Arrow Financial Co. (NASDAQ:AROW) Shares Sold by Washington Trust Advisors Inc.

Washington Trust Advisors Inc. decreased its holdings in Arrow Financial Co. (NASDAQ:AROW) by 4.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,510 shares of the financial services provider’s stock after selling 700 shares during the period. Washington Trust Advisors Inc.’s holdings in Arrow Financial were worth $377,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. BlackRock Inc. increased its stake in Arrow Financial by 10.0% during the 2nd quarter. BlackRock Inc. now owns 1,316,558 shares of the financial services provider’s stock worth $26,515,000 after buying an additional 120,210 shares during the period. Rockefeller Capital Management L.P. acquired a new position in shares of Arrow Financial during the second quarter worth about $1,616,000. UBS Group AG increased its stake in shares of Arrow Financial by 468.2% during the first quarter. UBS Group AG now owns 54,695 shares of the financial services provider’s stock worth $1,773,000 after buying an additional 45,069 shares during the period. Morgan Stanley lifted its stake in Arrow Financial by 64.0% in the fourth quarter. Morgan Stanley now owns 115,244 shares of the financial services provider’s stock worth $3,907,000 after acquiring an additional 44,969 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Arrow Financial by 5.8% during the 3rd quarter. Vanguard Group Inc. now owns 724,570 shares of the financial services provider’s stock worth $20,881,000 after acquiring an additional 39,409 shares in the last quarter. 46.71% of the stock is currently owned by hedge funds and other institutional investors.

Arrow Financial Stock Down 0.2 %

Arrow Financial stock traded down $0.04 during mid-day trading on Thursday, hitting $24.84. The company had a trading volume of 6,868 shares, compared to its average volume of 42,744. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.07. Arrow Financial Co. has a 1 year low of $16.65 and a 1 year high of $29.66. The business has a fifty day moving average of $24.70 and a 200 day moving average of $23.54. The stock has a market cap of $411.10 million, a price-to-earnings ratio of 14.02 and a beta of 0.69.

Arrow Financial (NASDAQ:AROW) last released its quarterly earnings results on Thursday, February 1st. The financial services provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.04). Arrow Financial had a return on equity of 8.21% and a net margin of 15.69%. The firm had revenue of $33.10 million for the quarter, compared to analyst estimates of $35.01 million. On average, sell-side analysts expect that Arrow Financial Co. will post 2.33 earnings per share for the current fiscal year.

Arrow Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Monday, February 12th were issued a $0.27 dividend. This is a boost from Arrow Financial’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 4.35%. The ex-dividend date was Friday, February 9th. Arrow Financial’s dividend payout ratio (DPR) is currently 60.87%.

Analyst Ratings Changes

Separately, Hovde Group assumed coverage on shares of Arrow Financial in a research note on Tuesday, January 9th. They set a “market perform” rating for the company.

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.