Angel Oak Capital Advisors LLC Invests $289,000 in Arrow Financial Corporation (NASDAQ:AROW)

Key Points

• Angel Oak Capital Advisors LLC invested approximately $289,000 in Arrow Financial Corporation, acquiring 11,000 shares of the company, which represents about 0.07% of its total stock.
• Arrow Financial recently announced a quarterly dividend of $0.29, marking an increase from the previous $0.28 dividend, resulting in an annualized yield of 4.2%.
• The company's earnings report showed $0.70 earnings per share, surpassing analyst expectations, with revenue reaching $51.57 million for the quarter.

Angel Oak Capital Advisors LLC purchased a new position in shares of Arrow Financial Corporation (NASDAQ:AROW - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,000 shares of the financial services provider's stock, valued at approximately $289,000. Angel Oak Capital Advisors LLC owned approximately 0.07% of Arrow Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in AROW. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Arrow Financial by 4.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,406 shares of the financial services provider's stock worth $270,000 after purchasing an additional 436 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in Arrow Financial by 0.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 117,355 shares of the financial services provider's stock worth $3,369,000 after buying an additional 488 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Arrow Financial by 130.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,241 shares of the financial services provider's stock worth $36,000 after buying an additional 703 shares during the last quarter. MetLife Investment Management LLC raised its position in Arrow Financial by 9.4% in the 4th quarter. MetLife Investment Management LLC now owns 10,076 shares of the financial services provider's stock worth $289,000 after buying an additional 866 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Arrow Financial by 19.4% during the 4th quarter. Wells Fargo & Company MN now owns 11,563 shares of the financial services provider's stock valued at $332,000 after purchasing an additional 1,881 shares during the last quarter. 46.71% of the stock is owned by hedge funds and other institutional investors.

Arrow Financial Stock Performance

AROW traded up $0.04 during trading on Monday, hitting $27.51. 32,354 shares of the stock were exchanged, compared to its average volume of 35,002. The firm has a market capitalization of $458.59 million, a P/E ratio of 15.03 and a beta of 0.82. Arrow Financial Corporation has a 1-year low of $22.72 and a 1-year high of $34.63. The stock has a fifty day moving average price of $26.56 and a two-hundred day moving average price of $26.16. 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 posted its earnings results on Thursday, July 24th. The financial services provider reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.08. Arrow Financial had a return on equity of 8.69% and a net margin of 13.28%. The company had revenue of $51.57 million for the quarter, compared to the consensus estimate of $39.83 million. As a group, sell-side analysts predict that Arrow Financial Corporation will post 2.65 earnings per share for the current year.

Arrow Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Monday, August 11th will be issued a dividend of $0.29 per share. The ex-dividend date is Monday, August 11th. This represents a $1.16 annualized dividend and a yield of 4.2%. This is a boost from Arrow Financial's previous quarterly dividend of $0.28. Arrow Financial's dividend payout ratio (DPR) is presently 61.20%.

Insider Transactions at Arrow Financial

In other Arrow Financial news, CFO Penko Krassimir Ivanov bought 1,425 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were purchased at an average price of $26.50 per share, with a total value of $37,762.50. Following the purchase, the chief financial officer directly owned 7,709 shares of the company's stock, valued at approximately $204,288.50. The trade was a 22.68% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 3.28% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AROW has been the subject of a number of research analyst reports. Piper Sandler cut their price objective 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 upgraded Arrow Financial from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Hovde Group lifted their target price on Arrow Financial from $27.50 to $28.50 and gave the stock a "market perform" rating in a research report on Friday, July 25th.

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.