Arrow Financial Co. (NASDAQ:AROW) Stock Holdings Lowered by King Wealth Management Group

King Wealth Management Group decreased its position in Arrow Financial Co. (NASDAQ:AROW) by 7.3% in the third quarter, HoldingsChannel reports. The firm owned 8,957 shares of the financial services provider’s stock after selling 706 shares during the period. King Wealth Management Group’s holdings in Arrow Financial were worth $257,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AROW. Acadian Asset Management LLC bought a new position in shares of Arrow Financial in the 1st quarter valued at approximately $157,000. SG Americas Securities LLC acquired a new stake in shares of Arrow Financial during the 3rd quarter worth about $164,000. BNP Paribas Financial Markets raised its position in Arrow Financial by 90.9% in the 1st quarter. BNP Paribas Financial Markets now owns 7,263 shares of the financial services provider’s stock valued at $182,000 after purchasing an additional 3,459 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new position in Arrow Financial during the 1st quarter worth about $201,000. Finally, IFG Advisory LLC bought a new stake in shares of Arrow Financial during the second quarter valued at approximately $207,000. 46.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Arrow Financial

In other Arrow Financial news, Director Raymond F. O’conor sold 2,000 shares of the business’s stock in a transaction 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 transaction, the director now owns 41,176 shares of the company’s stock, valued at approximately $1,154,575.04. The trade was a 4.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 6,000 shares of company stock worth $173,260. 3.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on AROW. Hovde Group initiated coverage on shares of Arrow Financial in a research report on Monday, September 9th. They set a “market perform” rating and a $31.00 target price on the stock. StockNews.com upgraded Arrow Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th.

Arrow Financial Stock Down 0.2 %

Arrow Financial stock opened at $33.55 on Friday. The company’s 50-day moving average price is $29.25 and its two-hundred day moving average price is $27.60. The stock has a market cap of $561.63 million, a P/E ratio of 17.12 and a beta of 0.72. Arrow Financial Co. has a twelve month low of $21.50 and a twelve month high of $34.63. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.06.

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

Arrow Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Tuesday, October 15th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend was Tuesday, October 15th. This is a boost from Arrow Financial’s previous quarterly dividend of $0.27. Arrow Financial’s dividend payout ratio is 57.14%.

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.