Arrow Financial Co. (NASDAQ:AROW) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lessened its holdings in Arrow Financial Co. (NASDAQ:AROW - Free Report) by 20.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 88,452 shares of the financial services provider's stock after selling 23,363 shares during the quarter. Franklin Resources Inc. owned approximately 0.53% of Arrow Financial worth $2,539,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its holdings in Arrow Financial by 13.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider's stock valued at $99,000 after buying an additional 398 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Arrow Financial by 18.5% during the fourth quarter. SG Americas Securities LLC now owns 6,765 shares of the financial services provider's stock valued at $194,000 after acquiring an additional 1,056 shares in the last quarter. Citizens Financial Group Inc. RI bought a new stake in shares of Arrow Financial during the fourth quarter valued at approximately $319,000. JPMorgan Chase & Co. boosted its holdings in shares of Arrow Financial by 137.8% in the third 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 period. Finally, Atria Investments Inc grew its stake in Arrow Financial by 17.3% in the fourth quarter. Atria Investments Inc now owns 19,768 shares of the financial services provider's stock worth $568,000 after purchasing an additional 2,912 shares in the last quarter. 46.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on AROW. StockNews.com lowered Arrow Financial from a "hold" rating to a "sell" rating in a research report on Thursday. Piper Sandler lowered 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. Finally, Hovde Group cut their target price on shares of Arrow Financial from $34.50 to $32.00 and set a "market perform" rating on the stock in a research report on Friday, December 27th.

Arrow Financial Stock Down 2.4 %

Arrow Financial stock traded down $0.59 during mid-day trading on Friday, reaching $23.75. 74,600 shares of the company were exchanged, compared to its average volume of 41,275. Arrow Financial Co. has a 12-month low of $21.58 and a 12-month high of $34.63. The business has a fifty day moving average of $25.92 and a 200 day moving average of $28.24. The firm has a market cap of $397.05 million, a P/E ratio of 13.42 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.

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

Arrow Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Monday, February 10th were given a dividend of $0.28 per share. This is a boost from Arrow Financial's previous quarterly dividend of $0.25. The ex-dividend date was Monday, February 10th. This represents a $1.12 dividend on an annualized basis and a yield of 4.72%. Arrow Financial's dividend payout ratio is presently 63.28%.

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 dated Friday, January 31st. The shares were acquired at an average price of $27.23 per share, for a total transaction of $99,879.64. Following the completion of the purchase, the director now owns 4,338 shares of the company's stock, valued at approximately $118,123.74. The trade was a 547.46 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Raymond F. O'conor sold 2,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $26.90, for a total transaction of $53,800.00. Following the completion of the transaction, the director now directly owns 33,022 shares of the company's stock, valued at $888,291.80. The trade was a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,000 shares of company stock worth $156,240 over the last three months. Corporate 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.