintains a quick ratio of 0.93, a current ratio of 0.93, and a debt-to-equity ratio of 0.06.

Dividend Announcement from Arrow Financial

Recently, Arrow Financial declared a dividend to be paid on February 24th. Shareholders on record as of February 11th will receive a dividend of $0.28, up from the previous dividend of $0.25. This indicates a yield of 4.21%, with a payout ratio of 57.14%.

Company Background of Arrow Financial

Arrow Financial Corporation is a bank holding company that offers commercial and consumer banking along with financial products and services. Their deposit offerings include various accounts like demand deposits, checking accounts, savings deposits, and time deposits. Lending options provided by the company cover commercial loans, such as term loans and lines of credit, as well as commercial real estate loans for purchasing and refinancing properties.

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