Johnson Investment Counsel Inc. Makes New $1.63 Million Investment in Arrow Financial Co. (NASDAQ:AROW)

Johnson Investment Counsel Inc. acquired a new position in shares of Arrow Financial Co. (NASDAQ:AROW) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 45,270 shares of the financial services provider’s stock, valued at approximately $1,627,000. Johnson Investment Counsel Inc. owned approximately 0.29% of Arrow Financial as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. First Trust Advisors LP lifted its holdings 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 worth $868,000 after acquiring an additional 327 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Arrow Financial by 2.6% in the first quarter. Swiss National Bank now owns 35,393 shares of the financial services provider’s stock worth $1,179,000 after acquiring an additional 900 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Arrow Financial by 75.8% in the first quarter. BNP Paribas Arbitrage SA now owns 6,437 shares of the financial services provider’s stock worth $214,000 after acquiring an additional 2,776 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Arrow Financial by 6.4% in the first quarter. BlackRock Inc. now owns 1,197,805 shares of the financial services provider’s stock worth $39,899,000 after acquiring an additional 72,296 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new position in shares of Arrow Financial in the first quarter worth about $251,000. Hedge funds and other institutional investors own 43.73% of the company’s stock.

Shares of NASDAQ AROW opened at $35.74 on Thursday. The company has a 50 day simple moving average of $35.56 and a 200 day simple moving average of $35.71. The firm has a market cap of $573.38 million, a PE ratio of 11.10 and a beta of 0.69. Arrow Financial Co. has a 1 year low of $26.07 and a 1 year high of $38.26. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.90 and a quick ratio of 0.90.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings data on Monday, July 26th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. The business had revenue of $36.84 million during the quarter, compared to analyst estimates of $35.13 million. Arrow Financial had a net margin of 33.86% and a return on equity of 14.78%. As a group, research analysts anticipate that Arrow Financial Co. will post 3.33 earnings per share for the current fiscal year.

The company also recently declared a — dividend, which was paid on Friday, September 24th. Shareholders of record on Friday, September 17th were issued a dividend of $3.00 per share. The ex-dividend date was Thursday, September 16th. This represents a yield of 2.9%. Arrow Financial’s payout ratio is 38.26%.

Separately, Zacks Investment Research lowered shares of Arrow Financial from a “buy” rating to a “hold” rating in a report on Monday, September 27th.

About Arrow Financial

Arrow Financial Corp. is a bank holding company, which engages in the provision of banking and insurance services through its subsidiaries, Glens Falls National and Saratoga National. It offers deposit accounts, lending activitiess, insurance products, and loans. The company was founded on March 21, 1983 and is headquartered in Glens Falls, NY.

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

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