Arrow Financial Co. (NASDAQ:AROW – Get Free Report) announced a quarterly dividend on Tuesday, April 30th, Zacks reports. Shareholders of record on Monday, May 13th will be given a dividend of 0.27 per share by the financial services provider on Friday, May 24th. This represents a $1.08 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend is Friday, May 10th.
Arrow Financial has increased its dividend payment by an average of 4.3% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Arrow Financial has a dividend payout ratio of 41.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Arrow Financial to earn $2.71 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 39.9%.
Arrow Financial Stock Performance
AROW stock opened at $23.92 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $399.27 million, a price-to-earnings ratio of 13.91 and a beta of 0.72. Arrow Financial has a 12 month low of $16.65 and a 12 month high of $29.66. The firm has a 50 day moving average of $23.62 and a two-hundred day moving average of $24.71.
Analyst Upgrades and Downgrades
Separately, StockNews.com raised shares of Arrow Financial from a “sell” rating to a “hold” rating in a report on Thursday.
Read Our Latest Analysis on AROW
About Arrow Financial
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.
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