Dimensional Fund Advisors LP Acquires 29,610 Shares of Arrow Financial Co. (NASDAQ:AROW)

Dimensional Fund Advisors LP increased its position in Arrow Financial Co. (NASDAQ:AROW – Get Rating) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 707,348 shares of the financial services provider’s stock after purchasing an additional 29,610 shares during the quarter. Dimensional Fund Advisors LP owned approximately 4.29% of Arrow Financial worth $20,387,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its stake in Arrow Financial by 236.8% in the third quarter. Tower Research Capital LLC TRC now owns 2,570 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 1,807 shares in the last quarter. UBS Group AG boosted its position in Arrow Financial by 2.9% during the 3rd quarter. UBS Group AG now owns 50,506 shares of the financial services provider’s stock valued at $1,456,000 after acquiring an additional 1,404 shares in the last quarter. NBT Bank N A NY boosted its position in Arrow Financial by 3.0% during the 3rd quarter. NBT Bank N A NY now owns 13,338 shares of the financial services provider’s stock valued at $385,000 after acquiring an additional 387 shares in the last quarter. New York State Common Retirement Fund boosted its position in Arrow Financial by 3.3% during the 3rd quarter. New York State Common Retirement Fund now owns 9,988 shares of the financial services provider’s stock valued at $288,000 after acquiring an additional 319 shares in the last quarter. Finally, Adirondack Retirement Specialists Inc. bought a new stake in Arrow Financial during the 3rd quarter valued at $161,000. Institutional investors own 44.18% of the company’s stock.

Arrow Financial Stock Down 0.6 %

Shares of NASDAQ AROW opened at $29.39 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $485.82 million, a PE ratio of 9.94 and a beta of 0.68. The stock’s fifty day simple moving average is $32.27 and its two-hundred day simple moving average is $32.67. Arrow Financial Co. has a 12-month low of $28.50 and a 12-month high of $36.51.

Arrow Financial (NASDAQ:AROW – Get Rating) last announced its earnings results on Monday, January 30th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.07). The company had revenue of $43.07 million for the quarter, compared to the consensus estimate of $39.09 million. Arrow Financial had a net margin of 30.40% and a return on equity of 13.82%. As a group, analysts expect that Arrow Financial Co. will post 3.18 EPS for the current fiscal year.

Arrow Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Friday, March 3rd will be issued a dividend of $0.27 per share. The ex-dividend date is Thursday, March 2nd. This represents a $1.08 annualized dividend and a dividend yield of 3.67%. Arrow Financial’s dividend payout ratio is presently 36.54%.

Arrow Financial Profile

(Get Rating)

Arrow Financial Corp. is a bank holding company, which engages in the provision of banking and insurance services through its subsidiaries, Glens Falls National and Saratoga National. It offers deposit accounts, lending activities, insurance products, and loans. The company was founded on March 21, 1983 and is headquartered in Glens Falls, NY.