Arrow Financial (NASDAQ:AROW) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Arrow Financial (NASDAQ:AROW) released its quarterly earnings data on Tuesday. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02), Yahoo Finance reports. Arrow Financial had a return on equity of 7.95% and a net margin of 14.34%. The company had revenue of $54.54 million for the quarter, compared to analyst estimates of $33.29 million.

Arrow Financial Trading Up 0.1 %

NASDAQ AROW traded up $0.03 on Thursday, hitting $23.31. The company’s stock had a trading volume of 6,868 shares, compared to its average volume of 40,371. The company’s 50-day moving average is $23.67 and its 200 day moving average is $24.52. The firm has a market cap of $389.04 million, a PE ratio of 13.54 and a beta of 0.72. Arrow Financial has a 1-year low of $16.65 and a 1-year high of $29.66. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.07.

Arrow Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 13th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend is Friday, May 10th. Arrow Financial’s payout ratio is 62.81%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AROW. Hovde Group started coverage on shares of Arrow Financial in a report on Tuesday, January 9th. They set a “market perform” rating for the company. StockNews.com cut Arrow Financial from a “hold” rating to a “sell” rating in a report on Wednesday.

Arrow Financial Company Profile

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