Arrow Financial Co. (NASDAQ:AROW) Director Raymond F. O’conor sold 500 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $38.55, for a total value of $19,275.00. Following the transaction, the director now directly owns 44,531 shares in the company, valued at approximately $1,716,670.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

NASDAQ:AROW traded up $0.25 during midday trading on Friday, hitting $38.70. The stock had a trading volume of 649 shares, compared to its average volume of 10,744. Arrow Financial Co. has a one year low of $30.81 and a one year high of $40.15. The stock has a market cap of $536.81 million, a P/E ratio of 16.44 and a beta of 0.58. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.77.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings data on Monday, July 23rd. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.05. Arrow Financial had a return on equity of 12.99% and a net margin of 28.50%. The company had revenue of $28.87 million for the quarter.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be paid a $0.26 dividend. The ex-dividend date is Thursday, August 30th. This represents a $1.04 annualized dividend and a yield of 2.69%. This is a boost from Arrow Financial’s previous quarterly dividend of $0.25.

Separately, BidaskClub cut Arrow Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, July 17th.

A number of large investors have recently made changes to their positions in the stock. First Republic Investment Management Inc. lifted its holdings in Arrow Financial by 132.6% during the second quarter. First Republic Investment Management Inc. now owns 87,558 shares of the financial services provider’s stock worth $3,187,000 after buying an additional 49,919 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Arrow Financial by 4.5% during the second quarter. Dimensional Fund Advisors LP now owns 620,378 shares of the financial services provider’s stock worth $22,582,000 after buying an additional 26,657 shares during the period. BlackRock Inc. lifted its holdings in Arrow Financial by 2.4% during the second quarter. BlackRock Inc. now owns 995,643 shares of the financial services provider’s stock worth $36,242,000 after buying an additional 23,234 shares during the period. Maltese Capital Management LLC purchased a new stake in Arrow Financial during the first quarter worth $509,000. Finally, Renaissance Technologies LLC lifted its holdings in Arrow Financial by 3.4% during the second quarter. Renaissance Technologies LLC now owns 301,760 shares of the financial services provider’s stock worth $10,984,000 after buying an additional 10,000 shares during the period. 40.43% of the stock is currently owned by institutional investors.

About Arrow Financial

Arrow Financial Corporation, a multi-bank holding company, provides commercial and consumer banking, and financial products and services. Its deposit products include demand deposits, interest-bearing checking accounts, savings deposits, time deposits, and other time deposits. The company's 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 improvements to commercial properties, as well as commercial construction and land development loans to finance projects.

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