Arrow Financial Corporation (NASDAQ:AROW) SVP David S. Demarco sold 4,141 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $35.30, for a total transaction of $146,177.30. Following the completion of the sale, the senior vice president now owns 22,448 shares of the company’s stock, valued at $792,414.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Arrow Financial Corporation (NASDAQ:AROW) last posted its quarterly earnings results on Monday, October 23rd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). The company had revenue of $26.79 million during the quarter. Arrow Financial Corporation had a return on equity of 11.77% and a net margin of 25.36%.

Arrow Financial Corporation declared that its board has approved a share repurchase program on Friday, October 27th that permits the company to repurchase $5.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.83%. This is a positive change from Arrow Financial Corporation’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, November 30th. Arrow Financial Corporation’s dividend payout ratio is 48.60%.

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Large investors have recently added to or reduced their stakes in the stock. Schroder Investment Management Group increased its holdings in Arrow Financial Corporation by 49.5% in the second quarter. Schroder Investment Management Group now owns 3,608 shares of the financial services provider’s stock worth $115,000 after buying an additional 1,194 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in Arrow Financial Corporation in the second quarter worth approximately $216,000. Bradley Foster & Sargent Inc. CT acquired a new position in Arrow Financial Corporation in the second quarter worth approximately $269,000. Alliancebernstein L.P. increased its holdings in Arrow Financial Corporation by 29.2% in the second quarter. Alliancebernstein L.P. now owns 10,627 shares of the financial services provider’s stock worth $336,000 after buying an additional 2,400 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its holdings in Arrow Financial Corporation by 4.2% in the second quarter. Parametric Portfolio Associates LLC now owns 17,173 shares of the financial services provider’s stock worth $544,000 after buying an additional 686 shares during the last quarter. Hedge funds and other institutional investors own 39.18% of the company’s stock.

Separately, BidaskClub upgraded shares of Arrow Financial Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th.

Arrow Financial Corporation Company Profile

Arrow Financial Corporation (Arrow) is a bank holding company. The Company’s banking subsidiaries are Glens Falls National Bank and Trust Company (Glens Falls National) and Saratoga National Bank and Trust Company (Saratoga National). It operates in community banking industry segment. The Company’s business consists primarily of the ownership, supervision and control of its two banks.

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