Arrow Financial Co. (NASDAQ:AROW) Shares Acquired by Trust Co. of Vermont

Trust Co. of Vermont boosted its position in shares of Arrow Financial Co. (NASDAQ:AROW) by 49.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 57,365 shares of the financial services provider’s stock after acquiring an additional 19,000 shares during the period. Trust Co. of Vermont’s holdings in Arrow Financial were worth $1,647,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its position in shares of Arrow Financial by 13.7% in the 2nd quarter. American Century Companies Inc. now owns 266,651 shares of the financial services provider’s stock valued at $6,946,000 after purchasing an additional 32,158 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Arrow Financial by 136.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 55,050 shares of the financial services provider’s stock valued at $1,578,000 after acquiring an additional 31,741 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Arrow Financial by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 700,253 shares of the financial services provider’s stock worth $18,241,000 after acquiring an additional 31,268 shares in the last quarter. Arrow Financial Corp increased its position in shares of Arrow Financial by 1.2% in the 3rd quarter. Arrow Financial Corp now owns 1,969,793 shares of the financial services provider’s stock worth $56,454,000 after purchasing an additional 23,198 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of Arrow Financial by 251.9% in the 3rd quarter. Barclays PLC now owns 21,411 shares of the financial services provider’s stock valued at $614,000 after purchasing an additional 15,327 shares in the last quarter. Hedge funds and other institutional investors own 46.71% of the company’s stock.

Insider Activity at Arrow Financial

In other news, Director Raymond F. O’conor sold 2,000 shares of Arrow Financial 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 sale, the director now owns 37,859 shares of the company’s stock, valued at approximately $1,237,610.71. The trade was a 5.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 6,000 shares of company stock worth $180,080 in the last ninety days. 3.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AROW has been the subject of several research analyst reports. Piper Sandler started coverage on Arrow Financial in a report on Friday, December 20th. They issued a “neutral” rating and a $32.00 price objective for the company. Hovde Group lowered 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 research note on Friday, December 27th.

Arrow Financial Stock Up 0.4 %

NASDAQ:AROW opened at $27.39 on Friday. The firm has a market capitalization of $458.51 million, a PE ratio of 13.97 and a beta of 0.77. Arrow Financial Co. has a 52 week low of $21.50 and a 52 week 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 has a 50 day moving average of $30.41 and a 200-day moving average of $29.45.

Arrow Financial (NASDAQ:AROW) last issued its earnings results on Thursday, October 31st. The financial services provider reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. Arrow Financial had a return on equity of 8.59% and a net margin of 15.00%. The firm had revenue of $57.58 million for the quarter. Analysts predict that Arrow Financial Co. will post 2.11 EPS for the current year.

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.