Clean Yield Group bought a new position in shares of Arrow Financial Co. (NASDAQ:AROW) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,020 shares of the financial services provider’s stock, valued at approximately $65,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Teachers Advisors LLC boosted its position in Arrow Financial by 2.0% during the 3rd quarter. Teachers Advisors LLC now owns 21,449 shares of the financial services provider’s stock worth $794,000 after acquiring an additional 423 shares during the last quarter. Martingale Asset Management L P boosted its holdings in shares of Arrow Financial by 2.7% in the 3rd quarter. Martingale Asset Management L P now owns 32,006 shares of the financial services provider’s stock valued at $1,185,000 after buying an additional 827 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Arrow Financial by 1.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 91,359 shares of the financial services provider’s stock valued at $3,381,000 after buying an additional 1,459 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Arrow Financial by 17.5% in the 3rd quarter. Acadian Asset Management LLC now owns 12,670 shares of the financial services provider’s stock valued at $469,000 after buying an additional 1,890 shares during the last quarter. Finally, First Quadrant L P CA acquired a new stake in shares of Arrow Financial in the 3rd quarter valued at approximately $119,000. 40.46% of the stock is owned by institutional investors and hedge funds.
AROW stock traded up $0.65 during trading hours on Friday, hitting $35.28. 27,981 shares of the stock were exchanged, compared to its average volume of 19,231. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $509.90 million, a price-to-earnings ratio of 13.94 and a beta of 0.56. Arrow Financial Co. has a 12 month low of $30.45 and a 12 month high of $40.15.
Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings data on Tuesday, January 29th. The financial services provider reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.03). The firm had revenue of $28.46 million for the quarter. Arrow Financial had a return on equity of 14.01% and a net margin of 28.92%.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Thursday, February 28th.
Separately, BidaskClub downgraded Arrow Financial from a “hold” rating to a “sell” rating in a report on Thursday, November 8th.
Arrow Financial Profile
Arrow Financial Corporation, a multi-bank holding company, provides commercial and consumer banking, and financial products and services. Its deposit products include demand deposits, interest-bearing checking accounts, savings deposits, time deposits, and other time deposits. The company's 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 improvements to commercial properties, as well as commercial construction and land development loans to finance projects.
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