ArrowMark Financial Corp. (NASDAQ:BANX) CFO Patrick Joseph Farrell Purchases 1,150 Shares

ArrowMark Financial Corp. (NASDAQ:BANX) CFO Patrick Joseph Farrell acquired 1,150 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was acquired at an average cost of $21.04 per share, with a total value of $24,196.00. Following the transaction, the chief financial officer now directly owns 7,209 shares of the company’s stock, valued at approximately $151,677.36. This represents a 18.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

ArrowMark Financial Price Performance

BANX traded up $0.06 during trading hours on Monday, reaching $21.14. 28,587 shares of the stock traded hands, compared to its average volume of 20,058. The firm’s fifty day simple moving average is $21.05 and its two-hundred day simple moving average is $20.80. ArrowMark Financial Corp. has a fifty-two week low of $17.91 and a fifty-two week high of $21.67.

ArrowMark Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $1.80 dividend on an annualized basis and a yield of 8.51%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Everstar Asset Management LLC lifted its position in shares of ArrowMark Financial by 6.0% in the 4th quarter. Everstar Asset Management LLC now owns 23,198 shares of the investment management company’s stock worth $487,000 after buying an additional 1,321 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in ArrowMark Financial by 7.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 23,929 shares of the investment management company’s stock valued at $502,000 after buying an additional 1,655 shares during the period. Falcon Wealth Planning increased its stake in ArrowMark Financial by 15.3% during the 4th quarter. Falcon Wealth Planning now owns 18,862 shares of the investment management company’s stock valued at $396,000 after buying an additional 2,500 shares during the period. Trust Co. of Vermont acquired a new position in ArrowMark Financial during the 4th quarter valued at about $58,000. Finally, Stifel Financial Corp increased its stake in ArrowMark Financial by 4.2% during the 4th quarter. Stifel Financial Corp now owns 167,707 shares of the investment management company’s stock valued at $3,519,000 after buying an additional 6,683 shares during the period. 24.93% of the stock is currently owned by institutional investors.

ArrowMark Financial Company Profile

ArrowMark Financial Corp. is a closed-end balanced mutual fund launched and managed by ArrowMark Asset Management, LLC. It invests in public equity and fixed income markets of global region. For its equity portion, the fund invests in stocks of companies operating across financials, banks sectors. It invests in growth and value stocks of companies across diversified market capitalization.