Atria Investments Inc Buys 2,912 Shares of Arrow Financial Co. (NASDAQ:AROW)

Atria Investments Inc grew its stake in shares of Arrow Financial Co. (NASDAQ:AROW) by 17.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,768 shares of the financial services provider’s stock after buying an additional 2,912 shares during the period. Atria Investments Inc’s holdings in Arrow Financial were worth $568,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. State Street Corp lifted its position in Arrow Financial by 0.3% in the 3rd quarter. State Street Corp now owns 393,719 shares of the financial services provider’s stock valued at $11,284,000 after acquiring an additional 1,022 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Arrow Financial by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 126,779 shares of the financial services provider’s stock valued at $3,640,000 after purchasing an additional 786 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Arrow Financial by 0.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 118,630 shares of the financial services provider’s stock valued at $3,400,000 after purchasing an additional 1,100 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Arrow Financial by 0.4% during the third quarter. Rockefeller Capital Management L.P. now owns 116,867 shares of the financial services provider’s stock worth $3,349,000 after buying an additional 454 shares during the period. Finally, Trust Co. of Vermont grew its holdings in shares of Arrow Financial by 49.5% during the fourth quarter. Trust Co. of Vermont now owns 57,365 shares of the financial services provider’s stock worth $1,647,000 after buying an additional 19,000 shares in the last quarter. 46.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 that occurred on Thursday, January 2nd. The shares were sold at an average price of $28.85, for a total transaction of $57,700.00. Following the completion of the sale, the director now directly owns 35,859 shares in the company, valued at $1,034,532.15. This trade represents a 5.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel James White bought 3,668 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was purchased at an average cost of $27.23 per share, for a total transaction of $99,879.64. Following the transaction, the director now directly owns 4,338 shares of the company’s stock, valued at $118,123.74. The trade was a 547.46 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 6,000 shares of company stock worth $162,060. Company insiders own 3.55% of the company’s stock.

Arrow Financial Trading Up 1.6 %

NASDAQ AROW opened at $26.30 on Friday. The company has a market cap of $440.24 million, a PE ratio of 14.86 and a beta of 0.73. Arrow Financial Co. has a 12 month low of $21.50 and a 12 month high of $34.63. The stock has a 50 day moving average of $26.79 and a 200-day moving average of $28.91. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06.

Arrow Financial (NASDAQ:AROW) last issued its earnings results on Thursday, January 30th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.12). Arrow Financial had a net margin of 13.32% and a return on equity of 8.59%. On average, equities research analysts anticipate that Arrow Financial Co. will post 2.65 EPS for the current fiscal year.

Arrow Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Monday, February 10th were issued a dividend of $0.28 per share. The ex-dividend date was Monday, February 10th. This is a positive change from Arrow Financial’s previous quarterly dividend of $0.25. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.26%. Arrow Financial’s payout ratio is presently 63.28%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AROW shares. Hovde Group cut their price objective on shares of Arrow Financial from $34.50 to $32.00 and set a “market perform” rating on the stock in a research report on Friday, December 27th. Piper Sandler reduced their price objective on shares of Arrow Financial from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th.

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.