AROW
Arrow Financial Corporation
NasdaqGSUSDEQUITY
Financial Services
DELAYED
Neutral
+13/100
Last price
37.20
▼ 0.18 (0.48%)
MARKET · —
Price
Chart style
Interval
Intraday intervals only cover recent history. The site picks the finest interval the range allows.
Overlays
Session levels
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Both series are rebased to 0% at the left edge, so the lines show relative performance rather than price.
Tool
1D
—
H —
L —
Range —
Vol —
vs
Drag pan · Pinch zoom · Hold crosshair · pick a tool then drag to draw
Open
37.49
Prev close
37.38
Day high
37.70
Day low
37.06
Volume
54.04K
Market cap
$689.08M
P/E (TTM)
12.08
52W range
25.88 – 42.70
Day trading desk
Gap from prior close
+0.29%
Prior close 37.38
VWAP
37.25
-0.15% from price
Relative volume
0.45×
Quiet session
Session range
1.72%
37.06 – 37.70
Position in range
22%
Near session low
ATR (14D)
0.73
1.96% of price
Prior day high
37.86
PDH
Prior day low
37.32
PDL
Bid / ask spread
—
Quote not published
Session volume
39.49K
Avg 87.71K
VWAP and the session figures are computed from the delayed intraday series on this page, so they lag the live tape and will not match a broker's real-time VWAP exactly. Turn on Prior day H/L/C, Opening range and Volume profile in the chart's Studies menu to see these levels drawn on price.
Trailing performance
Returnvs SPY
1W
-0.29%
-2.2%
1M
-5.99%
-7.1%
3M
-6.74%
-11.3%
6M
+6.59%
-11.6%
YTD
+18.47%
+4.2%
1Y
+34.78%
+18.4%
3Y
+118.57%
+36.3%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
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.
Free account
5 more panels on AROW open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
+18.23K
Net buying
Buy transactions
14
22.34K shares
Sell transactions
1
4.11K shares
Net transactions
+15
Buys less sells
Sell : buy shares
0.2 : 1
Mixed
Insider-held shares
547.93K
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Sep 4, 26 | DEMARCO DAVID S Chief Executive Officer |
CONVERSION | 1.77K | $53.59K | Direct |
| Aug 28, 26 | DEMARCO DAVID S Chief Executive Officer |
CONVERSION | 4.38K | $132.51K | Direct |
| 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 |
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 | 98.56K | 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) |
Fundamentals
Market cap$689.08M
Enterprise value$830.84M
Revenue (TTM)$170.17M
Gross profit$170.17M
EBITDA—
Net income$51.14M
EPS (TTM)$3.08
Free cash flow—
Total cash$196.81M
Total debt$338.57M
Book value / share$26.98
Shares outstanding18.52M
Float16.18M
Short % of float3.39%
Dividend yield3.21%
Beta (5Y)0.74
Valuation & profitability ratios
Trailing P/E12.08
Forward P/E8.64
PEG ratio2.84
Price / sales—
Price / book1.38
EV / revenue4.88
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 | YoY |
|---|---|---|---|---|---|
| Total revenue | $165.60M | $139.81M | $133.95M | $149.24M | +18.4% |
| Operating revenue | $165.60M | $139.81M | $133.95M | $149.24M | +18.4% |
| Selling, general & admin | $60.60M | $56.73M | $50.89M | $49.37M | +6.8% |
| Pre-tax income | $55.39M | $37.36M | $37.52M | $62.91M | +48.3% |
| Tax provision | $11.44M | $7.65M | $7.45M | $14.11M | +49.5% |
| Net income | $43.95M | $29.71M | $30.07M | $48.80M | +47.9% |
| Net income to common | $43.81M | $29.71M | $30.07M | $48.80M | +47.5% |
| Basic EPS | 2.65 | 1.78 | 1.77 | 2.86 | +48.9% |
| Diluted EPS | 2.65 | 1.77 | 1.77 | 2.86 | +49.7% |
| Basic shares | 16.50M | 16.74M | 17.04M | 17.01M | -1.4% |
| Diluted shares | 16.51M | 16.75M | 17.04M | 17.06M | -1.4% |
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $214.18M | $154.55M | $142.54M | $64.66M | — | +38.6% |
| Property, plant & equipment | $59.43M | $59.72M | $59.64M | $56.49M | — | -0.5% |
| Goodwill & intangibles | $25.53M | $25.85M | $22.98M | $23.37M | — | -1.2% |
| Total assets | $4.45B | $4.31B | $4.17B | $3.97B | — | +3.2% |
| Current debt | — | — | $20.00M | $27.00M | $0 | — |
| Long-term debt | $24.27M | $28.60M | $46.50M | $74.80M | — | -15.2% |
| Total debt | $29.19M | $33.60M | $51.57M | $79.92M | — | -13.1% |
| Total liabilities | $4.01B | $3.91B | $3.79B | $3.62B | — | +2.8% |
| Retained earnings | $102.27M | $77.22M | $65.79M | $65.40M | — | +32.4% |
| Shareholder equity | $431.85M | $400.90M | $379.77M | $353.54M | — | +7.7% |
