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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its stake in shares of 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 worth $36,000 after purchasing an additional 703 shares during the last quarter. State of Tennessee Department of Treasury purchased a new position in shares of Arrow Financial in the fourth quarter worth about $198,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of 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 worth $270,000 after purchasing an additional 436 shares during the last quarter. MetLife Investment Management LLC raised its stake 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 purchasing an additional 866 shares during the last quarter. Finally, Parr Mcknight Wealth Management Group LLC purchased a new position in shares of Arrow Financial in the fourth quarter worth about $316,000. 46.71% of the stock is currently owned by hedge funds and other institutional investors.

Arrow Financial Stock Down 2.4%

Arrow Financial stock opened at $26.16 on Friday. The firm has a market cap of $436.09 million, a price-to-earnings ratio of 14.30 and a beta of 0.82. Arrow Financial Corporation has a 52 week low of $22.72 and a 52 week high of $34.63. The business's 50-day moving average price is $26.44 and its 200 day moving average price is $26.19. 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 issued its quarterly earnings data 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 8.69% and a net margin of 13.28%. The company had revenue of $51.57 million for the quarter, compared to analyst estimates of $39.83 million. As a group, sell-side analysts anticipate 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 $0.29 dividend. The ex-dividend date of this dividend is Monday, August 11th. This is an increase from Arrow Financial's previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 4.4%. Arrow Financial's dividend payout ratio is 61.20%.

Analyst Upgrades and Downgrades

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

Arrow Financial Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.