Walthausen & Co. LLC Buys 3,159 Shares of Arrow Financial Co. (NASDAQ:AROW)

Walthausen & Co. LLC increased its stake in Arrow Financial Co. (NASDAQ:AROW) by 7.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 46,060 shares of the financial services provider’s stock after acquiring an additional 3,159 shares during the period. Walthausen & Co. LLC’s holdings in Arrow Financial were worth $1,741,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. First Trust Advisors LP raised its position in Arrow Financial by 1.3% in the 1st quarter. First Trust Advisors LP now owns 26,381 shares of the financial services provider’s stock worth $868,000 after purchasing an additional 327 shares during the last quarter. Metropolitan Life Insurance Co NY raised its position in Arrow Financial by 14.5% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 4,533 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 574 shares during the last quarter. California Public Employees Retirement System raised its position in Arrow Financial by 2.3% in the 4th quarter. California Public Employees Retirement System now owns 33,502 shares of the financial services provider’s stock worth $1,266,000 after purchasing an additional 758 shares during the last quarter. Swiss National Bank raised its position in Arrow Financial by 3.2% in the 4th quarter. Swiss National Bank now owns 25,788 shares of the financial services provider’s stock worth $975,000 after purchasing an additional 800 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in Arrow Financial by 4.2% in the 3rd quarter. California State Teachers Retirement System now owns 19,880 shares of the financial services provider’s stock worth $664,000 after purchasing an additional 809 shares during the last quarter. Hedge funds and other institutional investors own 42.47% of the company’s stock.

AROW has been the subject of several research analyst reports. BidaskClub cut shares of Arrow Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, March 11th. TheStreet cut shares of Arrow Financial from a “b” rating to a “c+” rating in a research report on Wednesday, March 18th. ValuEngine cut shares of Arrow Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, March 4th. Finally, Zacks Investment Research cut shares of Arrow Financial from a “hold” rating to a “sell” rating in a research report on Wednesday.

AROW stock traded up $2.64 during trading on Thursday, hitting $28.26. The company had a trading volume of 39,300 shares, compared to its average volume of 30,073. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average price of $31.62 and a 200-day moving average price of $34.48. Arrow Financial Co. has a 12 month low of $20.78 and a 12 month high of $38.31. The stock has a market cap of $395.63 million, a price-to-earnings ratio of 11.28 and a beta of 0.65.

Arrow Financial (NASDAQ:AROW) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $0.65 EPS for the quarter. The company had revenue of $30.00 million during the quarter. Arrow Financial had a net margin of 27.09% and a return on equity of 12.98%. Equities analysts expect that Arrow Financial Co. will post 2.43 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend was Monday, March 2nd. Arrow Financial’s payout ratio is 41.60%.

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

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Institutional Ownership by Quarter for Arrow Financial (NASDAQ:AROW)

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