| Net tangible assets | $406.32M | $375.05M | $356.79M | $330.17M | — | +8.3% |
| Shares issued | 22.07M | 22.07M | 22.07M | 22.07M | — | 0.0% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Net income | $43.95M | $29.71M | $30.07M | $48.80M | +47.9% |
| Depreciation & amortisation | $5.42M | $5.36M | $6.72M | $7.55M | +1.1% |
| Stock-based compensation | $1.14M | $809.00K | $823.00K | $859.00K | +40.7% |
| Change in working capital | -$1.78M | -$7.42M | -$19.95M | -$570.00K | +76.0% |
| Operating cash flow | $41.28M | $34.47M | $20.58M | $59.71M | +19.8% |
| Capital expenditure | -$5.09M | -$5.60M | -$7.08M | -$14.25M | +9.1% |
| Investing cash flow | -$61.45M | -$88.95M | -$82.65M | -$393.06M | +30.9% |
| Share buybacks | -$10.24M | -$6.79M | -$3.61M | -$2.87M | -50.8% |
| Dividends paid | -$18.90M | -$18.29M | -$17.98M | -$17.44M | -3.3% |
| Financing cash flow | $79.81M | $66.49M | $139.95M | -$59.69M | +20.0% |
| Free cash flow | $36.19M | $28.87M | $13.50M | $45.46M | +25.3% |
| End cash position | $214.18M | $154.55M | $142.54M | $64.66M | +38.6% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Total revenue | $44.19M | $44.76M | $43.41M | $42.85M | $40.14M | -1.3% |
| Operating revenue | $44.19M | $44.76M | $43.41M | $42.85M | $40.14M | -1.3% |
| Selling, general & admin | $15.54M | $15.51M | $16.66M | $14.97M | $14.73M | +0.2% |
| Pre-tax income | $13.90M | $17.34M | $16.76M | $16.60M | $13.90M | -19.9% |
| Tax provision | $2.93M | $3.86M | $2.75M | $3.77M | $3.09M | -24.0% |
| Net income | $10.96M | $13.48M | $14.01M | $12.82M | $10.80M | -18.7% |
| Net income to common | $10.89M | $13.48M | $13.87M | $12.82M | $10.77M | -19.2% |
| Basic EPS | 0.66 | 0.82 | 0.85 | 0.77 | 0.65 | -19.5% |
| Diluted EPS | 0.66 | 0.82 | 0.85 | 0.77 | 0.65 | -19.5% |
| Basic shares | 16.43M | 16.38M | 16.39M | 16.40M | 16.55M | +0.3% |
| Diluted shares | 16.47M | 16.40M | 16.41M | 16.41M | 16.55M | +0.4% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $186.79M | $285.61M | $214.18M | $397.44M | $268.45M | -34.6% |
| Property, plant & equipment | $62.53M | $59.56M | $59.43M | $60.00M | $60.70M | +5.0% |
| Goodwill & intangibles | $25.40M | $25.48M | $25.53M | $25.59M | $25.66M | -0.3% |
| Total assets | $4.48B | $4.52B | $4.45B | $4.59B | $4.41B | -0.9% |
| Long-term debt | $330.19M | $24.27M | $24.27M | $24.27M | $28.60M | +1,260.8% |
| Total debt | $335.08M | $29.17M | $29.19M | $29.19M | $33.57M | +1,048.6% |
| Total liabilities | $4.04B | $4.08B | $4.01B | $4.17B | $4.01B | -1.1% |
| Retained earnings | $116.81M | $110.80M | $102.27M | $93.03M | $84.97M | +5.4% |
| Shareholder equity | $446.31M | $440.14M | $431.85M | $417.69M | $408.51M | +1.4% |
| Net tangible assets | $420.90M | $414.66M | $406.32M | $392.09M | $382.85M | +1.5% |
| Shares issued | 22.08M | 22.07M | 22.07M | 22.07M | 22.07M | +0.1% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Net income | $10.96M | $13.48M | $14.01M | $12.82M | $10.80M | -18.7% |
| Depreciation & amortisation | $1.33M | $1.25M | $1.29M | $1.51M | $1.41M | +6.7% |
| Stock-based compensation | $439.00K | $353.00K | $237.00K | $228.00K | $416.00K | +24.4% |
| Change in working capital | $3.38M | $2.47M | $1.20M | -$1.80M | -$1.31M | +37.0% |
| Operating cash flow | $15.79M | $15.24M | $5.91M | $15.02M | $10.28M | +3.6% |
| Capital expenditure | -$4.21M | -$1.30M | -$1.07M | -$739.00K | -$2.00M | -223.2% |
| Investing cash flow | -$57.16M | -$15.11M | -$23.42M | -$49.68M | $6.56M | -278.3% |
| Share buybacks | -$370.00K | -$113.00K | -$154.00K | -$1.43M | -$5.17M | -227.4% |
| Dividends paid | -$4.96M | -$4.95M | -$4.77M | -$4.77M | -$4.66M | -0.2% |
| Financing cash flow | -$57.45M | $71.29M | -$165.75M | $163.65M | -$49.84M | -180.6% |
| Free cash flow | $11.59M | $13.94M | $4.83M | $14.28M | $8.28M | -16.9% |
| End cash position | $186.79M | $285.61M | $214.18M | $397.44M | $268.45M | -34.6% |
Options analytics
Put / call volume
—
—
Put / call open interest
—
Positioning, not flow
Max pain
40.00
+7.5% from spot
ATM implied vol
—
Nearest strike to spot
Skew (10% OTM)
—
—
Call volume
0
Contracts, this expiry
Put volume
2
Contracts, this expiry
Heaviest call OI
—
—
Heaviest put OI
40.00
2 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.
