SG Americas Securities LLC Raises Holdings in Arrow Financial Co. (NASDAQ:AROW)

SG Americas Securities LLC lifted its holdings in shares of Arrow Financial Co. (NASDAQ:AROW) by 22.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 8,033 shares of the financial services provider’s stock after acquiring an additional 1,454 shares during the period. SG Americas Securities LLC’s holdings in Arrow Financial were worth $224,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. LPL Financial LLC grew its stake in shares of Arrow Financial by 3.8% during the second quarter. LPL Financial LLC now owns 7,904 shares of the financial services provider’s stock worth $251,000 after acquiring an additional 292 shares during the last quarter. First Republic Investment Management Inc. grew its stake in shares of Arrow Financial by 0.3% during the first quarter. First Republic Investment Management Inc. now owns 105,410 shares of the financial services provider’s stock worth $3,417,000 after acquiring an additional 324 shares during the last quarter. MetLife Investment Management LLC grew its stake in shares of Arrow Financial by 4.5% during the fourth quarter. MetLife Investment Management LLC now owns 7,569 shares of the financial services provider’s stock worth $257,000 after acquiring an additional 328 shares during the last quarter. NBT Bank N A NY grew its stake in shares of Arrow Financial by 3.0% during the third quarter. NBT Bank N A NY now owns 13,338 shares of the financial services provider’s stock worth $385,000 after acquiring an additional 387 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in shares of Arrow Financial by 71.9% during the first 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 last quarter. Hedge funds and other institutional investors own 46.71% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Hovde Group began coverage on Arrow Financial in a research report on Tuesday, January 9th. They issued a “market perform” rating on the stock.

Arrow Financial Price Performance

Shares of NASDAQ AROW opened at $22.32 on Friday. The business’s 50 day moving average price is $24.15 and its 200 day moving average price is $23.97. The firm has a market cap of $369.40 million, a P/E ratio of 12.58 and a beta of 0.70. Arrow Financial Co. has a 52 week low of $16.65 and a 52 week high of $29.66. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.07.

Arrow Financial (NASDAQ:AROW) last issued its earnings results on Thursday, February 1st. The financial services provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). Arrow Financial had a net margin of 15.69% and a return on equity of 8.21%. The firm had revenue of $33.10 million during the quarter, compared to analysts’ expectations of $35.01 million. On average, sell-side analysts expect that Arrow Financial Co. will post 2.33 earnings per share for the current year.

Arrow Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Monday, February 12th were issued a $0.27 dividend. The ex-dividend date was Friday, February 9th. This is an increase from Arrow Financial’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 4.84%. Arrow Financial’s payout ratio is presently 60.87%.

About Arrow Financial

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.