Arrow Financial Corp Purchases 23,198 Shares of Arrow Financial Co. (NASDAQ:AROW)

Arrow Financial Corp boosted its holdings in Arrow Financial Co. (NASDAQ:AROW) by 1.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,969,793 shares of the financial services provider’s stock after purchasing an additional 23,198 shares during the quarter. Arrow Financial comprises approximately 5.2% of Arrow Financial Corp’s investment portfolio, making the stock its 3rd largest holding. Arrow Financial Corp owned about 0.12% of Arrow Financial worth $56,454,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Acadian Asset Management LLC bought a new position in shares of Arrow Financial in the first quarter valued at approximately $157,000. SG Americas Securities LLC purchased a new stake in Arrow Financial in the 3rd quarter valued at $164,000. BNP Paribas Financial Markets lifted its stake in Arrow Financial by 90.9% during the 1st quarter. BNP Paribas Financial Markets now owns 7,263 shares of the financial services provider’s stock valued at $182,000 after acquiring an additional 3,459 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new position in Arrow Financial during the 1st quarter valued at $201,000. Finally, IFG Advisory LLC bought a new stake in shares of Arrow Financial in the 2nd quarter worth $207,000. Institutional investors own 46.71% of the company’s stock.

Insiders Place Their Bets

In other news, Director Raymond F. O’conor sold 2,000 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $28.50, for a total transaction of $57,000.00. Following the transaction, the director now owns 39,496 shares of the company’s stock, valued at $1,125,636. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 8,000 shares of company stock valued at $229,520 over the last ninety days. 3.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

Arrow Financial Price Performance

Shares of NASDAQ:AROW opened at $33.00 on Friday. The company has a market capitalization of $552.09 million, a P/E ratio of 16.84 and a beta of 0.72. The company’s 50-day moving average is $29.00 and its 200 day moving average is $27.34. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.92 and a current ratio of 0.92. Arrow Financial Co. has a fifty-two week low of $21.50 and a fifty-two week high of $33.49.

Arrow Financial (NASDAQ:AROW) last released its earnings results on Thursday, October 31st. The financial services provider reported $0.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.53. Arrow Financial had a net margin of 15.00% and a return on equity of 8.67%. The firm 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. Shareholders of record on Tuesday, October 15th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 3.39%. This is a positive change from Arrow Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, October 15th. Arrow Financial’s dividend payout ratio is 57.14%.

Arrow Financial Profile

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.