Arrow Financial Co. (NASDAQ:AROW – Get Free Report) was the recipient of a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 153,400 shares, a decline of 6.1% from the September 30th total of 163,300 shares. Based on an average daily trading volume, of 35,700 shares, the short-interest ratio is presently 4.3 days.
Insider Buying and Selling at Arrow Financial
In other news, Director Raymond F. O’conor sold 2,000 shares of Arrow Financial stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $30.09, for a total value of $60,180.00. Following the transaction, the director now directly owns 43,176 shares of the company’s stock, valued at $1,299,165.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders sold 6,000 shares of company stock valued at $172,520. 3.55% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Arrow Financial
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. American Century Companies Inc. grew its holdings in 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 purchasing an additional 32,158 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Arrow Financial by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 700,253 shares of the financial services provider’s stock worth $18,241,000 after acquiring an additional 31,268 shares during the period. Vanguard Group Inc. boosted its position in shares of Arrow Financial by 1.4% during the 1st 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. BNP Paribas Financial Markets grew its stake in shares of Arrow Financial by 90.9% in the 1st quarter. BNP Paribas Financial Markets now owns 7,263 shares of the financial services provider’s stock valued at $182,000 after purchasing an additional 3,459 shares during the period. Finally, Empowered Funds LLC grew its holdings in shares of Arrow Financial by 7.7% in the 1st quarter. Empowered Funds LLC now owns 26,764 shares of the financial services provider’s stock worth $670,000 after purchasing an additional 1,925 shares during the last quarter. 46.71% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
View Our Latest Stock Report on AROW
Arrow Financial Trading Down 0.0 %
Shares of NASDAQ:AROW opened at $29.34 on Thursday. Arrow Financial has a 12-month low of $21.00 and a 12-month high of $32.92. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $489.92 million, a P/E ratio of 17.06 and a beta of 0.72. The firm has a fifty day moving average of $28.92 and a two-hundred day moving average of $26.97.
Arrow Financial Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 29th. Shareholders of record on Tuesday, October 15th were paid a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.12 dividend on an annualized basis and a yield of 3.82%. This is an increase from Arrow Financial’s previous quarterly dividend of $0.27. Arrow Financial’s payout ratio is 65.12%.
About Arrow Financial
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.
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