Dimensional Fund Advisors LP Grows Position in Arrow Financial Co. (NASDAQ:AROW)

Dimensional Fund Advisors LP grew its stake in shares of Arrow Financial Co. (NASDAQ:AROW) by 4.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 700,253 shares of the financial services provider’s stock after purchasing an additional 31,268 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Arrow Financial were worth $18,241,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Arrow Financial Corp boosted its stake in shares of Arrow Financial by 6.6% during the second quarter. Arrow Financial Corp now owns 1,946,595 shares of the financial services provider’s stock valued at $50,709,000 after purchasing an additional 119,715 shares during the period. Vanguard Group Inc. raised its holdings in shares of Arrow Financial by 1.4% during the first quarter. Vanguard Group Inc. now owns 795,274 shares of the financial services provider’s stock valued at $19,898,000 after acquiring an additional 10,636 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Arrow Financial by 13.7% during 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. Bank of New York Mellon Corp raised its holdings in shares of Arrow Financial by 12.0% during the second quarter. Bank of New York Mellon Corp now owns 129,326 shares of the financial services provider’s stock valued at $3,369,000 after acquiring an additional 13,829 shares in the last quarter. Finally, ClariVest Asset Management LLC raised its holdings in shares of Arrow Financial by 2.8% during 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. Hedge funds and other institutional investors own 46.71% of the company’s stock.

Arrow Financial Stock Performance

Shares of Arrow Financial stock opened at $28.05 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $468.38 million, a P/E ratio of 16.31 and a beta of 0.72. The business has a fifty day simple moving average of $28.91 and a two-hundred day simple moving average of $26.33. Arrow Financial Co. has a 12 month low of $16.85 and a 12 month high of $32.92.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.52 EPS for the quarter. The business had revenue of $55.83 million during the quarter. Arrow Financial had a return on equity of 8.46% and a net margin of 14.94%.

Arrow Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.28 per share. The ex-dividend date is Tuesday, October 15th. This represents a $1.12 annualized dividend and a yield of 3.99%. This is a positive change from Arrow Financial’s previous quarterly dividend of $0.27. Arrow Financial’s dividend payout ratio (DPR) is currently 62.79%.

Analyst Ratings Changes

A number of brokerages recently commented on AROW. StockNews.com upgraded Arrow Financial from a “sell” rating to a “hold” rating in a report on Tuesday, July 30th. Hovde Group began coverage on Arrow Financial in a report on Monday, September 9th. They set a “market perform” rating and a $31.00 target price for the company.

Insider Buying and Selling at Arrow Financial

In other Arrow Financial news, Director Raymond F. O’conor sold 2,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $30.09, for a total transaction of $60,180.00. Following the completion of the transaction, the director now owns 43,176 shares of the company’s stock, valued at approximately $1,299,165.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 6,000 shares of company stock valued at $172,520. 3.55% of the stock is currently owned by company insiders.

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.