Gallagher Fiduciary Advisors LLC Purchases Shares of 25,106 Arrow Financial Corporation $AROW

Gallagher Fiduciary Advisors LLC purchased a new stake in Arrow Financial Corporation (NASDAQ:AROW) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 25,106 shares of the financial services provider’s stock, valued at approximately $1,029,000.

A number of other institutional investors have also made changes to their positions in the business. Global Retirement Partners LLC bought a new stake in Arrow Financial during the 2nd quarter valued at approximately $34,000. BNP Paribas Financial Markets increased its position 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 buying an additional 648 shares during the period. Russell Investments Group Ltd. increased its position in Arrow Financial by 2,045.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,523 shares of the financial services provider’s stock worth $43,000 after buying an additional 1,452 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in Arrow Financial by 27.7% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,557 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 338 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew 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 worth $63,000 after purchasing an additional 1,802 shares during the last quarter. 46.71% of the stock is currently owned by institutional investors.

Arrow Financial Trading Down 0.4%

AROW stock opened at $38.18 on Wednesday. Arrow Financial Corporation has a 1-year low of $25.88 and a 1-year high of $42.70. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $40.03 and its 200-day moving average is $37.01. The firm has a market cap of $707.25 million, a P/E ratio of 12.32 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 the consensus estimate of $0.85 by ($0.14). The company had revenue of $52.44 million for the quarter, compared to the consensus estimate of $45.51 million. Arrow Financial had a return on equity of 12.13% and a net margin of 20.56%. Equities analysts anticipate that Arrow Financial Corporation will post 3.55 earnings per share for the current fiscal year.

Arrow Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.1%. Arrow Financial’s dividend payout ratio (DPR) is presently 38.71%.

Analyst Ratings Changes

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

Insider Activity at Arrow Financial

In other news, Director Mark Behan sold 4,110 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $38.59, for a total value of $158,604.90. Following the sale, the director owned 8,929 shares of the company’s stock, valued at approximately $344,570.11. This represents a 31.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.48% of the company’s stock.

Arrow Financial Company 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.