Arrow Financial Co. (NASDAQ:AROW) Shares Sold by King Wealth Management Group

King Wealth Management Group cut its stake in shares of Arrow Financial Co. (NASDAQ:AROW) by 7.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 8,957 shares of the financial services provider’s stock after selling 706 shares during the period. King Wealth Management Group owned about 0.05% of Arrow Financial worth $257,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Arrow Financial Corp increased its holdings in shares of Arrow Financial by 1.2% in the third quarter. Arrow Financial Corp now owns 1,969,793 shares of the financial services provider’s stock valued at $56,454,000 after purchasing an additional 23,198 shares during the last quarter. Atria Investments Inc raised its holdings in shares of Arrow Financial by 32.6% in the 3rd quarter. Atria Investments Inc now owns 16,856 shares of the financial services provider’s stock valued at $483,000 after buying an additional 4,148 shares during the period. Private Advisor Group LLC lifted its position in shares of Arrow Financial by 26.7% during the third quarter. Private Advisor Group LLC now owns 25,257 shares of the financial services provider’s stock worth $724,000 after purchasing an additional 5,323 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Arrow Financial during the 3rd quarter worth approximately $164,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Arrow Financial by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 700,253 shares of the financial services provider’s stock valued at $18,241,000 after acquiring an additional 31,268 shares in the last quarter. 46.71% of the stock is owned by hedge funds and other institutional investors.

Arrow Financial Trading Down 0.2 %

Shares of AROW stock opened at $33.55 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.93 and a quick ratio of 0.92. Arrow Financial Co. has a 1-year low of $21.50 and a 1-year high of $34.63. The business’s fifty day moving average price is $29.25 and its 200 day moving average price is $27.60. The firm has a market capitalization of $561.63 million, a PE ratio of 17.12 and a beta of 0.72.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. The firm had revenue of $57.58 million during the quarter. Arrow Financial had a return on equity of 8.59% and a net margin of 15.00%.

Arrow Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Tuesday, October 15th were paid 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 annualized dividend and a dividend yield of 3.34%. The ex-dividend date was Tuesday, October 15th. Arrow Financial’s dividend payout ratio is 57.14%.

Wall Street Analyst Weigh In

AROW has been the subject of several recent analyst reports. Hovde Group assumed coverage on shares of Arrow Financial in a research report on Monday, September 9th. They set a “market perform” rating and a $31.00 price objective for the company. StockNews.com upgraded Arrow Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th.

Insider Activity at Arrow Financial

In related news, Director Raymond F. O’conor sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $28.04, for a total value of $56,080.00. Following the sale, the director now directly owns 41,176 shares in the company, valued at $1,154,575.04. This trade represents a 4.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 6,000 shares of company stock valued at $173,260 over the last three months. 3.55% of the stock is owned by insiders.

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.