Dimensional Fund Advisors LP Has $18.24 Million Stock Position in Arrow Financial Co. (NASDAQ:AROW)

Dimensional Fund Advisors LP lifted its holdings in Arrow Financial Co. (NASDAQ:AROW - Free Report) by 4.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 700,253 shares of the financial services provider's stock after acquiring an additional 31,268 shares during the period. Dimensional Fund Advisors LP owned approximately 4.19% of Arrow Financial worth $18,241,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. American Century Companies Inc. grew its stake in shares of Arrow Financial by 13.7% in the second quarter. American Century Companies Inc. now owns 266,651 shares of the financial services provider's stock valued at $6,946,000 after acquiring an additional 32,158 shares in the last quarter. ClariVest Asset Management LLC grew its stake in shares of Arrow Financial by 2.8% in the second 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 in the last quarter. Private Advisor Group LLC grew its stake in shares of Arrow Financial by 74.1% in the second quarter. Private Advisor Group LLC now owns 19,934 shares of the financial services provider's stock valued at $519,000 after acquiring an additional 8,483 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Arrow Financial by 6.4% in the second quarter. Rhumbline Advisers now owns 24,650 shares of the financial services provider's stock valued at $642,000 after acquiring an additional 1,485 shares in the last quarter. Finally, IFG Advisory LLC acquired a new stake in Arrow Financial during the second quarter worth about $207,000. 46.71% of the stock is currently owned by institutional investors and hedge funds.

Arrow Financial Price Performance

Arrow Financial stock traded up $0.42 during trading hours on Friday, reaching $28.05. 19,887 shares of the stock were exchanged, compared to its average volume of 42,075. The company has a market cap of $468.38 million, a P/E ratio of 16.31 and a beta of 0.72. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.07. Arrow Financial Co. has a twelve month low of $16.85 and a twelve month high of $32.92. The stock has a 50 day moving average of $28.91 and a two-hundred day moving average of $26.33.

Arrow Financial (NASDAQ:AROW - Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.52 earnings per share for the quarter. Arrow Financial had a net margin of 14.94% and a return on equity of 8.46%. The company had revenue of $55.83 million for the quarter.

Arrow Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 29th. Stockholders of record on Tuesday, October 15th will be paid a $0.28 dividend. This is an increase from Arrow Financial's previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date is Tuesday, October 15th. Arrow Financial's dividend payout ratio (DPR) is presently 62.79%.

Insider Activity

In other news, Director Raymond F. O'conor sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $30.09, for a total value of $60,180.00. Following the sale, the director now directly owns 43,176 shares in the company, valued at approximately $1,299,165.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 6,000 shares of company stock worth $172,520. Corporate insiders own 3.55% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AROW. StockNews.com upgraded shares of Arrow Financial from a "sell" rating to a "hold" rating in a research note on Tuesday, July 30th. Hovde Group began coverage on shares of Arrow Financial in a research note on Monday, September 9th. They set a "market perform" rating and a $31.00 price objective on the stock.

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.