Hsbc Holdings PLC Invests $357,000 in Arrow Financial Co. (NASDAQ:AROW)

Hsbc Holdings PLC acquired a new stake in shares of Arrow Financial Co. (NASDAQ:AROW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,410 shares of the financial services provider's stock, valued at approximately $357,000. Hsbc Holdings PLC owned approximately 0.07% of Arrow Financial as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Rockefeller Capital Management L.P. raised its position in shares of Arrow Financial by 0.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 117,355 shares of the financial services provider's stock valued at $3,369,000 after acquiring an additional 488 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in 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 purchasing an additional 703 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Arrow Financial by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 126,779 shares of the financial services provider's stock worth $3,640,000 after purchasing an additional 786 shares during the period. MetLife Investment Management LLC lifted its position in shares of Arrow Financial by 9.4% in the 4th quarter. MetLife Investment Management LLC now owns 10,076 shares of the financial services provider's stock worth $289,000 after buying an additional 866 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Arrow Financial by 18.5% in the 4th quarter. SG Americas Securities LLC now owns 6,765 shares of the financial services provider's stock valued at $194,000 after buying an additional 1,056 shares during the period. Institutional investors and hedge funds own 46.71% of the company's stock.

Arrow Financial Stock Performance

Shares of AROW stock traded up $0.12 during trading hours on Tuesday, reaching $26.56. The stock had a trading volume of 24,613 shares, compared to its average volume of 42,724. The firm has a market capitalization of $442.78 million, a PE ratio of 15.01 and a beta of 0.78. The firm has a 50-day simple moving average of $25.37 and a 200-day simple moving average of $27.83. Arrow Financial Co. has a twelve month low of $22.72 and a twelve month high of $34.63. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.93 and a quick ratio of 0.93.

Arrow Financial (NASDAQ:AROW - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.06). Arrow Financial had a net margin of 13.32% and a return on equity of 8.59%. The business had revenue of $50.37 million for the quarter, compared to the consensus estimate of $39.26 million. As a group, equities analysts forecast that Arrow Financial Co. will post 2.65 earnings per share for the current year.

Arrow Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend is Tuesday, May 13th. Arrow Financial's dividend payout ratio (DPR) is presently 65.88%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AROW shares. StockNews.com upgraded shares of Arrow Financial from a "sell" rating to a "hold" rating in a research note on Friday, May 2nd. Piper Sandler cut their price target on Arrow Financial from $30.00 to $28.00 and set a "neutral" rating on the stock in a report on Monday, May 5th.

Insiders Place Their Bets

In related news, Director Raymond F. O'conor sold 2,000 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $23.78, for a total transaction of $47,560.00. Following the completion of the sale, the director now directly owns 29,293 shares in the company, valued at approximately $696,587.54. This trade represents a 6.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 6,000 shares of company stock worth $153,240. 3.55% of the stock is owned by 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.