California Public Employees Retirement System trimmed its stake in Arrow Financial Co. (NASDAQ:AROW) by 2.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,907 shares of the financial services provider’s stock after selling 876 shares during the period. California Public Employees Retirement System owned about 0.29% of Arrow Financial worth $1,342,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Eaton Vance Management acquired a new stake in Arrow Financial in the 4th quarter valued at $467,000. Rhumbline Advisers boosted its stake in shares of Arrow Financial by 42.4% during the fourth quarter. Rhumbline Advisers now owns 17,198 shares of the financial services provider’s stock valued at $551,000 after purchasing an additional 5,117 shares during the period. Clean Yield Group purchased a new stake in shares of Arrow Financial during the fourth quarter valued at approximately $65,000. Vigilant Capital Management LLC bought a new position in shares of Arrow Financial during the fourth quarter valued at approximately $212,000. Finally, Teachers Advisors LLC raised its holdings in shares of Arrow Financial by 2.0% during the third quarter. Teachers Advisors LLC now owns 21,449 shares of the financial services provider’s stock valued at $794,000 after acquiring an additional 423 shares in the last quarter. Institutional investors own 40.82% of the company’s stock.
AROW opened at $33.92 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $490.34 million, a price-to-earnings ratio of 13.54 and a beta of 0.56. Arrow Financial Co. has a 12-month low of $30.45 and a 12-month high of $40.15.
In other news, Director Richard J. Dmd Reisman sold 713 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $35.14, for a total transaction of $25,054.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.02% of the stock is owned by company insiders.
Separately, BidaskClub downgraded Arrow Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 7th.
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 improvements to commercial properties, as well as commercial construction and land development loans to finance projects.
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