Midwest Trust Co Takes Position in Arrow Financial Corporation $AROW

Midwest Trust Co acquired a new stake in shares of Arrow Financial Corporation (NASDAQ:AROW) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 16,862 shares of the financial services provider’s stock, valued at approximately $445,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AROW. Vanguard Group Inc. raised its stake in shares of Arrow Financial by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 833,728 shares of the financial services provider’s stock worth $21,919,000 after purchasing an additional 30,459 shares in the last quarter. Nuveen LLC bought a new stake in shares of Arrow Financial in the 1st quarter valued at approximately $1,530,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Arrow Financial in the 1st quarter valued at approximately $482,000. Angel Oak Capital Advisors LLC acquired a new position in Arrow Financial in the first quarter worth approximately $289,000. Finally, Deutsche Bank AG raised its position in Arrow Financial by 268.2% during the first quarter. Deutsche Bank AG now owns 42,407 shares of the financial services provider’s stock valued at $1,115,000 after acquiring an additional 30,891 shares in the last quarter. Hedge funds and other institutional investors own 46.71% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on AROW. Hovde Group raised shares of Arrow Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $28.50 to $33.50 in a research report on Friday, October 31st. Weiss Ratings restated a “hold (c)” rating on shares of Arrow Financial in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $30.75.

Arrow Financial Trading Down 1.2%

Shares of AROW stock opened at $30.60 on Thursday. Arrow Financial Corporation has a 12 month low of $22.72 and a 12 month high of $34.51. The company has a market cap of $503.95 million, a PE ratio of 16.72 and a beta of 0.83. 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 business’s 50 day moving average is $28.36 and its two-hundred day moving average is $27.34.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.77 earnings per share for the quarter, topping 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 business had revenue of $8.07 million during the quarter, compared to analysts’ expectations of $41.00 million. Equities analysts predict that Arrow Financial Corporation will post 2.65 EPS for the current year.

Arrow Financial Dividend Announcement

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

Arrow Financial 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.