Arrow Financial Co. (NASDAQ:AROW) Shares Bought by Arrow Financial Corp

Arrow Financial Corp grew its position in shares of Arrow Financial Co. (NASDAQ:AROW - Free Report) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,969,793 shares of the financial services provider's stock after purchasing an additional 23,198 shares during the quarter. Arrow Financial makes up about 5.2% of Arrow Financial Corp's holdings, making the stock its 3rd largest position. Arrow Financial Corp owned 11.77% of Arrow Financial worth $56,454,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Arrow Financial by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 795,274 shares of the financial services provider's stock worth $19,898,000 after purchasing an additional 10,636 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Arrow Financial by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 700,253 shares of the financial services provider's stock worth $18,241,000 after buying an additional 31,268 shares during the period. American Century Companies Inc. grew its holdings in shares of Arrow Financial by 13.7% during the second quarter. American Century Companies Inc. now owns 266,651 shares of the financial services provider's stock worth $6,946,000 after buying an additional 32,158 shares during the last quarter. Bank of New York Mellon Corp increased its position in Arrow Financial by 12.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 129,326 shares of the financial services provider's stock valued at $3,369,000 after acquiring an additional 13,829 shares during the period. Finally, ClariVest Asset Management LLC raised its stake in Arrow Financial by 2.8% during the 2nd quarter. ClariVest Asset Management LLC now owns 37,247 shares of the financial services provider's stock valued at $970,000 after acquiring an additional 1,017 shares during the last quarter. 46.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Hovde Group started coverage on Arrow Financial in a research note on Monday, September 9th. They issued a "market perform" rating and a $31.00 target price on the stock. StockNews.com upgraded shares of Arrow Financial from a "sell" rating to a "hold" rating in a research report on Tuesday, July 30th.

Insider Activity

In other Arrow Financial news, Director Raymond F. O'conor sold 2,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $30.09, for a total value of $60,180.00. Following the sale, the director now owns 43,176 shares of the company's stock, valued at approximately $1,299,165.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 8,000 shares of company stock worth $229,520. Company insiders own 3.55% of the company's stock.

Arrow Financial Price Performance

Shares of Arrow Financial stock traded up $0.95 during trading on Friday, reaching $33.00. The company's stock had a trading volume of 51,318 shares, compared to its average volume of 37,446. The business has a 50 day moving average price of $29.00 and a 200-day moving average price of $27.37. Arrow Financial Co. has a 12-month low of $21.50 and a 12-month high of $33.49. The company has a market capitalization of $552.09 million, a P/E ratio of 16.84 and a beta of 0.72. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.07.

Arrow Financial (NASDAQ:AROW - Get Free Report) last issued its earnings results on Thursday, October 31st. The financial services provider reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. The company had revenue of $57.58 million for the quarter. Arrow Financial had a net margin of 15.00% and a return on equity of 8.67%.

Arrow Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 29th. Shareholders of record on Tuesday, October 15th were issued a $0.28 dividend. The ex-dividend date was Tuesday, October 15th. This is a boost from Arrow Financial's previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 3.39%. Arrow Financial's dividend payout ratio (DPR) is 57.14%.

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.