Walthausen & Co. LLC Acquires 2,260 Shares of Arrow Financial Co. (AROW)

Walthausen & Co. LLC boosted its stake in Arrow Financial Co. (NASDAQ:AROW) by 5.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,652 shares of the financial services provider’s stock after buying an additional 2,260 shares during the quarter. Walthausen & Co. LLC owned approximately 0.29% of Arrow Financial worth $1,334,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Clean Yield Group bought a new position in shares of Arrow Financial during the 4th quarter valued at $65,000. Legal & General Group Plc raised its holdings in shares of Arrow Financial by 21.5% during the 4th quarter. Legal & General Group Plc now owns 2,274 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 402 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in shares of Arrow Financial by 461.2% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,400 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 3,616 shares in the last quarter. FMR LLC bought a new position in shares of Arrow Financial during the 3rd quarter valued at $144,000. Finally, Charter Trust Co. bought a new position in shares of Arrow Financial during the 3rd quarter valued at $207,000. Institutional investors own 40.82% of the company’s stock.

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 document filed with the SEC, which is available through this hyperlink. Company insiders own 4.02% of the company’s stock.

NASDAQ:AROW traded down $0.16 during midday trading on Friday, reaching $34.21. The stock had a trading volume of 8,214 shares, compared to its average volume of 11,768. Arrow Financial Co. has a 1-year low of $30.45 and a 1-year high of $40.15. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $494.95 million, a PE ratio of 13.67 and a beta of 0.56.

Arrow Financial (NASDAQ:AROW) last posted its earnings results on Tuesday, January 29th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.03). Arrow Financial had a net margin of 28.92% and a return on equity of 13.86%. The firm had revenue of $28.46 million during the quarter.

Separately, BidaskClub lowered shares of Arrow Financial from a “hold” rating to a “sell” rating in a research note on Thursday, March 7th.

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

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