ArrowMark Financial Corp. (NASDAQ:BANX) CEO Sanjai Bhonsle Buys 2,000 Shares

ArrowMark Financial Corp. (NASDAQ:BANX – Get Rating) CEO Sanjai Bhonsle purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 4th. The stock was acquired at an average cost of $14.28 per share, for a total transaction of $28,560.00. Following the transaction, the chief executive officer now owns 10,200 shares in the company, valued at approximately $145,656. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

ArrowMark Financial Stock Performance

Shares of NASDAQ BANX opened at $14.90 on Tuesday. ArrowMark Financial Corp. has a fifty-two week low of $13.80 and a fifty-two week high of $20.50. The stock has a market cap of $105.78 million, a price-to-earnings ratio of 28.11 and a beta of 0.53. The firm’s 50-day simple moving average is $17.70 and its 200 day simple moving average is $17.76.

ArrowMark Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Friday, March 24th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, March 23rd. This represents a $1.56 annualized dividend and a dividend yield of 10.47%. ArrowMark Financial’s dividend payout ratio is currently 294.35%.

Hedge Funds Weigh In On ArrowMark Financial

Hedge funds have recently modified their holdings of the company. UBS Group AG bought a new position in shares of ArrowMark Financial during the 2nd quarter worth approximately $36,000. Magnus Financial Group LLC bought a new position in shares of ArrowMark Financial during the 3rd quarter worth approximately $175,000. Morgan Stanley lifted its position in shares of ArrowMark Financial by 19.6% during the 4th quarter. Morgan Stanley now owns 11,865 shares of the investment management company’s stock worth $202,000 after buying an additional 1,945 shares in the last quarter. Millennium Management LLC bought a new position in shares of ArrowMark Financial during the 2nd quarter worth approximately $275,000. Finally, Capital Investment Advisors LLC lifted its position in shares of ArrowMark Financial by 15.1% during the 4th quarter. Capital Investment Advisors LLC now owns 16,750 shares of the investment management company’s stock worth $285,000 after buying an additional 2,200 shares in the last quarter. Institutional investors own 24.77% of the company’s stock.

ArrowMark Financial Company Profile

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ArrowMark Financial Corp. is a closed-end balanced mutual fund launched and managed by ArrowMark Asset Management, LLC. It invests in public equity and fixed income markets of global region. For its equity portion, the fund invests in stocks of companies operating across financials, banks sectors. It invests in growth and value stocks of companies across diversified market capitalization.