Arrow Financial Co. (NASDAQ:AROW) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets boosted its position in shares of Arrow Financial Co. (NASDAQ:AROW) by 13.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,449 shares of the financial services provider’s stock after buying an additional 398 shares during the period. BNP Paribas Financial Markets’ holdings in Arrow Financial were worth $99,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AROW. SG Americas Securities LLC purchased a new position in shares of Arrow Financial during the third quarter worth approximately $164,000. IFG Advisory LLC acquired a new stake in Arrow Financial during the 2nd quarter worth $207,000. Atria Investments Inc grew its position in Arrow Financial by 32.6% during the 3rd quarter. Atria Investments Inc now owns 16,856 shares of the financial services provider’s stock worth $483,000 after purchasing an additional 4,148 shares during the last quarter. Private Advisor Group LLC increased its stake in Arrow Financial by 74.1% in the second quarter. Private Advisor Group LLC now owns 19,934 shares of the financial services provider’s stock valued at $519,000 after purchasing an additional 8,483 shares during the period. Finally, Rhumbline Advisers increased its stake in Arrow Financial by 6.4% in the second quarter. Rhumbline Advisers now owns 24,650 shares of the financial services provider’s stock valued at $642,000 after purchasing an additional 1,485 shares during the period. Hedge funds and other institutional investors own 46.71% of the company’s stock.

Arrow Financial Trading Down 5.7 %

NASDAQ:AROW opened at $29.05 on Thursday. Arrow Financial Co. has a 12-month low of $21.50 and a 12-month high of $34.63. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06. The stock’s 50 day simple moving average is $31.16 and its 200-day simple moving average is $29.02. The firm has a market cap of $486.27 million, a P/E ratio of 14.82 and a beta of 0.75.

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

Arrow Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Tuesday, October 15th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.86%. This is a positive change from Arrow Financial’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, October 15th. Arrow Financial’s payout ratio is 57.14%.

Insider Buying and Selling

In other Arrow Financial news, Director Raymond F. O’conor sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $32.69, for a total transaction of $65,380.00. Following the transaction, the director now owns 37,859 shares in the company, valued at approximately $1,237,610.71. The trade was a 5.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold 6,000 shares of company stock valued at $178,460 over the last ninety days. Corporate insiders own 3.55% of the company’s stock.

Analysts Set New Price Targets

Separately, Hovde Group began coverage on Arrow Financial in a report on Monday, September 9th. They set a “market perform” rating and a $31.00 price target on the stock.

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.