Oppenheimer & Co. Inc. Makes New $197,000 Investment in ArrowMark Financial Corp. (NASDAQ:BANX)

Oppenheimer & Co. Inc. bought a new position in shares of ArrowMark Financial Corp. (NASDAQ:BANX) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 11,809 shares of the investment management company’s stock, valued at approximately $197,000. Oppenheimer & Co. Inc. owned 0.17% of ArrowMark Financial at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. UBS Group AG acquired a new position in ArrowMark Financial during the 2nd quarter worth about $36,000. Morgan Stanley raised its position in shares of ArrowMark Financial by 19.6% in the 4th quarter. Morgan Stanley now owns 11,865 shares of the investment management company’s stock worth $202,000 after acquiring an additional 1,945 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its position in shares of ArrowMark Financial by 0.6% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 505,709 shares of the investment management company’s stock worth $8,597,000 after acquiring an additional 2,847 shares in the last quarter. Tucker Asset Management LLC bought a new position in shares of ArrowMark Financial in the 1st quarter worth about $67,000. Finally, Capital Investment Advisors LLC raised its position in shares of ArrowMark Financial by 30.3% in the 2nd quarter. Capital Investment Advisors LLC now owns 24,750 shares of the investment management company’s stock worth $412,000 after acquiring an additional 5,750 shares in the last quarter. 26.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ArrowMark Financial

In other news, Director John Scott Emrich bought 7,500 shares of the firm’s stock in a transaction that occurred on Friday, October 6th. The stock was acquired at an average cost of $17.34 per share, with a total value of $130,050.00. Following the transaction, the director now directly owns 8,725 shares of the company’s stock, valued at approximately $151,291.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.53% of the stock is currently owned by corporate insiders.

ArrowMark Financial Trading Up 0.4 %

BANX stock opened at $16.94 on Monday. The stock has a 50-day moving average price of $17.24 and a 200-day moving average price of $16.83. ArrowMark Financial Corp. has a 1-year low of $13.80 and a 1-year high of $19.37. The firm has a market cap of $120.44 million, a PE ratio of 31.96 and a beta of 0.46.

ArrowMark Financial Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Friday, October 20th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 9.92%. The ex-dividend date was Thursday, October 19th. ArrowMark Financial’s payout ratio is 339.63%.

ArrowMark Financial Company Profile

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.