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 | 0.94 | 4 | $57.82M | +34.9% |
| Next quarter | 1.01 | 4 | $59.56M | +37.2% |
| Current year | 3.51 | 4 | $206.28M | +24.6% |
| Next year | 4.31 | 4 | $240.13M | +16.4% |
Analyst targets & ownership
Mean target$43.50
High target$46.00
Low target$42.00
Implied upside16.94%
Analyst count4
ConsensusNONE
Strong buy / Buy2 / 0
Hold2
Sell / Strong sell0 / 0
Held by insiders2.96%
Held by institutions54.25%
Institutions holding201
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
37.35
-0.41% from price
SMA 20
37.88
-1.79% from price
SMA 50
38.60
-3.62% from price
SMA 100
38.79
-4.09% from price
SMA 200
36.45
+2.06% from price
EMA 12
37.53
-0.87% from price
EMA 26
37.92
-1.91% from price
EMA 50
38.31
-2.91% from price
RSI (14)
41.7
Neutral
MACD (12,26,9)
-0.40
Hist -0.00
ATR (14)
0.73
1.96% of price
Realised vol 30D
17.9%
Annualised
Bollinger upper
39.27
20, 2σ
Bollinger lower
36.48
20, 2σ
50 / 200 cross
Golden
38.60 vs 36.45
Trend bias
Above 200
+2.06%
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.
Risk profile
Beta vs SPY
0.46
Less volatile than market
Correlation to SPY
0.23
Largely independent
Realised vol 30D
17.9%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-13.3%
Peak to trough
Max drawdown 5Y
-54.3%
Peak to trough
ATR 14
0.73
1.96% of price
Beta (reported)
0.74
5Y monthly, from filing
Short interest
Shares short
616.29K
Prior 432.91K
Change vs prior
+42.4%
Shorts adding
% of float
3.39%
Normal
% of shares out
3.33%
Against total outstanding
Days to cover
7.1
Crowded exit
Float
16.18M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Sep 2, 26 | Raymond James | INITIATED | — | Outperform |
| Jul 28, 26 | Piper Sandler | MAINTAINED | Overweight | Overweight |
| Jun 25, 26 | Keefe, Bruyette & Woods | INITIATED | — | Market Perform |
| May 5, 25 | Piper Sandler | MAINTAINED | Neutral | Neutral |
| Feb 4, 25 | Piper Sandler | MAINTAINED | Neutral | Neutral |
| Jan 9, 24 | Hovde Group | INITIATED | — | Market Perform |
| Sep 28, 20 | Piper Sandler | MAINTAINED | — | Neutral |
Dividends & splits
Forward rate$1.20 / yr
Forward yield3.21%
5-year avg yield3.67%
Payout ratio38.06%
Ex-dividend dateAug 11, 2026
Next pay dateAug 25, 2026
Last split103:100
Split dateSep 16, 2022
SEC filings
Corporate Changes & Voting Matters
8-K/A · 2026-09-14
Corporate Changes & Voting Matters
8-K · 2026-09-10
Periodic Financial Reports
10-Q · 2026-08-06
Corporate Changes & Voting Matters
8-K · 2026-07-23
Annual report of employee stock purchase
11-K · 2026-07-14
Corporate Changes & Voting Matters
8-K · 2026-07-01
Notice under Rule 12b25 of inability to timely file all or part of a form 11-K
NT 11-K · 2026-06-30
Corporate Changes & Voting Matters
8-K · 2026-06-11
Headlines
Arrow Financial's Unit to Acquire Skene Valley Agency
MT Newswires · 27d ago
Arrow Announces Acquisition of Insurance Agency in Washington County, N.Y.
PR Newswire · 27d ago
Correction: Raymond James Initiates Arrow Financial With Outperform Rating, $44 Price Target
MT Newswires · 35d ago
5 Stocks to Buy This Week If You Want Dividend Income in August
24/7 Wall St. · 61d ago
Why Arrow Financial (AROW) is a Great Dividend Stock Right Now
Zacks · 63d 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 · 76d ago
Arrow Financial: Q2 Earnings Snapshot
Associated Press · 76d ago
Why Arrow Financial (AROW) is a Top Dividend Stock for Your Portfolio
Zacks · 79d 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.