Arrow Financial Co. (NASDAQ:AROW) Shares Acquired by Arrow Financial Corp

Arrow Financial Corp increased its holdings in shares of Arrow Financial Co. (NASDAQ:AROW) by 1.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,969,793 shares of the financial services provider’s stock after buying an additional 23,198 shares during the quarter. Arrow Financial accounts for about 5.2% of Arrow Financial Corp’s holdings, making the stock its 3rd biggest holding. Arrow Financial Corp owned approximately 11.77% of Arrow Financial worth $56,454,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of AROW. BNP Paribas Financial Markets boosted its position in Arrow Financial by 90.9% in the first quarter. BNP Paribas Financial Markets now owns 7,263 shares of the financial services provider’s stock valued at $182,000 after buying an additional 3,459 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Arrow Financial by 7.7% during the 1st quarter. Empowered Funds LLC now owns 26,764 shares of the financial services provider’s stock valued at $670,000 after acquiring an additional 1,925 shares in the last quarter. ClariVest Asset Management LLC grew its position in Arrow Financial by 19.7% during the 1st quarter. ClariVest Asset Management LLC now owns 36,230 shares of the financial services provider’s stock worth $906,000 after acquiring an additional 5,952 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new position in Arrow Financial in the 1st quarter worth about $201,000. Finally, Vanguard Group Inc. raised its position in Arrow Financial by 1.4% in the first quarter. Vanguard Group Inc. now owns 795,274 shares of the financial services provider’s stock valued at $19,898,000 after purchasing an additional 10,636 shares during the last quarter. 46.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Arrow Financial news, Director Raymond F. O’conor sold 2,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $28.04, for a total transaction of $56,080.00. Following the sale, the director now owns 41,176 shares of the company’s stock, valued at approximately $1,154,575.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold 8,000 shares of company stock valued at $229,520 over the last quarter. Insiders own 3.55% of the company’s stock.

Arrow Financial Stock Up 3.0 %

Shares of AROW opened at $33.00 on Friday. The company has a market capitalization of $552.09 million, a PE ratio of 16.84 and a beta of 0.72. The stock’s 50-day moving average price is $29.00 and its two-hundred day moving average price is $27.34. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.07. Arrow Financial Co. has a 12 month low of $21.50 and a 12 month high of $33.49.

Arrow Financial (NASDAQ:AROW) last announced its earnings results on Thursday, October 31st. The financial services provider reported $0.53 EPS for the quarter, meeting the consensus estimate of $0.53. Arrow Financial had a return on equity of 8.67% and a net margin of 15.00%. The business had revenue of $57.58 million for the quarter.

Arrow Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Tuesday, October 15th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This is a boost from Arrow Financial’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 3.39%. Arrow Financial’s dividend payout ratio is 57.14%.

Analysts Set New Price Targets

Several analysts have recently weighed in on AROW shares. Hovde Group assumed coverage on Arrow Financial in a report on Monday, September 9th. They set a “market perform” rating and a $31.00 price target on the stock. StockNews.com upgraded shares of Arrow Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th.

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.