Arrow Financial Corp boosted its position in Arrow Financial Co. (NASDAQ:AROW – Get Rating) by 3.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,576,398 shares of the financial services provider’s stock after acquiring an additional 50,451 shares during the period. Arrow Financial accounts for about 6.6% of Arrow Financial Corp’s holdings, making the stock its 2nd biggest position. Arrow Financial Corp owned approximately 9.56% of Arrow Financial worth $45,432,000 at the end of the most recent reporting period.
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A number of other large investors also recently modified their holdings of the stock. King Wealth increased its stake in shares of Arrow Financial by 8.5% during the second quarter. King Wealth now owns 12,828 shares of the financial services provider’s stock valued at $408,000 after purchasing an additional 1,000 shares in the last quarter. Los Angeles Capital Management LLC raised its position in Arrow Financial by 3.0% during the third quarter. Los Angeles Capital Management LLC now owns 10,390 shares of the financial services provider’s stock valued at $299,000 after purchasing an additional 301 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of Arrow Financial in the 3rd quarter valued at approximately $456,000. Financial Counselors Inc. increased its holdings in Arrow Financial by 3.0% during the 3rd quarter. Financial Counselors Inc. now owns 15,102 shares of the financial services provider’s stock worth $435,000 after purchasing an additional 437 shares during the period. Finally, IFG Advisory LLC increased its holdings in shares of Arrow Financial by 5.1% in the 3rd quarter. IFG Advisory LLC now owns 9,193 shares of the financial services provider’s stock valued at $264,000 after acquiring an additional 443 shares during the period. Institutional investors own 44.18% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently issued reports on AROW. StockNews.com started coverage on shares of Arrow Financial in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Piper Sandler dropped their target price on shares of Arrow Financial to $33.00 in a research report on Wednesday, October 5th.
Arrow Financial Stock Up 0.3 %
Shares of NASDAQ AROW traded up $0.09 during midday trading on Friday, reaching $32.96. 12,256 shares of the company’s stock were exchanged, compared to its average volume of 15,193. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 0.86. The business’s fifty day moving average price is $34.10 and its two-hundred day moving average price is $33.09. Arrow Financial Co. has a 52-week low of $28.50 and a 52-week high of $36.51. The stock has a market capitalization of $544.83 million, a PE ratio of 11.62 and a beta of 0.67.
Arrow Financial (NASDAQ:AROW – Get Rating) last released its quarterly earnings data on Thursday, October 27th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.06. Arrow Financial had a net margin of 30.65% and a return on equity of 13.15%. The company had revenue of $38.73 million during the quarter, compared to the consensus estimate of $36.80 million. Analysts forecast that Arrow Financial Co. will post 3.02 EPS for the current year.
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 improvements to commercial properties, as well as commercial construction and land development loans to finance projects.
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