AROW
Arrow Financial Corporation
NasdaqGSUSDEQUITY
Financial Services
DELAYED
Last price
38.48
▲ 0.15 (0.39%)
MARKET · —
Price
Open
38.33
Prev close
38.33
Day high
39.07
Day low
37.92
Volume
224.24K
Market cap
$712.79M
P/E (TTM)
12.41
52W range
25.88 – 42.70
Trailing performance
Returnvs SPY
1W
-1.96%
-0.6%
1M
-1.69%
-5.4%
3M
+4.68%
+1.6%
6M
+9.57%
-1.5%
YTD
+22.55%
+10.3%
1Y
+36.65%
+16.6%
3Y
+110.96%
+36.8%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Fundamentals
Market cap$712.79M
Enterprise value$854.55M
Revenue (TTM)$170.17M
Gross profit$170.17M
EBITDA—
Net income$51.14M
EPS (TTM)$3.10
Free cash flow—
Total cash$196.81M
Total debt$338.57M
Book value / share$26.98
Shares outstanding18.52M
Float16.19M
Short % of float2.39%
Dividend yield3.14%
Beta (5Y)0.74
Valuation & profitability ratios
Trailing P/E12.41
Forward P/E8.96
PEG ratio2.84
Price / sales—
Price / book1.43
EV / revenue5.02
EV / EBITDA—
Gross margin0.00%
Operating margin34.66%
Profit margin30.14%
Return on equity12.00%
Return on assets1.15%
Debt / equity—
Current ratio—
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Total revenue | $165.60M | $143.41M | $133.95M | $148.81M |
| Cost of revenue | $0 | $0 | $0 | $0 |
| Gross profit | $0 | $0 | $0 | $0 |
| R&D | — | — | — | — |
| SG&A | — | — | — | — |
| Operating income | — | — | — | — |
| Pre-tax income | — | — | — | — |
| Tax provision | $0 | $0 | $0 | $0 |
| Net income | $43.95M | $29.71M | $30.07M | $48.80M |
| EBIT | $0 | $0 | $0 | $0 |
| Line item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Cash & equivalents | — | — | — | — |
| Short-term investments | — | — | — | — |
| Net receivables | — | — | — | — |
| Inventory | — | — | — | — |
| Total current assets | — | — | — | — |
| Total assets | — | — | — | — |
| Total current liabilities | — | — | — | — |
| Long-term debt | — | — | — | — |
| Total liabilities | — | — | — | — |
| Retained earnings | — | — | — | — |
| Shareholder equity | — | — | — | — |
| Line item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Net income | $43.95M | $29.71M | $30.07M | $48.80M |
| Depreciation | — | — | — | — |
| Change in working capital | — | — | — | — |
| Operating cash flow | — | — | — | — |
| Capital expenditure | — | — | — | — |
| Investing cash flow | — | — | — | — |
| Dividends paid | — | — | — | — |
| Buybacks | — | — | — | — |
| Financing cash flow | — | — | — | — |
| Net change in cash | — | — | — | — |
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | 0.85 | 0.71 | -16.5% |
| Mar 2026 | 0.79 | 0.82 | +3.8% |
| Dec 2025 | 0.80 | 0.85 | +6.3% |
| Sep 2025 | 0.72 | 0.81 | +12.5% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | 0.93 | 3 | $57.53M | +34.3% |
| Next quarter | 1.01 | 3 | $59.61M | +37.3% |
| Current year | 3.52 | 3 | $206.04M | +24.4% |
| Next year | 4.29 | 3 | $239.95M | +16.5% |
Analyst targets & ownership
Mean target$43.33
High target$46.00
Low target$42.00
Implied upside12.61%
Analyst count3
ConsensusHOLD
Strong buy / Buy1 / 0
Hold2
Sell / Strong sell0 / 0
Held by insiders2.94%
Held by institutions54.45%
Institutions holding204
Price targets, consensus spread, insider and institutional ownership.
