Gallagher Fiduciary Advisors LLC Invests $1.03 Million in Arrow Financial Corporation $AROW

Gallagher Fiduciary Advisors LLC bought a new position in Arrow Financial Corporation (NASDAQ:AROW) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 25,106 shares of the financial services provider’s stock, valued at approximately $1,029,000. Gallagher Fiduciary Advisors LLC owned 0.14% of Arrow Financial at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Arrow Financial during the second quarter worth $57,377,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Arrow Financial during the second quarter valued at $4,995,000. Bank of New York Mellon Corp purchased a new stake in Arrow Financial in the 2nd quarter worth about $3,663,000. Segall Bryant & Hamill LLC purchased a new stake in Arrow Financial in the 4th quarter worth about $2,175,000. Finally, Trust Co. of Vermont acquired a new stake in Arrow Financial during the 2nd quarter worth about $2,228,000. Institutional investors and hedge funds own 46.71% of the company’s stock.

Arrow Financial Stock Down 0.4%

AROW stock opened at $38.18 on Wednesday. The firm has a market cap of $707.25 million, a PE ratio of 12.32 and a beta of 0.76. Arrow Financial Corporation has a 1 year low of $25.88 and a 1 year high of $42.70. The company has a fifty day simple moving average of $40.03 and a 200 day simple moving average of $37.01. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.06.

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). Arrow Financial had a return on equity of 12.13% and a net margin of 20.56%.The business had revenue of $52.44 million for the quarter, compared to analyst estimates of $45.51 million. Sell-side analysts anticipate that Arrow Financial Corporation will post 3.55 EPS for the current fiscal year.

Arrow Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders 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 is currently 38.71%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Arrow Financial

In related news, Director Mark Behan sold 4,110 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 8,929 shares in the company, valued at approximately $344,570.11. The trade was a 31.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 3.48% of the company’s stock.

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.