Los Angeles Capital Management LLC Purchases Shares of 10,450 Arrow Financial Corporation $AROW

Los Angeles Capital Management LLC acquired a new position in shares of Arrow Financial Corporation (NASDAQ:AROW) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 10,450 shares of the financial services provider’s stock, valued at approximately $276,000.

Other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Arrow Financial by 4.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,796 shares of the financial services provider’s stock valued at $258,000 after purchasing an additional 390 shares during the period. Angel Oak Capital Advisors LLC purchased a new position in Arrow Financial in the first quarter valued at $289,000. Acadian Asset Management LLC acquired a new position in shares of Arrow Financial in the first quarter worth about $311,000. AQR Capital Management LLC raised its position in shares of Arrow Financial by 31.0% in the first quarter. AQR Capital Management LLC now owns 12,470 shares of the financial services provider’s stock worth $328,000 after acquiring an additional 2,949 shares during the period. Finally, HighTower Advisors LLC boosted its stake in shares of Arrow Financial by 4.9% during the 1st quarter. HighTower Advisors LLC now owns 14,610 shares of the financial services provider’s stock worth $384,000 after acquiring an additional 688 shares in the last quarter. 46.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on AROW. Weiss Ratings restated a “hold (c+)” rating on shares of Arrow Financial in a research note on Thursday. Hovde Group upgraded Arrow Financial from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $28.50 to $33.50 in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Arrow Financial presently has a consensus rating of “Hold” and a consensus target price of $30.75.

Insider Activity at Arrow Financial

In other Arrow Financial news, Director Daniel James White bought 1,644 shares of the stock in a transaction on Monday, November 10th. The shares were bought at an average price of $30.14 per share, with a total value of $49,550.16. Following the purchase, the director directly owned 6,890 shares in the company, valued at $207,664.60. This trade represents a 31.34% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Penko Krassimir Ivanov bought 1,620 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were acquired at an average cost of $29.82 per share, with a total value of $48,308.40. Following the acquisition, the chief financial officer directly owned 26,394 shares of the company’s stock, valued at approximately $787,069.08. This represents a 6.54% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 20,264 shares of company stock valued at $596,879 over the last quarter. 3.28% of the stock is owned by company insiders.

Arrow Financial Stock Down 1.2%

AROW stock opened at $30.73 on Monday. Arrow Financial Corporation has a 52 week low of $22.72 and a 52 week high of $34.47. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06. The firm has a 50-day simple moving average of $28.41 and a 200-day simple moving average of $27.44. The stock has a market capitalization of $505.26 million, a P/E ratio of 16.79 and a beta of 0.83.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. Arrow Financial had a net margin of 13.28% and a return on equity of 8.64%. The firm had revenue of $8.07 million for the quarter, compared to analyst estimates of $41.00 million. Equities analysts forecast that Arrow Financial Corporation will post 2.65 earnings per share for the current fiscal year.

Arrow Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 24th. Stockholders of record on Wednesday, November 12th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.8%. Arrow Financial’s payout ratio is currently 56.04%.

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.