Arrow Financial Co. (NASDAQ:AROW) saw a significant decrease in short interest in April. As of April 29th, there was short interest totalling 147,819 shares, a decrease of 11.6% from the April 15th total of 165,843 shares. Based on an average daily volume of 48,508 shares, the days-to-cover ratio is currently 1.8 days.

Shares of NASDAQ:AROW opened at $7.18 on Friday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.77 and a current ratio of 0.77. Arrow Financial has a 52 week low of $6.04 and a 52 week high of $10.13.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 11th. Stockholders of record on Friday, April 27th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Thursday, April 26th. Arrow Financial’s dividend payout ratio (DPR) is currently 23.50%.

Several large investors have recently added to or reduced their stakes in the company. Teachers Advisors LLC raised its position in shares of Arrow Financial by 1.8% in the 2nd quarter. Teachers Advisors LLC now owns 13,507 shares of the bank’s stock valued at $104,000 after acquiring an additional 221 shares during the last quarter. Moneta Group Investment Advisors LLC acquired a new stake in shares of Arrow Financial in the 4th quarter valued at about $120,000. Bank of Montreal Can raised its position in shares of Arrow Financial by 182.5% in the 4th quarter. Bank of Montreal Can now owns 17,850 shares of the bank’s stock valued at $148,000 after acquiring an additional 11,690 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Arrow Financial by 52.4% in the 2nd quarter. California Public Employees Retirement System now owns 32,500 shares of the bank’s stock valued at $270,000 after acquiring an additional 10,500 shares during the last quarter. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of Arrow Financial in the 3rd quarter valued at about $263,000. Institutional investors and hedge funds own 44.32% of the company’s stock.

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About Arrow Financial

Arrow Financial Corporation is a bank holding company for Arrow Bank (the Bank). The Bank conducts a commercial banking business. As of December 31, 2016, the Bank had total assets of $1.1 billion, total deposits of $1.1 billion, and total loans of $867.7 million. The Bank’s deposits are located in eastern Montana, western Wyoming, and South Dakota.

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