Northern Trust Corp Increases Stake in Arrow Financial Co. (AROW)

Northern Trust Corp lifted its stake in shares of Arrow Financial Co. (NASDAQ:AROW) by 1.8% during the fourth quarter, HoldingsChannel reports. The firm owned 207,516 shares of the financial services provider’s stock after buying an additional 3,656 shares during the period. Northern Trust Corp’s holdings in Arrow Financial were worth $6,645,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AROW. BlackRock Inc. raised its holdings in Arrow Financial by 3.9% in the third quarter. BlackRock Inc. now owns 1,034,305 shares of the financial services provider’s stock worth $38,270,000 after purchasing an additional 38,662 shares during the period. Dimensional Fund Advisors LP raised its holdings in Arrow Financial by 4.8% in the third quarter. Dimensional Fund Advisors LP now owns 649,877 shares of the financial services provider’s stock worth $24,045,000 after purchasing an additional 29,499 shares during the period. Vanguard Group Inc raised its holdings in Arrow Financial by 5.0% in the third quarter. Vanguard Group Inc now owns 603,495 shares of the financial services provider’s stock worth $22,330,000 after purchasing an additional 28,520 shares during the period. Vanguard Group Inc. raised its holdings in Arrow Financial by 5.0% in the third quarter. Vanguard Group Inc. now owns 603,495 shares of the financial services provider’s stock worth $22,330,000 after purchasing an additional 28,520 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Arrow Financial by 7.1% in the third quarter. Renaissance Technologies LLC now owns 323,035 shares of the financial services provider’s stock worth $11,952,000 after purchasing an additional 21,275 shares during the period. Institutional investors own 40.82% of the company’s stock.

Separately, BidaskClub raised shares of Arrow Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, February 5th.

In related news, Director Richard J. Dmd Reisman sold 713 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $35.14, for a total value of $25,054.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.02% of the stock is currently owned by company insiders.

Shares of AROW stock opened at $34.01 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.11. Arrow Financial Co. has a 12-month low of $30.45 and a 12-month high of $40.15. The firm has a market cap of $492.13 million, a PE ratio of 13.56 and a beta of 0.56.

Arrow Financial (NASDAQ:AROW) last issued its quarterly earnings data on Tuesday, January 29th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.03). Arrow Financial had a return on equity of 13.86% and a net margin of 28.92%. The company had revenue of $28.46 million for the quarter.

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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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