JPMorgan Chase & Co. Has $536,000 Stake in Arrow Financial Co. (NASDAQ:AROW)

JPMorgan Chase & Co. raised its stake in shares of Arrow Financial Co. (NASDAQ:AROW - Free Report) by 137.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,702 shares of the financial services provider's stock after buying an additional 10,838 shares during the period. JPMorgan Chase & Co. owned 0.11% of Arrow Financial worth $536,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in AROW. Arrow Financial Corp lifted its position in shares of Arrow Financial by 1.2% during the 3rd quarter. Arrow Financial Corp now owns 1,969,793 shares of the financial services provider's stock worth $56,454,000 after purchasing an additional 23,198 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 last quarter. State Street Corp boosted its position in shares of Arrow Financial by 0.3% in the third quarter. State Street Corp now owns 393,719 shares of the financial services provider's stock valued at $11,284,000 after acquiring an additional 1,022 shares during the period. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Arrow Financial by 0.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 118,630 shares of the financial services provider's stock worth $3,400,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in Arrow Financial by 0.4% during the third quarter. Rockefeller Capital Management L.P. now owns 116,867 shares of the financial services provider's stock worth $3,349,000 after acquiring an additional 454 shares during the period. Institutional investors and hedge funds own 46.71% of the company's stock.

Analysts Set New Price Targets

AROW has been the topic of a number of recent research reports. Piper Sandler initiated coverage on Arrow Financial in a research report on Friday, December 20th. They set a "neutral" rating and a $32.00 target price on the stock. Hovde Group decreased their price objective on Arrow Financial from $34.50 to $32.00 and set a "market perform" rating on the stock in a report on Friday, December 27th.

Insider Transactions at Arrow Financial

In other Arrow Financial news, Director Raymond F. O'conor sold 2,000 shares of Arrow Financial stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $32.69, for a total value of $65,380.00. Following the transaction, the director now owns 37,859 shares of the company's stock, valued at approximately $1,237,610.71. The trade was a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 6,000 shares of company stock worth $180,080. 3.55% of the stock is currently owned by company insiders.

Arrow Financial Price Performance

Shares of AROW stock traded down $0.45 during trading hours on Friday, hitting $26.61. 44,507 shares of the company's stock were exchanged, compared to its average volume of 35,430. The stock's 50-day moving average is $29.23 and its 200-day moving average is $29.49. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.93 and a quick ratio of 0.93. Arrow Financial Co. has a 52 week low of $21.50 and a 52 week high of $34.63. The stock has a market cap of $445.45 million, a price-to-earnings ratio of 13.58 and a beta of 0.77.

Arrow Financial (NASDAQ:AROW - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.47 earnings per share 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 15.00%. As a group, research analysts forecast that Arrow Financial Co. will post 2.11 EPS for the current year.

Arrow Financial Increases Dividend

The business also recently announced a dividend, which will be paid on Monday, February 24th. Shareholders of record on Tuesday, February 11th will be paid a $0.28 dividend. This is a positive change from Arrow Financial's previous dividend of $0.25. The ex-dividend date of this dividend is Monday, February 10th. This represents a yield of 4.21%. Arrow Financial's dividend payout ratio is presently 57.14%.

Arrow Financial 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.