Strs Ohio Cuts Position in Arrow Financial Co. (NASDAQ:AROW)

Strs Ohio lessened its position in shares of Arrow Financial Co. (NASDAQ:AROW) by 57.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,000 shares of the financial services provider’s stock after selling 1,369 shares during the quarter. Strs Ohio’s holdings in Arrow Financial were worth $27,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AROW. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Arrow Financial in the 4th quarter valued at approximately $53,000. Financial Counselors Inc. lifted its stake in shares of Arrow Financial by 3.0% in the 3rd quarter. Financial Counselors Inc. now owns 17,612 shares of the financial services provider’s stock valued at $300,000 after purchasing an additional 510 shares during the last quarter. Trust Co. of Vermont lifted its stake in shares of Arrow Financial by 3.0% during the 3rd quarter. Trust Co. of Vermont now owns 39,105 shares of the financial services provider’s stock worth $666,000 after acquiring an additional 1,137 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Arrow Financial by 22.1% during the 4th quarter. SG Americas Securities LLC now owns 8,033 shares of the financial services provider’s stock worth $224,000 after acquiring an additional 1,454 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in shares of Arrow Financial by 5.1% during the 3rd quarter. HighTower Advisors LLC now owns 15,982 shares of the financial services provider’s stock worth $273,000 after acquiring an additional 770 shares during the last quarter. Hedge funds and other institutional investors own 46.71% of the company’s stock.

Arrow Financial Trading Up 0.6 %

Shares of NASDAQ AROW opened at $23.42 on Friday. 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 business has a fifty day simple moving average of $23.65 and a two-hundred day simple moving average of $24.52. The firm has a market cap of $390.88 million, a PE ratio of 13.62 and a beta of 0.72. Arrow Financial Co. has a twelve month low of $16.65 and a twelve month high of $29.66.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). Arrow Financial had a net margin of 14.34% and a return on equity of 7.95%. The company had revenue of $54.54 million during the quarter, compared to analysts’ expectations of $33.29 million. Analysts expect that Arrow Financial Co. will post 2.33 earnings per share for the current fiscal year.

Arrow Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 13th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, May 10th. This represents a $1.08 annualized dividend and a yield of 4.61%. Arrow Financial’s dividend payout ratio (DPR) is 62.81%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AROW shares. StockNews.com lowered Arrow Financial from a “hold” rating to a “sell” rating in a research note on Wednesday. Hovde Group started coverage on Arrow Financial in a research note on Tuesday, January 9th. They set a “market perform” rating for the company.

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.