Dimensional Fund Advisors LP Has $21.15 Million Stake in Arrow Financial Co. (NASDAQ:AROW)

Dimensional Fund Advisors LP lifted its holdings in shares of Arrow Financial Co. (NASDAQ:AROW - Free Report) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 736,569 shares of the financial services provider's stock after purchasing an additional 12,798 shares during the quarter. Dimensional Fund Advisors LP owned 4.40% of Arrow Financial worth $21,147,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in Arrow Financial during the 4th quarter worth approximately $1,072,000. American Century Companies Inc. boosted its stake in Arrow Financial by 4.3% in the 4th quarter. American Century Companies Inc. now owns 304,964 shares of the financial services provider's stock worth $8,756,000 after purchasing an additional 12,581 shares during the period. Citizens Financial Group Inc. RI bought a new position in Arrow Financial during the 4th quarter worth about $319,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Arrow Financial by 42.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 78,548 shares of the financial services provider's stock valued at $2,255,000 after purchasing an additional 23,498 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Arrow Financial by 251.9% in the third quarter. Barclays PLC now owns 21,411 shares of the financial services provider's stock valued at $614,000 after purchasing an additional 15,327 shares in the last quarter. Institutional investors own 46.71% of the company's stock.

Arrow Financial Stock Performance

AROW opened at $25.58 on Thursday. The business's 50-day simple moving average is $25.37 and its 200 day simple moving average is $27.89. Arrow Financial Co. has a 52-week low of $22.72 and a 52-week high of $34.63. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $426.44 million, a PE ratio of 14.45 and a beta of 0.78.

Arrow Financial (NASDAQ:AROW - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $0.38 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.06). Arrow Financial had a net margin of 13.32% and a return on equity of 8.59%. The company had revenue of $50.37 million during the quarter, compared to analyst estimates of $39.26 million. As a group, sell-side analysts expect that Arrow Financial Co. will post 2.65 earnings per share for the current fiscal year.

Arrow Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th will be issued a $0.28 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.38%. Arrow Financial's payout ratio is 65.88%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AROW. StockNews.com raised Arrow Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 2nd. Piper Sandler cut their price objective on shares of Arrow Financial from $30.00 to $28.00 and set a "neutral" rating on the stock in a research report on Monday.

Insider Activity at Arrow Financial

In other Arrow Financial news, Director Raymond F. O'conor sold 2,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $26.90, for a total value of $53,800.00. Following the sale, the director now owns 33,022 shares in the company, valued at $888,291.80. This represents a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders sold 6,000 shares of company stock worth $153,240. Insiders own 3.55% of the company's stock.

Arrow Financial Company 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.

Want to see what other hedge funds are holding AROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arrow Financial Co. (NASDAQ:AROW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.