Arrow Financial Co. (NASDAQ:AROW) Shares Sold by Waldron Private Wealth LLC

Waldron Private Wealth LLC lessened its holdings in shares of Arrow Financial Co. (NASDAQ:AROW) by 54.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,955 shares of the financial services provider’s stock after selling 13,000 shares during the quarter. Waldron Private Wealth LLC owned approximately 0.07% of Arrow Financial worth $314,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AROW. ClariVest Asset Management LLC grew its holdings in 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 purchasing an additional 1,017 shares during the period. Rhumbline Advisers grew its stake in shares of Arrow Financial by 6.4% during the 2nd quarter. Rhumbline Advisers now owns 24,650 shares of the financial services provider’s stock valued at $642,000 after buying an additional 1,485 shares during the period. Empowered Funds LLC increased its holdings in shares of Arrow Financial by 7.7% during the 1st quarter. Empowered Funds LLC now owns 26,764 shares of the financial services provider’s stock worth $670,000 after buying an additional 1,925 shares during the last quarter. Financial Counselors Inc. raised its position in shares of Arrow Financial by 11.4% in the 1st quarter. Financial Counselors Inc. now owns 19,612 shares of the financial services provider’s stock worth $491,000 after buying an additional 2,000 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in Arrow Financial by 90.9% in the first quarter. BNP Paribas Financial Markets now owns 7,263 shares of the financial services provider’s stock valued at $182,000 after acquiring an additional 3,459 shares during the last quarter. Institutional investors and hedge funds own 46.71% of the company’s stock.

Insider Activity

In related news, Director Raymond F. O’conor sold 2,000 shares of Arrow Financial stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $28.04, for a total transaction of $56,080.00. Following the sale, the director now owns 41,176 shares of the company’s stock, valued at $1,154,575.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 6,000 shares of company stock worth $172,520. 3.55% of the stock is currently owned by company insiders.

Arrow Financial Trading Up 1.1 %

NASDAQ:AROW opened at $28.93 on Thursday. The business’s 50-day moving average is $28.88 and its two-hundred day moving average is $26.75. The firm has a market capitalization of $483.07 million, a PE ratio of 16.82 and a beta of 0.72. Arrow Financial Co. has a 12 month low of $17.76 and a 12 month high of $32.92. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.92 and a quick ratio of 0.92.

Arrow Financial (NASDAQ:AROW) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.52 EPS for the quarter. The business had revenue of $55.83 million for 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 announced a quarterly dividend, which will be paid on Tuesday, October 29th. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.28 per share. This is a boost 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 3.87%. The ex-dividend date is Tuesday, October 15th. Arrow Financial’s payout ratio is presently 65.12%.

Wall Street Analyst Weigh In

A number of research firms have 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 started coverage on shares of Arrow Financial in a report on Monday, September 9th. They issued a “market perform” rating and a $31.00 price target 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.