Charles Schwab Investment Management Inc. Increases Holdings in Arrow Financial Co. (NASDAQ:AROW)

Charles Schwab Investment Management Inc. grew its holdings in shares of Arrow Financial Co. (NASDAQ:AROW) by 0.6% during the 4th quarter, HoldingsChannel reports. The fund owned 126,779 shares of the financial services provider’s stock after acquiring an additional 786 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Arrow Financial were worth $3,640,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Barclays PLC raised its position in Arrow Financial by 251.9% in the 3rd quarter. Barclays PLC now owns 21,411 shares of the financial services provider’s stock worth $614,000 after purchasing an additional 15,327 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Arrow Financial by 137.8% during the third quarter. JPMorgan Chase & Co. now owns 18,702 shares of the financial services provider’s stock valued at $536,000 after buying an additional 10,838 shares during the last quarter. Trust Co. of Vermont increased its holdings in shares of Arrow Financial by 49.5% in 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 during the period. BNP Paribas Financial Markets grew its position in Arrow Financial by 13.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider’s stock worth $99,000 after acquiring an additional 398 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Arrow Financial by 0.3% during the third quarter. State Street Corp now owns 393,719 shares of the financial services provider’s stock valued at $11,284,000 after purchasing an additional 1,022 shares during the period. 46.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Arrow Financial Trading Up 2.6 %

NASDAQ:AROW opened at $26.86 on Thursday. 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 Co. has a 12 month low of $21.50 and a 12 month high of $34.63. The company has a 50-day moving average price of $26.72 and a 200-day moving average price of $28.71. The stock has a market cap of $449.05 million, a price-to-earnings ratio of 15.18 and a beta of 0.73.

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

Arrow Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Monday, February 10th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 4.17%. This is a positive change from Arrow Financial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, February 10th. Arrow Financial’s dividend payout ratio (DPR) is presently 63.28%.

Insider Transactions at Arrow Financial

In other Arrow Financial news, Director Raymond F. O’conor sold 2,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $26.90, for a total transaction of $53,800.00. Following the transaction, the director now owns 33,022 shares in the company, valued at approximately $888,291.80. This represents a 5.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel James White purchased 3,668 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were bought at an average cost of $27.23 per share, for a total transaction of $99,879.64. Following the acquisition, the director now owns 4,338 shares in the company, valued at approximately $118,123.74. The trade was a 547.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 6,000 shares of company stock valued at $162,060 in the last ninety days. 3.55% of the stock is currently owned by corporate 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.