Arrow Financial Corporation $AROW Shares Bought by Arrow Financial Corp

Arrow Financial Corp lifted its position in shares of Arrow Financial Corporation (NASDAQ:AROW) by 0.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,871,735 shares of the financial services provider’s stock after buying an additional 14,403 shares during the quarter. Arrow Financial comprises 5.9% of Arrow Financial Corp’s holdings, making the stock its 3rd biggest position. Arrow Financial Corp owned 0.11% of Arrow Financial worth $58,772,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. grew its stake in shares of Arrow Financial by 2,045.1% in the third quarter. Russell Investments Group Ltd. now owns 1,523 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 1,452 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Arrow Financial by 67.2% in the second quarter. BNP Paribas Financial Markets now owns 1,612 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 648 shares in the last quarter. CWM LLC grew its stake in shares of Arrow Financial by 159.5% in the third quarter. CWM LLC now owns 1,754 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 1,078 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Arrow Financial by 306.5% in the second quarter. Tower Research Capital LLC TRC now owns 2,390 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 1,802 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Arrow Financial during the fourth quarter worth approximately $142,000. 46.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AROW. Hovde Group lifted their price target on shares of Arrow Financial from $33.50 to $34.50 and gave the company a “market perform” rating in a research report on Monday, February 2nd. Weiss Ratings upgraded shares of Arrow Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Finally, Wall Street Zen downgraded shares of Arrow Financial from a “buy” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Arrow Financial presently has an average rating of “Moderate Buy” and a consensus target price of $34.50.

Arrow Financial Price Performance

NASDAQ AROW opened at $35.19 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.06. Arrow Financial Corporation has a 1-year low of $24.57 and a 1-year high of $38.09. The company has a 50 day moving average of $34.85 and a 200-day moving average of $33.07. The company has a market cap of $581.69 million, a price-to-earnings ratio of 11.39 and a beta of 0.78.

Arrow Financial (NASDAQ:AROW) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.06. Arrow Financial had a net margin of 20.72% and a return on equity of 12.38%. The company had revenue of $53.39 million during the quarter, compared to the consensus estimate of $43.80 million.

Arrow Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, May 12th. Arrow Financial’s dividend payout ratio (DPR) is 38.83%.

Arrow Financial Profile

Arrow Financial Corporation is a bank holding company headquartered in Glens Falls, New York, that conducts its primary operations through its subsidiary, Glens Falls National Bank & Trust Company. The company provides a comprehensive suite of retail and commercial banking services, including checking and savings accounts, consumer and commercial lending, mortgage financing, and cash management solutions. Through its branch network, Arrow Financial serves individuals, small- and medium-sized businesses, and nonprofit organizations across the Adirondack region, Upper Hudson Valley, Mohawk Valley and parts of Central New York.

In addition to traditional banking, Arrow Financial has developed a robust wealth management and trust services division.