First Trust Advisors LP reduced its holdings in shares of Arrow Financial Corporation (NASDAQ:AROW) by 14.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,164 shares of the financial services provider’s stock after selling 3,699 shares during the quarter. First Trust Advisors LP owned approximately 0.16% of Arrow Financial Corporation worth $670,000 as of its most recent SEC filing.

Separately, Schwab Charles Investment Management Inc. increased its position in Arrow Financial Corporation by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 54,589 shares of the financial services provider’s stock worth $1,728,000 after buying an additional 323 shares during the last quarter. 39.96% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Arrow Financial Corporation (AROW) opened at 32.90 on Friday. Arrow Financial Corporation has a 52-week low of $29.67 and a 52-week high of $40.49. The firm has a 50-day moving average price of $31.38 and a 200-day moving average price of $31.91. The stock has a market capitalization of $457.77 million, a P/E ratio of 16.86 and a beta of 0.64.

Arrow Financial Corporation (NASDAQ:AROW) last released its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.03. The firm had revenue of $26.28 million for the quarter. Arrow Financial Corporation had a return on equity of 11.58% and a net margin of 25.28%. On average, analysts predict that Arrow Financial Corporation will post $2.09 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, August 30th. This represents a $1.00 annualized dividend and a dividend yield of 3.04%. Arrow Financial Corporation’s payout ratio is 49.71%.

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

Arrow Financial Corporation 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.

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

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