Citadel Advisors LLC Sells 9,491 Shares of Arrow Financial Corporation (AROW)
Citadel Advisors LLC lessened its holdings in Arrow Financial Corporation (NASDAQ:AROW) by 43.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,585 shares of the financial services provider’s stock after selling 9,491 shares during the period. Citadel Advisors LLC owned approximately 0.09% of Arrow Financial Corporation worth $398,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Schroder Investment Management Group raised its position in Arrow Financial Corporation by 49.5% in the second quarter. Schroder Investment Management Group now owns 3,608 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 1,194 shares in the last quarter. Bradley Foster & Sargent Inc. CT acquired a new position in Arrow Financial Corporation in the second quarter worth about $269,000. Alliancebernstein L.P. raised its position in Arrow Financial Corporation by 29.2% in the second quarter. Alliancebernstein L.P. now owns 10,627 shares of the financial services provider’s stock worth $336,000 after purchasing an additional 2,400 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in Arrow Financial Corporation by 4.2% in the second quarter. Parametric Portfolio Associates LLC now owns 17,173 shares of the financial services provider’s stock worth $544,000 after purchasing an additional 686 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in Arrow Financial Corporation by 0.9% in the second quarter. Teachers Advisors LLC now owns 20,913 shares of the financial services provider’s stock worth $662,000 after purchasing an additional 181 shares in the last quarter. 38.81% of the stock is owned by hedge funds and other institutional investors.
Arrow Financial Corporation (AROW) opened at 35.05 on Wednesday. The firm has a market cap of $487.69 million, a price-to-earnings ratio of 17.97 and a beta of 0.65. Arrow Financial Corporation has a 52-week low of $29.67 and a 52-week high of $40.49. The company has a 50-day moving average of $32.59 and a 200 day moving average of $32.00.
Arrow Financial Corporation (NASDAQ:AROW) last issued its earnings results on Thursday, July 20th. The financial services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.50 by $0.03. The company had revenue of $26.28 million during the quarter. Arrow Financial Corporation had a net margin of 25.28% and a return on equity of 11.58%. On average, equities research analysts anticipate that Arrow Financial Corporation will post $2.09 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.85%. The ex-dividend date was Wednesday, August 30th. Arrow Financial Corporation’s payout ratio is presently 49.71%.
Separately, BidaskClub raised shares of Arrow Financial Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th.
About Arrow Financial Corporation
Arrow Financial Corporation (Arrow) is a bank holding company. The Company’s banking subsidiaries are Glens Falls National Bank and Trust Company (Glens Falls National) and Saratoga National Bank and Trust Company (Saratoga National). It operates in community banking industry segment. The Company’s business consists primarily of the ownership, supervision and control of its two banks.
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