GAMMA Investing LLC boosted its holdings in shares of Arrow Financial Co. (NASDAQ:AROW - Free Report) by 3,616.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,267 shares of the financial services provider's stock after buying an additional 22,641 shares during the quarter. GAMMA Investing LLC owned approximately 0.14% of Arrow Financial worth $6,120,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its holdings in shares of Arrow Financial by 130.7% during 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 buying an additional 703 shares during the last quarter. State of Tennessee Department of Treasury purchased a new stake in Arrow Financial in the fourth quarter valued at $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 purchasing an additional 436 shares during the last quarter. MetLife Investment Management LLC raised its position in shares of 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 worth $289,000 after acquiring an additional 866 shares during the period. Finally, Parr Mcknight Wealth Management Group LLC acquired a new position in shares of Arrow Financial in the fourth quarter worth about $316,000. 46.71% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Arrow Financial news, Director Raymond F. O'conor sold 2,000 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 29,293 shares in the company, valued at $696,587.54. This represents a 6.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.55% of the stock is owned by company insiders.
Analysts Set New Price Targets
Several research firms recently weighed in on AROW. Piper Sandler reduced their price target on shares of Arrow Financial from $30.00 to $28.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Wall Street Zen cut shares of Arrow Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 30th.
Read Our Latest Stock Analysis on AROW
Arrow Financial Trading Down 3.2%
Shares of Arrow Financial stock traded down $0.83 during mid-day trading on Friday, hitting $25.32. The stock had a trading volume of 44,443 shares, compared to its average volume of 42,458. The firm has a 50-day moving average of $25.38 and a two-hundred day moving average of $26.97. Arrow Financial Co. has a 12-month low of $22.72 and a 12-month high of $34.63. 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 firm has a market cap of $422.21 million, a P/E ratio of 14.31 and a beta of 0.78.
Arrow Financial (NASDAQ:AROW - Get Free Report) last posted its quarterly 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). The firm had revenue of $50.37 million during the quarter, compared to analysts' expectations of $39.26 million. Arrow Financial had a net margin of 13.32% and a return on equity of 8.59%. Sell-side analysts forecast that Arrow Financial Co. will post 2.65 earnings per share for the current year.
Arrow Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $1.12 dividend on an annualized basis and a yield of 4.42%. Arrow Financial's dividend payout ratio (DPR) is presently 65.88%.
Arrow Financial Company Profile
(
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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