Universal Beteiligungs und Servicegesellschaft mbH Acquires Shares of 18,339 Arrow Financial Corporation (NASDAQ:AROW)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH acquired 18,339 shares of Arrow Financial Corporation, worth approximately $482,000, increasing its stake to about 0.11% as of the latest SEC filing.
• Arrow Financial's stock recently saw a 2.4% decline, with a current market cap of $436.09 million and a price-to-earnings ratio of 14.30.
• The company announced an increase in its quarterly dividend from $0.28 to $0.29, with a yield of 4.4%, payable to shareholders on August 25th.

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Arrow Financial Corporation (NASDAQ:AROW - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 18,339 shares of the financial services provider's stock, valued at approximately $482,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.11% of Arrow Financial as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in Arrow Financial by 202.5% during the fourth quarter. JPMorgan Chase & Co. now owns 56,571 shares of the financial services provider's stock valued at $1,624,000 after buying an additional 37,869 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Arrow Financial by 19.4% in the fourth quarter. Wells Fargo & Company MN now owns 11,563 shares of the financial services provider's stock worth $332,000 after acquiring an additional 1,881 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Arrow Financial in the fourth quarter worth $1,072,000. Rockefeller Capital Management L.P. grew its holdings in shares of Arrow Financial by 0.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 117,355 shares of the financial services provider's stock worth $3,369,000 after acquiring an additional 488 shares during the period. Finally, Barclays PLC grew its holdings in shares of Arrow Financial by 15.3% in the fourth quarter. Barclays PLC now owns 24,693 shares of the financial services provider's stock worth $709,000 after acquiring an additional 3,282 shares during the period. Hedge funds and other institutional investors own 46.71% of the company's stock.

Arrow Financial Price Performance

Shares of Arrow Financial stock traded up $0.08 during trading hours on Wednesday, hitting $26.90. The company's stock had a trading volume of 11,787 shares, compared to its average volume of 41,866. The business has a 50 day moving average price of $26.47 and a two-hundred day moving average price of $26.18. Arrow Financial Corporation has a 12-month low of $22.72 and a 12-month high of $34.63. The company has a market cap of $448.34 million, a PE ratio of 14.70 and a beta of 0.82. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.93 and a current ratio of 0.93.

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. The company had revenue of $51.57 million for the quarter, compared to the consensus estimate of $39.83 million. Arrow Financial had a return on equity of 8.69% and a net margin of 13.28%. Analysts expect that Arrow Financial Corporation will post 2.65 earnings per share for the current fiscal year.

Arrow Financial Increases Dividend

The company 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 $0.29 dividend. This is an increase from Arrow Financial's previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Monday, August 11th. Arrow Financial's dividend payout ratio (DPR) is presently 61.20%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wall Street Zen raised Arrow Financial from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Hovde Group boosted their price target on Arrow Financial from $27.50 to $28.50 and gave the company a "market perform" rating in a report on Friday, July 25th. Finally, Piper Sandler lowered their price objective on Arrow Financial from $30.00 to $28.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th.

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.