Deutsche Bank AG Acquires 30,891 Shares of Arrow Financial Corporation $AROW

Key Points

• Deutsche Bank AG increased its stake in Arrow Financial Corporation by 268.2%, acquiring 30,891 shares during the first quarter, bringing its total ownership to 42,407 shares valued at approximately $1.12 million.
• Arrow Financial recently increased its quarterly dividend to $0.29 from $0.28, with a dividend yield of 3.9% and a payout ratio of 63.39%.
• Analysts predict Arrow Financial will post an earnings per share of 2.65 for the current fiscal year, with a consensus rating of "Hold" and an average target price of $28.25.

Deutsche Bank AG grew its holdings in Arrow Financial Corporation (NASDAQ:AROW - Free Report) by 268.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,407 shares of the financial services provider's stock after acquiring an additional 30,891 shares during the quarter. Deutsche Bank AG owned 0.25% of Arrow Financial worth $1,115,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Arrow Financial by 3.8% during the first quarter. Vanguard Group Inc. now owns 833,728 shares of the financial services provider's stock worth $21,919,000 after buying an additional 30,459 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Arrow Financial during the first quarter worth about $482,000. Financial Counselors Inc. boosted its position in shares of Arrow Financial by 13.5% during the first quarter. Financial Counselors Inc. now owns 16,862 shares of the financial services provider's stock worth $443,000 after buying an additional 2,000 shares during the period. Johnson Investment Counsel Inc. boosted its position in shares of Arrow Financial by 48.1% during the first quarter. Johnson Investment Counsel Inc. now owns 59,102 shares of the financial services provider's stock worth $1,554,000 after buying an additional 19,200 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Arrow Financial by 3,616.8% during the first quarter. GAMMA Investing LLC now owns 23,267 shares of the financial services provider's stock worth $6,120,000 after buying an additional 22,641 shares during the period. 46.71% of the stock is currently owned by institutional investors.

Arrow Financial Stock Performance

Shares of NASDAQ AROW opened at $29.38 on Friday. The stock has a 50 day moving average price of $27.03 and a 200 day moving average price of $26.24. Arrow Financial Corporation 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 stock has a market capitalization of $483.89 million, a PE ratio of 16.05 and a beta of 0.82.

Arrow Financial (NASDAQ:AROW - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.62 by $0.08. Arrow Financial had a return on equity of 8.64% and a net margin of 13.28%.The firm had revenue of $51.57 million during the quarter, compared to analysts' expectations of $39.83 million. Analysts predict that Arrow Financial Corporation will post 2.65 earnings per share for the current fiscal 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 paid a $0.29 dividend. This is a positive change from Arrow Financial's previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 3.9%. The ex-dividend date is Monday, August 11th. Arrow Financial's dividend payout ratio is currently 63.39%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wall Street Zen raised Arrow Financial from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Piper Sandler reduced their price objective on Arrow Financial from $30.00 to $28.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Finally, Hovde Group upped their price objective 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. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Arrow Financial currently has a consensus rating of "Hold" and an average target price of $28.25.

Insider Transactions at Arrow Financial

In other Arrow Financial news, CFO Penko Krassimir Ivanov acquired 1,425 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were purchased at an average price of $26.50 per share, for a total transaction of $37,762.50. Following the completion of the purchase, the chief financial officer directly owned 7,709 shares of the company's stock, valued at approximately $204,288.50. This represents a 22.68% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.28% of the stock is owned by corporate insiders.

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.

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