Barclays PLC Raises Stock Position in Arrow Financial Co. (NASDAQ:AROW)

Barclays PLC raised its holdings in shares of Arrow Financial Co. (NASDAQ:AROW) by 251.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,411 shares of the financial services provider’s stock after acquiring an additional 15,327 shares during the quarter. Barclays PLC owned approximately 0.13% of Arrow Financial worth $614,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. BNP Paribas Financial Markets grew its position in shares of Arrow Financial by 13.0% during the third 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 in the last quarter. Rockefeller Capital Management L.P. boosted its stake in Arrow Financial by 0.4% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 116,867 shares of the financial services provider’s stock worth $3,349,000 after purchasing an additional 454 shares during the period. State Street Corp grew its holdings in Arrow Financial by 0.3% during the 3rd quarter. State Street Corp now owns 393,719 shares of the financial services provider’s stock valued at $11,284,000 after buying an additional 1,022 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in shares of Arrow Financial by 0.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 118,630 shares of the financial services provider’s stock valued at $3,400,000 after buying an additional 1,100 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Arrow Financial by 6.4% in the second quarter. Rhumbline Advisers now owns 24,650 shares of the financial services provider’s stock worth $642,000 after buying an additional 1,485 shares in the last quarter. 46.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AROW has been the subject of several research analyst reports. Hovde Group cut their target price on shares of Arrow Financial from $34.50 to $32.00 and set a “market perform” rating for the company in a research note on Friday, December 27th. Piper Sandler started coverage on shares of Arrow Financial in a report on Friday, December 20th. They set a “neutral” rating and a $32.00 price objective for the company.

Insider Transactions at Arrow Financial

In related news, Director Raymond F. O’conor sold 2,000 shares of Arrow Financial stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $28.85, for a total value of $57,700.00. Following the completion of the transaction, the director now owns 35,859 shares in the company, valued at approximately $1,034,532.15. This trade represents a 5.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 6,000 shares of company stock worth $180,080 in the last three months. Insiders own 3.55% of the company’s stock.

Arrow Financial Stock Performance

NASDAQ:AROW opened at $27.28 on Friday. The company has a market cap of $456.67 million, a price-to-earnings ratio of 13.92 and a beta of 0.77. Arrow Financial Co. has a 1 year low of $21.50 and a 1 year high of $34.63. The stock’s 50 day simple moving average is $30.62 and its two-hundred day simple moving average is $29.44. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.93 and a quick ratio of 0.93.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. Arrow Financial had a net margin of 15.00% and a return on equity of 8.59%. The company had revenue of $57.58 million for the quarter. As a group, equities analysts anticipate that Arrow Financial Co. will post 2.11 earnings per share for the current fiscal year.

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.