Raymond F. O'Conor, a director at Arrow Financial Corp (NASDAQ:AROW), has sold 2,000 shares of the company's common stock. The transaction was executed on November 4, 2024, at a price of $28.50 per share, amounting to a total sale value of $57,000. Following this sale, O'Conor retains ownership of 39,496 shares in the company. The sale was conducted as part of a pre-established 10b5-1 trading plan, which O'Conor set up in May 2024.
InvestingPro Insights
While Raymond F. O'Conor's recent sale of Arrow Financial Corp (NASDAQ:AROW) shares may raise questions, it's important to consider the broader financial context of the company. According to InvestingPro data, Arrow Financial Corp has a market capitalization of $483.77 million and a P/E ratio of 14.75, suggesting a relatively modest valuation compared to some peers in the financial sector.
One of the standout InvestingPro Tips for Arrow Financial Corp is its impressive dividend history. The company has raised its dividend for 32 consecutive years, demonstrating a strong commitment to shareholder returns. This is further supported by a current dividend yield of 3.89%, which may be attractive to income-focused investors.
Another notable InvestingPro Tip highlights that Arrow Financial Corp has experienced a large price uptick over the last six months. Indeed, the data shows a 25.61% price total return over the past six months, indicating positive momentum in the stock despite the insider sale.
It's worth noting that InvestingPro offers 7 additional tips for Arrow Financial Corp, providing a more comprehensive analysis for investors seeking deeper insights into the company's financial health and prospects.
While O'Conor's sale was part of a pre-established trading plan, potential investors might want to consider these broader financial metrics and trends when evaluating Arrow Financial Corp's stock. The company's consistent dividend growth and recent price performance suggest underlying strength that extends beyond individual insider transactions.
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