ArrowMark Financial Corp. (NASDAQ:BANX) Insider Acquires $14,580.00 Stake

Financial Advisors


ArrowMark Financial Corp. (NASDAQ:BANX – Get Rating) insider Richard Allen Grove purchased 1,000 shares of ArrowMark Financial stock in a transaction on Thursday, May 4. Shares were purchased at an average of $14.58 per share for a total of $14,580.00. Following the closing of the transaction, insiders now own 1,500 shares of the company’s stock valued at approximately $21,870. The purchase was disclosed in legal filings with the SEC that can be accessed at this link.

ArrowMark Financial Stock Performance

NASDAQ:BANX rose $0.53 in intraday trading on Friday to reach $15.00. 39,067 shares of the company’s stock were hand-traded, compared to an average turnover of 16,821. The company has a 50-day moving average of $17.85 and a 200-day moving average of $17.77. The company has a market capitalization of $106.5 million, a P/E of 29.79 and a beta of 0.53. ArrowMark Financial Corp. has a 12-month low of $13.80 and a 12-month high of $20.50.

ArrowMark Announces Financial Dividend

The company recently announced a quarterly dividend, which was paid out on Friday, March 31st. Dividends of $0.39 were paid to shareholders of record on Friday, March 24. The ex-dividend date was Thursday, March 23. This represents his $1.56 dividend and his 10.40% dividend yield on an annual basis. ArrowMark Financial has a payout percentage of 294.35%.

ArrowMark Financial Institutional Trading

Many hedge funds have recently changed their stock holdings. Cambridge Investment Research Advisors Inc. acquired a new stake in ArrowMark Financial worth approximately $322,000 in the first quarter. UBS Group AG bought a new stake in his ArrowMark Financial for his $36,000 in the second quarter. Millennium Management LLC purchased additional shares of ArrowMark Financial worth $275,000 in the second quarter. Raymond James Financial Services Advisors Inc. increased his ArrowMark Financial holdings by 10.4% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 143,317 shares of the investment management company worth $2,474,000 after he purchased an additional 13,452 shares during this period. Finally, Raymond James & Associates increased his ArrowMark Financial holdings by 23.0% in the third quarter. Raymond James & Associates now owns 34,403 shares of the Investment Management Company worth $594,000 after purchasing an additional 6,437 shares during this period. Hedge funds and other institutional investors own 24.77% of the company’s shares.

ArrowMark Financial Company Profile

(get rating)

ArrowMark Financial Corp. is a closed-end balanced mutual fund launched and managed by ArrowMark Asset Management, LLC. It invests in global regional public equity and fixed income markets. For the equity portion, the Fund invests in the shares of companies operating across the financial and banking sectors. Invests in growth and value stocks of companies of diverse market caps.

References

ArrowMark Financial (NASDAQ:BANX) Quarterly Insider Trading

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