Squarepoint Ops LLC Makes New Investment in Arrow Financial Co. (NASDAQ:AROW)

Squarepoint Ops LLC purchased a new position in shares of Arrow Financial Co. (NASDAQ:AROW - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 27,879 shares of the financial services provider's stock, valued at approximately $800,000. Squarepoint Ops LLC owned 0.17% of Arrow Financial as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in Arrow Financial by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 736,569 shares of the financial services provider's stock valued at $21,147,000 after purchasing an additional 12,798 shares during the last quarter. American Century Companies Inc. grew its holdings 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 valued at $8,756,000 after buying an additional 12,581 shares during the period. Rhino Investment Partners Inc acquired a new position in shares of Arrow Financial during the 4th quarter valued at about $5,458,000. Voya Investment Management LLC increased its stake in shares of Arrow Financial by 15.5% during the 4th quarter. Voya Investment Management LLC now owns 178,680 shares of the financial services provider's stock valued at $5,130,000 after acquiring an additional 24,036 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Arrow Financial by 1.6% during the 4th quarter. Northern Trust Corp now owns 148,921 shares of the financial services provider's stock worth $4,276,000 after acquiring an additional 2,296 shares during the period. Hedge funds and other institutional investors own 46.71% of the company's stock.

Insider Buying and Selling at Arrow Financial

In other Arrow Financial news, Director Raymond F. O'conor sold 2,000 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $23.78, for a total value of $47,560.00. Following the transaction, the director now owns 29,293 shares in the company, valued at $696,587.54. The trade was a 6.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Piper Sandler lowered their target price on shares of Arrow Financial from $30.00 to $28.00 and set a "neutral" rating for the company in a report on Monday, May 5th. Wall Street Zen cut shares of Arrow Financial from a "hold" rating to a "sell" rating in a research report on Friday.

Arrow Financial Stock Up 0.5%

NASDAQ AROW traded up $0.12 during trading hours on Tuesday, hitting $25.53. The company had a trading volume of 55,338 shares, compared to its average volume of 42,380. The firm's 50 day moving average is $25.36 and its 200 day moving average is $27.28. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.93 and a quick ratio of 0.93. Arrow Financial Co. has a fifty-two week low of $22.72 and a fifty-two week high of $34.63. The company has a market capitalization of $425.71 million, a price-to-earnings ratio of 14.42 and a beta of 0.78.

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

Arrow Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date was Tuesday, May 13th. Arrow Financial's dividend payout ratio is presently 65.88%.

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.