Franklin Resources Inc. Has $2.54 Million Holdings in Arrow Financial Co. (NASDAQ:AROW)

Franklin Resources Inc. trimmed its position in shares of Arrow Financial Co. (NASDAQ:AROW) by 20.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,452 shares of the financial services provider’s stock after selling 23,363 shares during the period. Franklin Resources Inc. owned approximately 0.53% of Arrow Financial worth $2,539,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets increased its holdings in shares of Arrow Financial by 13.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 398 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Arrow Financial by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 126,779 shares of the financial services provider’s stock valued at $3,640,000 after acquiring an additional 786 shares in the last quarter. State Street Corp lifted its position in shares of Arrow Financial by 0.3% in the 3rd quarter. State Street Corp now owns 393,719 shares of the financial services provider’s stock worth $11,284,000 after acquiring an additional 1,022 shares during the period. SG Americas Securities LLC grew its holdings in shares of Arrow Financial by 18.5% during the 4th quarter. SG Americas Securities LLC now owns 6,765 shares of the financial services provider’s stock worth $194,000 after purchasing an additional 1,056 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its position in shares of Arrow Financial by 5.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 25,429 shares of the financial services provider’s stock valued at $730,000 after purchasing an additional 1,294 shares during the period. 46.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AROW has been the topic of several analyst reports. Hovde Group lowered their price target on shares of Arrow Financial from $34.50 to $32.00 and set a “market perform” rating on the stock in a report on Friday, December 27th. Piper Sandler dropped their price target on shares of Arrow Financial from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th.

Arrow Financial Stock Performance

Arrow Financial stock opened at $24.13 on Friday. Arrow Financial Co. has a 52-week low of $21.50 and a 52-week high of $34.63. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a fifty day moving average price of $26.16 and a two-hundred day moving average price of $28.36. The firm has a market capitalization of $403.41 million, a P/E ratio of 13.63 and a beta of 0.71.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.12). Arrow Financial had a net margin of 13.32% and a return on equity of 8.59%. As a group, analysts anticipate that Arrow Financial Co. will post 2.65 EPS for the current fiscal year.

Arrow Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Monday, February 10th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 4.64%. This is a boost from Arrow Financial’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, February 10th. Arrow Financial’s dividend payout ratio (DPR) is currently 63.28%.

Insider Buying and Selling at Arrow Financial

In other Arrow Financial news, Director Raymond F. O’conor sold 2,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $25.28, for a total transaction of $50,560.00. Following the sale, the director now owns 35,022 shares of the company’s stock, valued at $885,356.16. This represents a 5.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel James White acquired 3,668 shares of the stock in a transaction on Friday, January 31st. The stock was bought at an average price of $27.23 per share, with a total value of $99,879.64. Following the transaction, the director now directly owns 4,338 shares in the company, valued at approximately $118,123.74. This represents a 547.46 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 6,000 shares of company stock worth $156,240. 3.55% of the stock is currently owned by insiders.

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