Walthausen & Co. LLC Increases Stock Position in Arrow Financial Co. (NASDAQ:AROW)

Walthausen & Co. LLC raised its position in shares of Arrow Financial Co. (NASDAQ:AROW) by 7.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,060 shares of the financial services provider’s stock after buying an additional 3,159 shares during the period. Walthausen & Co. LLC owned about 0.31% of Arrow Financial worth $1,741,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. First Trust Advisors LP boosted its stake in shares of Arrow Financial by 1.3% in the first quarter. First Trust Advisors LP now owns 26,381 shares of the financial services provider’s stock valued at $868,000 after buying an additional 327 shares in the last quarter. Metropolitan Life Insurance Co NY increased its stake in shares of Arrow Financial by 14.5% in the third quarter. Metropolitan Life Insurance Co NY now owns 4,533 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 574 shares during the period. California Public Employees Retirement System increased its stake in shares of Arrow Financial by 2.3% in the fourth quarter. California Public Employees Retirement System now owns 33,502 shares of the financial services provider’s stock worth $1,266,000 after purchasing an additional 758 shares during the period. Swiss National Bank increased its stake in Arrow Financial by 3.2% during the fourth quarter. Swiss National Bank now owns 25,788 shares of the financial services provider’s stock valued at $975,000 after acquiring an additional 800 shares during the period. Finally, California State Teachers Retirement System increased its stake in Arrow Financial by 4.2% during the third quarter. California State Teachers Retirement System now owns 19,880 shares of the financial services provider’s stock valued at $664,000 after acquiring an additional 809 shares during the period. 42.47% of the stock is owned by institutional investors and hedge funds.

Shares of AROW traded up $2.64 during mid-day trading on Thursday, hitting $28.26. 39,300 shares of the company’s stock were exchanged, compared to its average volume of 30,073. Arrow Financial Co. has a 52 week low of $20.78 and a 52 week high of $38.31. The stock’s 50-day simple moving average is $31.62 and its 200-day simple moving average is $34.48. The firm has a market cap of $395.63 million, a price-to-earnings ratio of 11.28 and a beta of 0.65. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.61.

Arrow Financial (NASDAQ:AROW) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $0.65 EPS for the quarter. The company had revenue of $30.00 million for the quarter. Arrow Financial had a net margin of 27.09% and a return on equity of 12.98%. Analysts forecast that Arrow Financial Co. will post 2.43 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Tuesday, March 3rd were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.04 annualized dividend and a dividend yield of 3.68%. Arrow Financial’s dividend payout ratio is 41.60%.

AROW has been the topic of several recent analyst reports. ValuEngine downgraded Arrow Financial from a “hold” rating to a “sell” rating in a report on Wednesday, March 4th. BidaskClub cut shares of Arrow Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, March 11th. Zacks Investment Research cut shares of Arrow Financial from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, TheStreet cut shares of Arrow Financial from a “b” rating to a “c+” rating in a research report on Wednesday, March 18th.

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.

Further Reading: CD Ladder

Institutional Ownership by Quarter for Arrow Financial (NASDAQ:AROW)

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