Arrow Financial Co. (NASDAQ:AROW) Shares Acquired by Adirondack Trust Co.

Adirondack Trust Co. grew its stake in Arrow Financial Co. (NASDAQ:AROW) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,984 shares of the financial services provider’s stock after acquiring an additional 635 shares during the quarter. Adirondack Trust Co. owned about 0.13% of Arrow Financial worth $614,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. HighTower Advisors LLC boosted its holdings in Arrow Financial by 5.1% during the 3rd quarter. HighTower Advisors LLC now owns 15,982 shares of the financial services provider’s stock valued at $273,000 after acquiring an additional 770 shares during the period. GAMMA Investing LLC purchased a new position in Arrow Financial during the 4th quarter valued at about $29,000. Swiss National Bank grew its holdings in Arrow Financial by 3.0% during the 3rd quarter. Swiss National Bank now owns 36,724 shares of the financial services provider’s stock worth $625,000 after acquiring an additional 1,069 shares in the last quarter. Trust Co. of Vermont increased its position in shares of Arrow Financial by 3.0% in the 3rd quarter. Trust Co. of Vermont now owns 39,105 shares of the financial services provider’s stock valued at $666,000 after purchasing an additional 1,137 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Arrow Financial by 22.1% in the 4th quarter. SG Americas Securities LLC now owns 8,033 shares of the financial services provider’s stock valued at $224,000 after purchasing an additional 1,454 shares in the last quarter. 46.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Arrow Financial from a “sell” rating to a “hold” rating in a research note on Thursday, May 9th.

Arrow Financial Price Performance

AROW stock traded down $0.01 during trading on Tuesday, reaching $24.73. 1,942 shares of the company were exchanged, compared to its average volume of 40,486. The company has a market cap of $412.99 million, a P/E ratio of 14.39 and a beta of 0.75. Arrow Financial Co. has a 52-week low of $16.65 and a 52-week high of $29.66. The stock’s 50 day moving average price is $23.83 and its 200 day moving average price is $25.04. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.90 and a current ratio of 0.90.

Arrow Financial (NASDAQ:AROW) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). The business had revenue of $54.54 million for the quarter, compared to analyst estimates of $33.29 million. Arrow Financial had a return on equity of 7.89% and a net margin of 14.34%. As a group, analysts predict that Arrow Financial Co. will post 2.29 earnings per share for the current fiscal year.

Arrow Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 13th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.37%. The ex-dividend date was Friday, May 10th. Arrow Financial’s dividend payout ratio (DPR) is 62.81%.

Insider Buying and Selling

In related news, Director Raymond F. O’conor sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $23.63, for a total transaction of $94,520.00. Following the completion of the transaction, the director now owns 46,419 shares of the company’s stock, valued at $1,096,880.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.55% of the stock is currently owned by company insiders.

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.