Legato Capital Management LLC Buys Shares of 15,082 Arrow Financial Corporation $AROW

Legato Capital Management LLC bought a new stake in Arrow Financial Corporation (NASDAQ:AROW) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 15,082 shares of the financial services provider’s stock, valued at approximately $474,000. Legato Capital Management LLC owned approximately 0.09% of Arrow Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in shares of Arrow Financial by 31.0% in the first quarter. AQR Capital Management LLC now owns 12,470 shares of the financial services provider’s stock valued at $328,000 after buying an additional 2,949 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Arrow Financial by 4.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,796 shares of the financial services provider’s stock valued at $258,000 after buying an additional 390 shares during the period. Jane Street Group LLC boosted its holdings in shares of Arrow Financial by 131.3% in the first quarter. Jane Street Group LLC now owns 27,272 shares of the financial services provider’s stock valued at $717,000 after buying an additional 15,482 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Arrow Financial in the first quarter valued at approximately $311,000. Finally, Rhumbline Advisers boosted its holdings in shares of Arrow Financial by 1.5% in the second quarter. Rhumbline Advisers now owns 25,307 shares of the financial services provider’s stock valued at $669,000 after buying an additional 367 shares during the period. Institutional investors own 46.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Arrow Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings upgraded shares of Arrow Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Finally, Hovde Group upped their price target on shares of Arrow Financial from $33.50 to $34.50 and gave the company a “market perform” rating in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $34.50.

Arrow Financial Stock Down 1.5%

Arrow Financial stock opened at $36.87 on Thursday. Arrow Financial Corporation has a twelve month low of $24.57 and a twelve month high of $38.09. The company has a 50 day moving average of $35.46 and a 200-day moving average of $33.52. The stock has a market capitalization of $609.46 million, a PE ratio of 11.93 and a beta of 0.78. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.06.

Arrow Financial (NASDAQ:AROW) last announced its earnings results on Thursday, April 30th. The financial services provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.79 by $0.06. Arrow Financial had a net margin of 20.72% and a return on equity of 12.38%. The business had revenue of $53.39 million during the quarter, compared to analysts’ expectations of $43.80 million.

Arrow Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, May 12th. This represents a $1.20 annualized dividend and a yield of 3.3%. Arrow Financial’s dividend payout ratio is presently 38.83%.

About Arrow Financial

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.