Arrow Financial Corp trimmed its position in Arrow Financial Corporation (NASDAQ:AROW - Free Report) by 0.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,887,250 shares of the financial services provider's stock after selling 12,319 shares during the quarter. Arrow Financial makes up approximately 5.5% of Arrow Financial Corp's portfolio, making the stock its 4th largest position. Arrow Financial Corp owned approximately 11.32% of Arrow Financial worth $49,616,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its stake in Arrow Financial by 130.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,241 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 703 shares during the last quarter. State of Tennessee Department of Treasury acquired a new stake in Arrow Financial in the fourth quarter valued at approximately $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Arrow Financial by 4.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,406 shares of the financial services provider's stock valued at $270,000 after acquiring an additional 436 shares during the last quarter. MetLife Investment Management LLC lifted its stake in Arrow Financial by 9.4% in the fourth quarter. MetLife Investment Management LLC now owns 10,076 shares of the financial services provider's stock valued at $289,000 after acquiring an additional 866 shares during the last quarter. Finally, Parr Mcknight Wealth Management Group LLC acquired a new stake in Arrow Financial in the fourth quarter valued at approximately $316,000. 46.71% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have issued reports on AROW shares. Wall Street Zen upgraded shares of Arrow Financial from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Piper Sandler dropped their price target 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, May 5th.
Check Out Our Latest Stock Report on AROW
Arrow Financial Stock Performance
Shares of NASDAQ:AROW traded up $0.60 during trading on Thursday, reaching $27.33. The stock had a trading volume of 11,971 shares, compared to its average volume of 42,355. Arrow Financial Corporation has a 52 week low of $22.72 and a 52 week high of $34.63. The firm has a market capitalization of $455.54 million, a price-to-earnings ratio of 16.16 and a beta of 0.78. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $26.35 and a two-hundred day simple moving average of $26.18.
Arrow Financial (NASDAQ:AROW - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.08. Arrow Financial had a net margin of 12.51% and a return on equity of 8.01%. As a group, analysts anticipate that Arrow Financial Corporation will post 2.65 earnings per share for the current fiscal year.
Arrow Financial Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Monday, August 11th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.24%. This is a positive change from Arrow Financial's previous quarterly dividend of $0.28. Arrow Financial's payout ratio is 65.88%.
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 on Thursday, May 1st. The shares were sold at an average price of $23.78, for a total transaction of $47,560.00. Following the transaction, the director owned 29,293 shares of the company's stock, valued at approximately $696,587.54. The trade was a 6.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 3.55% of the company's stock.
Arrow Financial Profile
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Free Report)
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.
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