American Century Companies Inc. Purchases 12,581 Shares of Arrow Financial Co. (NASDAQ:AROW)

American Century Companies Inc. lifted its holdings in shares of Arrow Financial Co. (NASDAQ:AROW - Free Report) by 4.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 304,964 shares of the financial services provider's stock after acquiring an additional 12,581 shares during the period. American Century Companies Inc. owned approximately 1.82% of Arrow Financial worth $8,756,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in Arrow Financial during the fourth quarter valued at approximately $1,072,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Arrow Financial by 42.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 78,548 shares of the financial services provider's stock valued at $2,255,000 after buying an additional 23,498 shares in the last quarter. Trust Co. of Vermont boosted its stake in Arrow Financial by 49.5% in the 4th quarter. Trust Co. of Vermont now owns 57,365 shares of the financial services provider's stock valued at $1,647,000 after buying an additional 19,000 shares in the last quarter. Barclays PLC grew its position 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 period. Finally, Citizens Financial Group Inc. RI acquired a new position in Arrow Financial during the fourth quarter worth $319,000. Institutional investors own 46.71% of the company's stock.

Arrow Financial Price Performance

Arrow Financial stock traded up $0.03 on Monday, reaching $24.14. The company's stock had a trading volume of 42,589 shares, compared to its average volume of 40,984. Arrow Financial Co. has a twelve month low of $21.50 and a twelve month high of $34.63. The company has a market cap of $403.57 million, a price-to-earnings ratio of 13.64 and a beta of 0.71. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.93 and a current ratio of 0.93. The business's fifty day moving average price is $26.46 and its 200 day moving average price is $28.53.

Arrow Financial (NASDAQ:AROW - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.12). Arrow Financial had a return on equity of 8.59% and a net margin of 13.32%. Equities analysts expect that Arrow Financial Co. will post 2.65 earnings per share for the current fiscal year.

Arrow Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Monday, February 10th were issued a dividend of $0.28 per share. This is an increase from Arrow Financial's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.12 annualized dividend and a yield of 4.64%. Arrow Financial's dividend payout ratio is currently 63.28%.

Analysts Set New Price Targets

Several research firms have recently weighed in on AROW. Piper Sandler lowered their target price on shares of Arrow Financial from $32.00 to $30.00 and set a "neutral" rating on the stock in a report on Tuesday, February 4th. Hovde Group dropped their price objective on shares of Arrow Financial from $34.50 to $32.00 and set a "market perform" rating for the company in a report on Friday, December 27th.

Insider Buying and Selling at Arrow Financial

In other Arrow Financial news, Director Daniel James White purchased 3,668 shares of the company's stock in a transaction that occurred on Friday, January 31st. The stock was acquired at an average cost of $27.23 per share, with a total value of $99,879.64. Following the completion of the purchase, the director now directly owns 4,338 shares in the company, valued at approximately $118,123.74. This represents a 547.46 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raymond F. O'conor sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $25.28, for a total transaction of $50,560.00. Following the completion of the transaction, the director now directly owns 35,022 shares in the company, valued at approximately $885,356.16. The trade was a 5.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,000 shares of company stock worth $156,240. Insiders own 3.55% of the company's stock.

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.