18,696 Shares in Arrow Financial Corporation $AROW Acquired by Sei Investments Co.

Sei Investments Co. purchased a new position in Arrow Financial Corporation (NASDAQ:AROW) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 18,696 shares of the financial services provider’s stock, valued at approximately $628,000. Sei Investments Co. owned 0.11% of Arrow Financial at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Arrow Financial Corp increased its stake in shares of Arrow Financial by 0.8% in the fourth quarter. Arrow Financial Corp now owns 1,871,735 shares of the financial services provider’s stock worth $58,772,000 after buying an additional 14,403 shares during the period. Vanguard Group Inc. raised its stake in shares of Arrow Financial by 2.0% during the third quarter. Vanguard Group Inc. now owns 889,234 shares of the financial services provider’s stock valued at $25,165,000 after acquiring an additional 17,050 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Arrow Financial by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 730,471 shares of the financial services provider’s stock worth $24,522,000 after buying an additional 1,937 shares during the period. Renaissance Technologies LLC lifted its stake in Arrow Financial by 1.2% in the fourth quarter. Renaissance Technologies LLC now owns 252,205 shares of the financial services provider’s stock worth $7,919,000 after acquiring an additional 2,917 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its position in shares of Arrow Financial by 0.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 119,842 shares of the financial services provider’s stock worth $3,763,000 after purchasing an additional 511 shares during the period. Hedge funds and other institutional investors own 46.71% of the company’s stock.

Arrow Financial Trading Up 0.5%

NASDAQ:AROW opened at $39.25 on Friday. Arrow Financial Corporation has a one year low of $25.88 and a one year high of $42.70. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.92 and a quick ratio of 0.92. The company’s 50-day simple moving average is $40.02 and its 200 day simple moving average is $36.76. The firm has a market capitalization of $726.91 million, a P/E ratio of 12.66 and a beta of 0.76.

Arrow Financial (NASDAQ:AROW) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.14). Arrow Financial had a net margin of 20.56% and a return on equity of 12.13%. The business had revenue of $52.44 million for the quarter, compared to the consensus estimate of $45.51 million. As a group, analysts forecast that Arrow Financial Corporation will post 3.55 EPS for the current fiscal year.

Arrow Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, August 11th. This represents a $1.20 dividend on an annualized basis and a yield of 3.1%. Arrow Financial’s payout ratio is presently 38.71%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AROW shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Arrow Financial in a research report on Friday, July 24th. Wall Street Zen lowered Arrow Financial from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Piper Sandler restated an “overweight” rating and issued a $46.00 target price (up from $43.00) on shares of Arrow Financial in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods initiated coverage on Arrow Financial in a research report on Thursday, June 25th. They set a “market perform” rating and a $42.00 price target on the stock. Finally, Zacks Research raised Arrow Financial to a “hold” rating in a research note on Monday, June 15th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Arrow Financial has an average rating of “Hold” and an average price target of $40.83.

Insider Buying and Selling

In other Arrow Financial news, Director Mark Behan sold 4,110 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $38.59, for a total value of $158,604.90. Following the sale, the director directly owned 8,929 shares of the company’s stock, valued at approximately $344,570.11. The trade was a 31.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.48% of the company’s stock.

Arrow Financial Profile

Arrow Financial Corporation is a bank holding company headquartered in Glens Falls, New York, that conducts its primary operations through its subsidiary, Glens Falls National Bank & Trust Company. The company provides a comprehensive suite of retail and commercial banking services, including checking and savings accounts, consumer and commercial lending, mortgage financing, and cash management solutions. Through its branch network, Arrow Financial serves individuals, small- and medium-sized businesses, and nonprofit organizations across the Adirondack region, Upper Hudson Valley, Mohawk Valley and parts of Central New York.

In addition to traditional banking, Arrow Financial has developed a robust wealth management and trust services division.