Arrow Financial Co. (NASDAQ:AROW) Shares Bought by American Century Companies Inc.

American Century Companies Inc. grew its holdings in Arrow Financial Co. (NASDAQ:AROW) by 13.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 266,651 shares of the financial services provider’s stock after buying an additional 32,158 shares during the period. American Century Companies Inc. owned 1.60% of Arrow Financial worth $6,946,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Arrow Financial Corp raised its position in shares of Arrow Financial by 6.6% in the second quarter. Arrow Financial Corp now owns 1,946,595 shares of the financial services provider’s stock valued at $50,709,000 after buying an additional 119,715 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Arrow Financial by 1.4% in the first quarter. Vanguard Group Inc. now owns 795,274 shares of the financial services provider’s stock valued at $19,898,000 after buying an additional 10,636 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Arrow Financial by 7.2% in the fourth quarter. Franklin Resources Inc. now owns 134,806 shares of the financial services provider’s stock valued at $3,766,000 after purchasing an additional 9,094 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Arrow Financial by 12.0% in the second quarter. Bank of New York Mellon Corp now owns 129,326 shares of the financial services provider’s stock valued at $3,369,000 after purchasing an additional 13,829 shares during the period. Finally, ClariVest Asset Management LLC grew its holdings in shares of Arrow Financial by 2.8% in the second quarter. ClariVest Asset Management LLC now owns 37,247 shares of the financial services provider’s stock valued at $970,000 after purchasing an additional 1,017 shares during the period. 46.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Hovde Group assumed coverage on shares of Arrow Financial in a report on Monday, September 9th. They issued a “market perform” rating and a $31.00 price objective for the company. StockNews.com raised shares of Arrow Financial from a “sell” rating to a “hold” rating in a report on Tuesday, July 30th.

Insider Transactions at Arrow Financial

In other news, Director Raymond F. O’conor sold 2,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $30.09, for a total transaction of $60,180.00. Following the sale, the director now owns 43,176 shares of the company’s stock, valued at $1,299,165.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.55% of the company’s stock.

Arrow Financial Trading Down 0.5 %

Shares of AROW stock opened at $29.00 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $484.24 million, a PE ratio of 16.86 and a beta of 0.73. The company has a 50-day moving average of $29.36 and a two-hundred day moving average of $26.12. Arrow Financial Co. has a 1-year low of $16.65 and a 1-year high of $32.92.

Arrow Financial (NASDAQ:AROW) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.52 earnings per share for the quarter. The company had revenue of $55.83 million during the quarter. Arrow Financial had a net margin of 14.94% and a return on equity of 8.46%.

Arrow Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 12th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 3.72%. The ex-dividend date was Monday, August 12th. Arrow Financial’s dividend payout ratio (DPR) is presently 62.79%.

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.