Carl P. Sherr & Co. LLC Trims Holdings in Arrow Financial Co. (NASDAQ:AROW)

Carl P. Sherr & Co. LLC reduced its holdings in shares of Arrow Financial Co. (NASDAQ:AROW) by 5.5% in the fourth quarter, HoldingsChannel reports. The fund owned 7,104 shares of the financial services provider’s stock after selling 416 shares during the period. Carl P. Sherr & Co. LLC’s holdings in Arrow Financial were worth $204,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Rhumbline Advisers lifted its holdings in shares of Arrow Financial by 5.6% during the fourth quarter. Rhumbline Advisers now owns 26,162 shares of the financial services provider’s stock valued at $751,000 after purchasing an additional 1,392 shares during the last quarter. SG Americas Securities LLC increased its position in Arrow Financial by 18.5% during the 4th quarter. SG Americas Securities LLC now owns 6,765 shares of the financial services provider’s stock valued at $194,000 after buying an additional 1,056 shares in the last quarter. Trust Co. of Vermont raised its stake in Arrow Financial by 49.5% during the fourth quarter. Trust Co. of Vermont now owns 57,365 shares of the financial services provider’s stock valued at $1,647,000 after buying an additional 19,000 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Arrow Financial by 137.8% in the third quarter. JPMorgan Chase & Co. now owns 18,702 shares of the financial services provider’s stock worth $536,000 after acquiring an additional 10,838 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Arrow Financial by 251.9% in the third quarter. Barclays PLC now owns 21,411 shares of the financial services provider’s stock worth $614,000 after acquiring an additional 15,327 shares during the last quarter. Institutional investors own 46.71% of the company’s stock.

Insider Transactions at Arrow Financial

In other Arrow Financial news, Director Raymond F. O’conor sold 2,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $25.28, for a total value of $50,560.00. Following the transaction, the director now owns 35,022 shares of the company’s stock, valued at approximately $885,356.16. This represents a 5.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel James White bought 3,668 shares of the company’s stock in a transaction on Friday, January 31st. The stock was purchased at an average cost of $27.23 per share, for a total transaction of $99,879.64. Following the completion of the transaction, the director now directly owns 4,338 shares of the company’s stock, valued at approximately $118,123.74. The trade was a 547.46 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 6,000 shares of company stock worth $173,640 over the last three months. 3.55% of the stock is currently owned by company insiders.

Arrow Financial Stock Performance

AROW stock opened at $26.22 on Friday. The stock’s 50 day simple moving average is $27.68 and its 200 day simple moving average is $29.13. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06. Arrow Financial Co. has a 12-month low of $21.50 and a 12-month high of $34.63. The stock has a market capitalization of $438.92 million, a PE ratio of 14.81 and a beta of 0.76.

Arrow Financial (NASDAQ:AROW) last posted its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.12). Arrow Financial had a return on equity of 8.59% and a net margin of 13.32%. As a group, research analysts forecast that Arrow Financial Co. will post 2.65 earnings per share for the current fiscal year.

Arrow Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, February 10th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend is Monday, February 10th. This is an increase from Arrow Financial’s previous quarterly dividend of $0.25. Arrow Financial’s dividend payout ratio (DPR) is presently 63.28%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AROW shares. Piper Sandler lowered their price target on Arrow Financial from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Hovde Group decreased their target price on shares of Arrow Financial from $34.50 to $32.00 and set a “market perform” rating for the company in a report on Friday, December 27th.

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.