GAMMA Investing LLC Purchases New Shares in Arrow Financial Co. (NASDAQ:AROW)

GAMMA Investing LLC purchased a new stake in shares of Arrow Financial Co. (NASDAQ:AROW) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,038 shares of the financial services provider’s stock, valued at approximately $29,000.

Several other hedge funds also recently made changes to their positions in the company. Carl P. Sherr & Co. LLC bought a new position in shares of Arrow Financial during the fourth quarter valued at $210,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Arrow Financial in the fourth quarter worth about $53,000. IFG Advisory LLC bought a new position in shares of Arrow Financial in the fourth quarter worth about $225,000. SG Americas Securities LLC boosted its stake in shares of Arrow Financial by 22.1% in the fourth quarter. SG Americas Securities LLC now owns 8,033 shares of the financial services provider’s stock worth $224,000 after acquiring an additional 1,454 shares during the period. Finally, Trust Co. of Vermont boosted its stake in shares of Arrow Financial by 3.0% in the third quarter. Trust Co. of Vermont now owns 39,105 shares of the financial services provider’s stock worth $666,000 after acquiring an additional 1,137 shares during the period. 46.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AROW shares. Hovde Group started coverage on Arrow Financial in a research note on Tuesday, January 9th. They issued a “market perform” rating for the company. StockNews.com lowered Arrow Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st.

Arrow Financial Price Performance

Shares of Arrow Financial stock opened at $23.61 on Tuesday. The stock has a 50 day moving average of $23.62 and a 200 day moving average of $24.68. Arrow Financial Co. has a 12 month low of $16.65 and a 12 month high of $29.66. The firm has a market cap of $394.05 million, a PE ratio of 13.73 and a beta of 0.72. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.07.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). The firm had revenue of $54.54 million for the quarter, compared to the consensus estimate of $33.29 million. Arrow Financial had a net margin of 14.34% and a return on equity of 7.95%. On average, research analysts expect that Arrow Financial Co. will post 2.29 EPS for the current fiscal year.

Arrow Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 13th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 4.57%. The ex-dividend date is Friday, May 10th. Arrow Financial’s payout ratio is 62.81%.

Arrow Financial Company Profile

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.