M&T Bank Corp Sells 1,790 Shares of Arrow Financial Co. (NASDAQ:AROW)

M&T Bank Corp lowered its position in Arrow Financial Co. (NASDAQ:AROW) by 6.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,401 shares of the financial services provider’s stock after selling 1,790 shares during the quarter. M&T Bank Corp owned 0.15% of Arrow Financial worth $633,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Ensign Peak Advisors Inc bought a new stake in shares of Arrow Financial in the 3rd quarter worth approximately $28,000. Great West Life Assurance Co. Can lifted its position in shares of Arrow Financial by 71.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 944 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 395 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in shares of Arrow Financial in the 4th quarter worth approximately $40,000. Tower Research Capital LLC TRC lifted its position in shares of Arrow Financial by 236.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,570 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 1,807 shares during the period. Finally, Barclays PLC lifted its position in shares of Arrow Financial by 497.3% in the 4th quarter. Barclays PLC now owns 3,805 shares of the financial services provider’s stock worth $129,000 after acquiring an additional 3,168 shares during the period. Institutional investors own 44.90% of the company’s stock.

Arrow Financial Price Performance

Arrow Financial stock opened at $18.02 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $298.29 million, a PE ratio of 7.67 and a beta of 0.68. Arrow Financial Co. has a one year low of $16.88 and a one year high of $36.51. The business has a 50 day simple moving average of $19.65 and a 200 day simple moving average of $22.23.

Arrow Financial (NASDAQ:AROW) last posted its earnings results on Tuesday, August 8th. The financial services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.09). The company had revenue of $32.68 million for the quarter, compared to the consensus estimate of $34.51 million. Arrow Financial had a return on equity of 10.92% and a net margin of 22.23%. On average, sell-side analysts forecast that Arrow Financial Co. will post 1.66 EPS for the current fiscal year.

Arrow Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $1.08 annualized dividend and a dividend yield of 5.99%. Arrow Financial’s dividend payout ratio (DPR) is presently 45.96%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Arrow Financial from a “sell” rating to a “hold” rating in a research report on Friday, August 25th.

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 improvements to commercial properties, as well as commercial construction and land development loans to finance projects.