Insider net activity
Net shares
+12.08K
Net buying
Buy transactions
12
16.19K shares
Sell transactions
1
4.11K shares
Net transactions
+13
Buys less sells
Sell : buy shares
0.3 : 1
Mixed
Insider-held shares
544.04K
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Aug 17, 26 | DEMARCO DAVID S Chief Executive Officer |
CONVERSION | 3.35K | $90.48K | Direct |
| Aug 17, 26 | BEHAN MARK L Director |
CONVERSION | 1.09K | $29.55K | Direct |
| Aug 12, 26 | BEHAN MARK L Director |
CONVERSION | 1.13K | $35.29K | Direct |
| Aug 6, 26 | BEHAN MARK L Director |
CONVERSION | 773 | $24.33K | Direct |
| Aug 4, 26 | O CONOR RAYMOND F Director |
CONVERSION | 1.06K | $35.84K | Direct |
| Aug 4, 26 | BEHAN MARK L Director |
CONVERSION | 2.35K | $64.55K | Direct |
| Jun 24, 26 | O CONOR RAYMOND F Director |
CONVERSION | 1.13K | $35.29K | Direct |
| Jun 18, 26 | BEHAN MARK L Director |
CONVERSION | 1.06K | $35.84K | Direct |
| Jun 17, 26 | BEHAN MARK L Director |
SELL | 4.11K | $158.60K | Direct |
| Jun 10, 26 | O CONOR RAYMOND F Director |
STOCK | 300 | $0 | Direct |
| May 26, 26 | READ COLIN L Director |
STOCK | 3.02K | $0 | Indirect |
| May 19, 26 | MORRIS PHILIP C Director |
CONVERSION | 386 | $12.15K | Direct |
| May 11, 26 | MORRIS PHILIP C Director |
CONVERSION | 546 | $14.76K | Direct |
| Jan 28, 26 | KRUCZLNICKI DAVID G Director |
STOCK | 818 | $26.53K | Direct |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
CASACCIO TENEE R |
Director | 27.59K | Stock Award(Grant) |
DAKE GARY C |
Director | 63.34K | Stock Award(Grant) |
DEMARCO DAVID S |
Chief Executive Officer | 97.89K | Conversion of Exercise of derivative security |
IVANOV PENKO KRASSIMIR |
Chief Financial Officer | 31.05K | Stock Award(Grant) |
KAISER DAVID D |
Officer | 32.13K | Stock Award(Grant) |
KRUCZLNICKI DAVID G |
Director | 60.13K | Stock Award(Grant) |
MILLER ELIZABETH A |
Director | 45.83K | Stock Award(Grant) |
O CONOR RAYMOND F |
Director | 31.09K | Conversion of Exercise of derivative security |
READ COLIN L |
Director | — | Stock Gift |
WISE ANDREW J |
Officer | 25.82K | Stock Award(Grant) |
Moving averages & technicals
SMA 10
38.81
-0.86% from price
SMA 20
39.47
-2.50% from price
SMA 50
40.02
-3.84% from price
SMA 100
38.19
+0.77% from price
SMA 200
35.32
+8.95% from price
EMA 12
38.97
-1.26% from price
EMA 26
39.41
-2.36% from price
EMA 50
39.27
-2.02% from price
RSI (14)
39.7
Neutral
MACD (12,26,9)
-0.44
Hist -0.15
ATR (14)
0.88
2.28% of price
Realised vol 30D
20.9%
Annualised
Bollinger upper
40.95
20, 2σ
Bollinger lower
37.98
20, 2σ
50 / 200 cross
Golden
40.02 vs 35.32
Trend bias
Above 200
+8.95%
Risk profile
Beta vs SPY
0.50
Less volatile than market
Correlation to SPY
0.25
Largely independent
Realised vol 30D
20.9%
Annualised
Market vol 1Y
12.9%
SPY, annualised
Max drawdown 1Y
-12.6%
Peak to trough
Max drawdown 5Y
-54.3%
Peak to trough
ATR 14
0.88
2.28% of price
Beta (reported)
0.74
5Y monthly, from filing
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Options analytics
Put / call volume
5.80
Put-heavy session
Put / call open interest
16.38
Positioning, not flow
Max pain
40.00
+4.0% from spot
ATM implied vol
71.6%
Nearest strike to spot
Skew (10% OTM)
-65.4%
Calls bid over puts
Call volume
5
Contracts, this expiry
Put volume
29
Contracts, this expiry
Heaviest call OI
40.00
7 contracts
Heaviest put OI
30.00
126 contracts
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Headlines
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Why Arrow Financial (AROW) is a Great Dividend Stock Right Now
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Zacks · 29d ago
Arrow Reports 2nd Quarter Net Income of $11.0 Million, or $0.66 per Share, and Declares 3rd Quarter Dividend of $0.30 per Share
PR Newswire · 30d ago
Arrow Financial: Q2 Earnings Snapshot
Associated Press · 30d ago
Why Arrow Financial (AROW) is a Top Dividend Stock for Your Portfolio
Zacks · 33d ago
PRIVATE STRATEGY · BY QUALIFICATION
The same data. A different seat.
The research you are reading is the input layer for a discretionary options program we run for a small number of qualified investors. Minimum $1,000,000.