Arrow Financial Corp Increases Holdings in Arrow Financial Co.

In the 3rd quarter, Arrow Financial Corp has increased its stake in Arrow Financial Co. (NASDAQ:AROW) by 1.2%, as reported in the company's latest filing with the Securities and Exchange Commission. Following this transaction, Arrow Financial Corp now owns a total of 1,969,793 shares of the financial services provider after purchasing an additional 23,198 shares during this period. This investment constitutes approximately 5.2% of Arrow Financial Corp's overall portfolio, making it the third largest position in their holdings. At present, the value of Arrow Financial shares held by Arrow Financial Corp is approximately $56,454,000, which represents around 11.77% of the company's total assets according to their recent SEC filing.

Various other significant investors have also engaged in buying and selling Arrow Financial shares. For instance, BNP Paribas Financial Markets increased its ownership by an impressive 90.9% during the first quarter, now holding 7,263 shares worth around $182,000 after acquiring an additional 3,459 shares in the last quarter. Similarly, Empowered Funds LLC raised its investment in Arrow Financial by 7.7% during the same period, resulting in a new total of 26,764 shares valued at $670,000 after purchasing an extra 1,925 shares last quarter. ClariVest Asset Management LLC similarly expanded its position by 19.7%, owning 36,230 shares valued at approximately $906,000 after adding 5,952 shares.

Recent Insider Transactions

In other news regarding Arrow Financial, Director Raymond F. O'Conor sold 2,000 shares on October 1st, with an average sale price of $28.04 totaling $56,080. Following this transaction, he retains ownership of 41,176 shares, valued at roughly $1,154,575.04. This sale reflected a negligible change of 0.00% in his shareholding percentage. Additionally, over the last quarter, insiders sold a combined total of 8,000 shares valued at $229,520, indicating that insiders collectively hold about 3.55% of the company's stock.

Stock Performance Overview

On Friday, the shares of AROW opened at $33.00, and Arrow Financial Co. has a current market capitalization of $552.09 million. The company displays a price-to-earnings ratio of 16.84 and a beta of 0.72. Its 50-day and 200-day moving averages are $29.00 and $27.34, respectively. The financial establishment reports a current ratio and a quick ratio of 0.92, along with a rather low debt-to-equity ratio of 0.07. Over the past year, Arrow Financial Co.'s stock has fluctuated, achieving a low of $21.50 and a high of $33.49.

Arrow Financial recently announced its quarterly earnings results on October 31st, revealing an earnings-per-share (EPS) of $0.53, which met analysts' expectations. The company has shown a return on equity of 8.67% and holds a net margin of 15.00%, having generated revenues of $57.58 million for that quarter.

Dividend Update

The company has also announced an increase in its quarterly dividend, which was disbursed on October 29th. Shareholders who were recorded as of October 15th received a dividend payment of $0.28 per share, an increase from the previous quarter’s dividend of $0.27 per share. This annualizes to a total dividend of $1.12, corresponding to a dividend yield of 3.39% with a payout ratio of 57.14%.

Analyst Ratings Update

Recently, several analysts have expressed their views on Arrow Financial shares. In a report dated September 9th, the Hovde Group initiated coverage with a “market perform” rating and set a price target of $31.00 for the stock. Furthermore, on July 30th, StockNews.com upgraded Arrow Financial shares from a “sell” rating to a “hold” rating.

Company Overview

Arrow Financial Corporation is a bank holding company that offers a variety of commercial and consumer banking services along with financial products. Its deposit offerings include demand deposits, interest-bearing checking accounts, savings accounts, time deposits, among other forms of deposits. The lending services provided encompass commercial loans, which include term loans and lines of credit, alongside commercial real estate loans for purchasing or refinancing properties.

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