Carl P. Sherr & Co. LLC Buys Shares of 7,520 Arrow Financial Co. (NASDAQ:AROW)

Carl P. Sherr & Co. LLC acquired a new stake in shares of Arrow Financial Co. (NASDAQ:AROW) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 7,520 shares of the financial services provider’s stock, valued at approximately $210,000.

Other institutional investors have also added to or reduced their stakes in the company. LPL Financial LLC boosted its position in shares of Arrow Financial by 3.8% during the 2nd quarter. LPL Financial LLC now owns 7,904 shares of the financial services provider’s stock valued at $251,000 after acquiring an additional 292 shares during the last quarter. First Republic Investment Management Inc. lifted its holdings in shares of Arrow Financial by 0.3% during the 1st quarter. First Republic Investment Management Inc. now owns 105,410 shares of the financial services provider’s stock worth $3,417,000 after acquiring an additional 324 shares during the last quarter. MetLife Investment Management LLC increased its stake in Arrow Financial by 4.5% in the fourth quarter. MetLife Investment Management LLC now owns 7,569 shares of the financial services provider’s stock valued at $257,000 after acquiring an additional 328 shares during the last quarter. NBT Bank N A NY boosted its stake in Arrow Financial by 3.0% in the third quarter. NBT Bank N A NY now owns 13,338 shares of the financial services provider’s stock worth $385,000 after buying an additional 387 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its position in Arrow Financial by 71.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 944 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 395 shares during the period. Hedge funds and other institutional investors own 46.71% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Hovde Group assumed coverage on Arrow Financial in a research report on Tuesday, January 9th. They issued a “market perform” rating on the stock.

Arrow Financial Stock Up 0.9 %

Shares of AROW traded up $0.20 on Wednesday, hitting $22.09. 4,450 shares of the stock traded hands, compared to its average volume of 40,599. The company has a market capitalization of $365.59 million, a PE ratio of 12.33 and a beta of 0.70. Arrow Financial Co. has a one year low of $16.65 and a one year high of $29.66. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.90 and a current ratio of 0.90. The business has a 50 day simple moving average of $24.03 and a 200 day simple moving average of $24.16.

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

Arrow Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Monday, February 12th were issued a $0.27 dividend. The ex-dividend date was Friday, February 9th. This represents a $1.08 annualized dividend and a yield of 4.89%. This is a boost from Arrow Financial’s previous quarterly dividend of $0.25. Arrow Financial’s dividend payout ratio (DPR) is currently 60.87%.

About Arrow Financial

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.