JPMorgan Chase & Co. Has $1.62 Million Stock Holdings in Arrow Financial Co. (NASDAQ:AROW)

JPMorgan Chase & Co. increased its position in shares of Arrow Financial Co. (NASDAQ:AROW - Free Report) by 202.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,571 shares of the financial services provider's stock after buying an additional 37,869 shares during the period. JPMorgan Chase & Co. owned 0.34% of Arrow Financial worth $1,624,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC lifted its position in Arrow Financial by 18.5% in the fourth quarter. SG Americas Securities LLC now owns 6,765 shares of the financial services provider's stock worth $194,000 after purchasing an additional 1,056 shares during the period. Citizens Financial Group Inc. RI bought a new position in shares of Arrow Financial during the fourth quarter valued at $319,000. Atria Investments Inc boosted its stake in shares of Arrow Financial by 17.3% in the 4th quarter. Atria Investments Inc now owns 19,768 shares of the financial services provider's stock valued at $568,000 after purchasing an additional 2,912 shares in the last quarter. Barclays PLC grew its holdings in shares of Arrow Financial by 251.9% in the 3rd quarter. Barclays PLC now owns 21,411 shares of the financial services provider's stock worth $614,000 after purchasing an additional 15,327 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its position in shares of Arrow Financial by 5.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 25,429 shares of the financial services provider's stock worth $730,000 after purchasing an additional 1,294 shares in the last quarter. Institutional investors and hedge funds own 46.71% of the company's stock.

Insider Transactions at Arrow Financial

In related news, Director Raymond F. O'conor sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $25.94, for a total transaction of $51,880.00. Following the completion of the transaction, the director now owns 31,022 shares in the company, valued at approximately $804,710.68. The trade was a 6.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel James White bought 3,668 shares of the business's stock in a transaction on Friday, January 31st. The stock was purchased at an average price of $27.23 per share, for a total transaction of $99,879.64. Following the completion of the acquisition, the director now owns 4,338 shares of the company's stock, valued at approximately $118,123.74. This trade represents a 547.46 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 6,000 shares of company stock worth $156,240 in the last three months. Insiders own 3.55% of the company's stock.

Arrow Financial Stock Performance

Shares of AROW remained flat at $24.53 during trading hours on Thursday. The stock had a trading volume of 7,970 shares, compared to its average volume of 42,331. The firm has a fifty day simple moving average of $25.52 and a two-hundred day simple moving average of $28.03. The stock has a market capitalization of $410.09 million, a price-to-earnings ratio of 13.86 and a beta of 0.71. Arrow Financial Co. has a twelve month low of $22.08 and a twelve month high of $34.63. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06.

Arrow Financial (NASDAQ:AROW - Get Free Report) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.24). Arrow Financial had a net margin of 13.32% and a return on equity of 8.59%. As a group, equities research analysts expect that Arrow Financial Co. will post 2.65 earnings per share for the current fiscal year.

Arrow Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.57%. Arrow Financial's dividend payout ratio (DPR) is currently 63.28%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Piper Sandler dropped their price objective on shares of Arrow Financial from $32.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday, February 4th. StockNews.com downgraded Arrow Financial from a "hold" rating to a "sell" rating in a research report on Thursday, April 17th.

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.