Voya Investment Management LLC Buys 24,036 Shares of Arrow Financial Co. (NASDAQ:AROW)

Voya Investment Management LLC raised its position in Arrow Financial Co. (NASDAQ:AROW - Free Report) by 15.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 178,680 shares of the financial services provider's stock after buying an additional 24,036 shares during the quarter. Voya Investment Management LLC owned about 1.07% of Arrow Financial worth $5,130,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC increased its stake in Arrow Financial by 251.9% in the third quarter. Barclays PLC now owns 21,411 shares of the financial services provider's stock valued at $614,000 after acquiring an additional 15,327 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Arrow Financial by 137.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,702 shares of the financial services provider's stock valued at $536,000 after purchasing an additional 10,838 shares during the last quarter. Trust Co. of Vermont raised its holdings in shares of Arrow Financial by 49.5% during the 4th quarter. Trust Co. of Vermont now owns 57,365 shares of the financial services provider's stock worth $1,647,000 after buying an additional 19,000 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Arrow Financial by 18.5% during the 4th quarter. SG Americas Securities LLC now owns 6,765 shares of the financial services provider's stock worth $194,000 after buying an additional 1,056 shares during the last quarter. Finally, Rhumbline Advisers grew its position in Arrow Financial by 5.6% in the fourth quarter. Rhumbline Advisers now owns 26,162 shares of the financial services provider's stock valued at $751,000 after acquiring an additional 1,392 shares during the last quarter. 46.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Arrow Financial news, Director Raymond F. O'conor sold 2,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $26.90, for a total transaction of $53,800.00. Following the completion of the sale, the director now directly owns 33,022 shares in the company, valued at approximately $888,291.80. This trade represents a 5.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 8,000 shares of company stock valued at $203,800 over the last ninety days. 3.55% of the stock is owned by company insiders.

Arrow Financial Trading Up 3.9 %

NASDAQ AROW traded up $0.95 during trading hours on Friday, reaching $25.35. The company's stock had a trading volume of 52,051 shares, compared to its average volume of 42,496. Arrow Financial Co. 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 current ratio of 0.93 and a quick ratio of 0.93. The stock has a market cap of $422.61 million, a P/E ratio of 14.32 and a beta of 0.78. The firm has a fifty day simple moving average of $25.45 and a 200-day simple moving average of $27.96.

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

Arrow Financial Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.42%. Arrow Financial's dividend payout ratio (DPR) is 65.88%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AROW. Piper Sandler dropped their price objective on shares of Arrow Financial from $32.00 to $30.00 and set a "neutral" rating for the company in a research note on Tuesday, February 4th. StockNews.com raised Arrow Financial from a "sell" rating to a "hold" rating in a report on Friday.

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.