AROW - Why Arrow Financial Stock Is Shooting Higher This Week
2023-10-27 09:19:25 ET
Arrow Financial (NASDAQ: AROW) stock is posting strong gains this week. The company's share price was up 14.9% from last week's market close before the market opened this Friday, according to data from S&P Global Market Intelligence .
On Oct. 24, Arrow Financial published third-quarter results that beat the company's expectations. Two days later, the regional bank issued a press release announcing that it was resuming its dividend-reinvestment plan and expanding its stock-buyback initiative.
Arrow saw its total loans rise 9% year over year to reach $3.1 billion at the end of the third quarter. Total assets at the end of the period were $4.3 billion. Net income declined to $7.7 million from $12.2 million in the prior-year period due to higher interest expenses, but it was up $1.7 million on a sequential quarterly basis.
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Why Arrow Financial Stock Is Shooting Higher This Week