Trust Co. of Vermont Grows Position in Arrow Financial Co. (NASDAQ:AROW)

Trust Co. of Vermont grew its stake in Arrow Financial Co. (NASDAQ:AROW) by 49.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,365 shares of the financial services provider’s stock after acquiring an additional 19,000 shares during the quarter. Trust Co. of Vermont owned about 0.34% of Arrow Financial worth $1,647,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Arrow Financial Corp raised its holdings in Arrow Financial by 1.2% in the 3rd quarter. Arrow Financial Corp now owns 1,969,793 shares of the financial services provider’s stock valued at $56,454,000 after acquiring an additional 23,198 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Arrow Financial by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 700,253 shares of the financial services provider’s stock valued at $18,241,000 after purchasing an additional 31,268 shares during the last quarter. State Street Corp lifted its position in Arrow Financial by 0.3% during the third quarter. State Street Corp now owns 393,719 shares of the financial services provider’s stock worth $11,284,000 after buying an additional 1,022 shares during the period. American Century Companies Inc. boosted its stake in Arrow Financial by 13.7% in the 2nd quarter. American Century Companies Inc. now owns 266,651 shares of the financial services provider’s stock worth $6,946,000 after buying an additional 32,158 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in Arrow Financial by 0.9% in the 3rd 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 period. Institutional investors and hedge funds own 46.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AROW. Piper Sandler assumed coverage on shares of Arrow Financial in a report on Friday, December 20th. They set a “neutral” rating and a $32.00 price objective on the stock. Hovde Group cut 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 research note on Friday, December 27th.

Insider Transactions at Arrow Financial

In related news, Director Raymond F. O’conor sold 2,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $32.69, for a total transaction of $65,380.00. Following the completion of the sale, the director now directly owns 37,859 shares of the company’s stock, valued at approximately $1,237,610.71. This represents a 5.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 6,000 shares of company stock valued at $180,080 over the last 90 days. Corporate insiders own 3.55% of the company’s stock.

Arrow Financial Price Performance

AROW stock opened at $27.39 on Friday. The stock has a 50-day moving average price of $30.41 and a two-hundred day moving average price of $29.45. The company has a market cap of $458.51 million, a PE ratio of 13.97 and a beta of 0.77. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06. Arrow Financial Co. has a 12-month low of $21.50 and a 12-month high of $34.63.

Arrow Financial (NASDAQ:AROW) last posted its earnings results on Thursday, October 31st. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.53. Arrow Financial had a net margin of 15.00% and a return on equity of 8.59%. The firm had revenue of $57.58 million during the quarter. As a group, research analysts predict that Arrow Financial Co. will post 2.11 EPS for the current 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.