Gallagher Fiduciary Advisors LLC Grows Position in Arrow Financial Co. (NASDAQ:AROW)

Gallagher Fiduciary Advisors LLC increased its holdings in shares of Arrow Financial Co. (NASDAQ:AROW) by 17.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,905 shares of the financial services provider’s stock after purchasing an additional 3,028 shares during the quarter. Gallagher Fiduciary Advisors LLC’s holdings in Arrow Financial were worth $571,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in shares of Arrow Financial during the fourth quarter valued at about $1,072,000. American Century Companies Inc. increased its holdings in Arrow Financial by 4.3% in the 4th quarter. American Century Companies Inc. now owns 304,964 shares of the financial services provider’s stock valued at $8,756,000 after purchasing an additional 12,581 shares during the last quarter. Citizens Financial Group Inc. RI purchased a new stake in Arrow Financial in the fourth quarter valued at approximately $319,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Arrow Financial by 42.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 78,548 shares of the financial services provider’s stock worth $2,255,000 after purchasing an additional 23,498 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of Arrow Financial by 251.9% during the third quarter. Barclays PLC now owns 21,411 shares of the financial services provider’s stock worth $614,000 after buying an additional 15,327 shares during the period. 46.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. StockNews.com lowered Arrow Financial from a “hold” rating to a “sell” rating in a research note on Thursday, April 17th. Piper Sandler reduced their price target 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.

Insider Activity at Arrow Financial

In related news, Director Raymond F. O’conor sold 2,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $25.28, for a total value of $50,560.00. Following the transaction, the director now owns 35,022 shares of the company’s stock, valued at $885,356.16. This represents a 5.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 8,000 shares of company stock valued at $203,800 over the last 90 days. 3.55% of the stock is owned by corporate insiders.

Arrow Financial Stock Performance

NASDAQ:AROW opened at $24.40 on Friday. Arrow Financial Co. has a 52 week low of $22.72 and a 52 week high of $34.63. The company has a fifty day simple moving average of $25.48 and a two-hundred day simple moving average of $28.00. 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 company has a market cap of $407.92 million, a price-to-earnings ratio of 13.79 and a beta of 0.71.

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

Arrow Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Tuesday, May 13th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.59%. Arrow Financial’s payout ratio is 63.28%.

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.