Sei Investments Co. Acquires Shares of 18,696 Arrow Financial Corporation $AROW

Sei Investments Co. bought a new position in Arrow Financial Corporation (NASDAQ:AROW) during the 1st quarter, HoldingsChannel reports. The fund bought 18,696 shares of the financial services provider’s stock, valued at approximately $628,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. grew its holdings in shares of Arrow Financial by 2,045.1% during the third quarter. Russell Investments Group Ltd. now owns 1,523 shares of the financial services provider’s stock valued at $43,000 after buying an additional 1,452 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Arrow Financial by 67.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,612 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 648 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Arrow Financial by 27.7% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,557 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 338 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Arrow Financial by 306.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,390 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 1,802 shares in the last quarter. Finally, LSV Asset Management purchased a new stake in Arrow Financial during the 4th quarter valued at $75,000. Institutional investors own 46.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on AROW. Piper Sandler reissued an “overweight” rating and issued a $46.00 target price (up from $43.00) on shares of Arrow Financial in a report on Tuesday, July 28th. Zacks Research raised Arrow Financial to a “hold” rating in a report on Monday, June 15th. Keefe, Bruyette & Woods initiated coverage on Arrow Financial in a research report on Thursday, June 25th. They set a “market perform” rating and a $42.00 price objective on the stock. Wall Street Zen downgraded Arrow Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Arrow Financial in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $40.83.

Arrow Financial Stock Up 0.5%

Shares of Arrow Financial stock opened at $39.25 on Friday. Arrow Financial Corporation has a twelve month low of $25.88 and a twelve month high of $42.70. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $40.02 and its 200 day moving average is $36.76. The company has a market cap of $726.91 million, a price-to-earnings ratio of 12.66 and a beta of 0.76.

Arrow Financial (NASDAQ:AROW) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.14). Arrow Financial had a return on equity of 12.13% and a net margin of 20.56%.The company had revenue of $52.44 million during the quarter, compared to the consensus estimate of $45.51 million. Research analysts anticipate that Arrow Financial Corporation will post 3.55 EPS for the current year.

Arrow Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, August 11th. Arrow Financial’s dividend payout ratio (DPR) is 38.71%.

Insider Activity

In other news, Director Mark Behan sold 4,110 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $38.59, for a total value of $158,604.90. Following the transaction, the director directly owned 8,929 shares in the company, valued at $344,570.11. This trade represents a 31.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.48% of the stock is currently owned by company insiders.

Arrow Financial Profile

Arrow Financial Corporation is a bank holding company headquartered in Glens Falls, New York, that conducts its primary operations through its subsidiary, Glens Falls National Bank & Trust Company. The company provides a comprehensive suite of retail and commercial banking services, including checking and savings accounts, consumer and commercial lending, mortgage financing, and cash management solutions. Through its branch network, Arrow Financial serves individuals, small- and medium-sized businesses, and nonprofit organizations across the Adirondack region, Upper Hudson Valley, Mohawk Valley and parts of Central New York.

In addition to traditional banking, Arrow Financial has developed a robust wealth management and trust services division.