Trust Co. of Vermont Makes New $2.23 Million Investment in Arrow Financial Corporation $AROW

Trust Co. of Vermont purchased a new stake in Arrow Financial Corporation (NASDAQ:AROW) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 54,365 shares of the financial services provider’s stock, valued at approximately $2,228,000. Trust Co. of Vermont owned approximately 0.33% of Arrow Financial at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AROW. Global Retirement Partners LLC acquired a new stake in Arrow Financial in the second quarter valued at approximately $34,000. BNP Paribas Financial Markets grew its holdings in Arrow Financial by 67.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,612 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 648 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Arrow Financial by 2,045.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,523 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,452 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Arrow Financial by 27.7% in 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 increased its position in shares of 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 valued at $63,000 after purchasing an additional 1,802 shares during the last quarter. Hedge funds and other institutional investors own 46.71% of the company’s stock.

Insider Buying and Selling at Arrow Financial

In other news, Director Mark Behan sold 4,110 shares of the business’s stock in a transaction dated 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 of the company’s stock, 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 accessible through this link. Insiders own 3.48% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Arrow Financial Trading Down 1.0%

Shares of Arrow Financial stock opened at $38.86 on Tuesday. 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 company has a fifty day simple moving average of $40.05 and a 200-day simple moving average of $36.83. The stock has a market cap of $719.69 million, a price-to-earnings ratio of 12.54 and a beta of 0.76. Arrow Financial Corporation has a 12-month low of $25.88 and a 12-month high of $42.70.

Arrow Financial (NASDAQ:AROW) last announced its quarterly 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 company had revenue of $52.44 million for the quarter, compared to analyst estimates of $45.51 million. On average, equities analysts forecast that Arrow Financial Corporation will post 3.55 EPS for the current fiscal year.

Arrow Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, August 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.1%. Arrow Financial’s payout ratio is 38.71%.

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.