Symbols / AROW Stock $37.14 +0.79% Arrow Financial Corporation

Financial Services • Banks - Regional • United States • NMS
AROW (Stock) Chart
O: — H: — L: — C: — V: —
SMA 20: — SMA 50: — SMA 200: —
Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Financial Services
Industry Banks - Regional
CEO Mr. David S. DeMarco
Exch · Country NMS · United States
Market Cap 613.80M
Enterprise Value 423.41M
Income 43.81M
Sales 158.32M
FCF (ttm) —
Book/sh 26.26
Cash/sh 13.45
Employees 578
Insider 10d —
IPO Sep 18, 1980
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 37.54%
P/E 12.02
Forward P/E 8.58
PEG 2.84
P/S 3.88
P/B 1.41
P/C —
EV/EBITDA —
EV/Sales 2.67
Quick Ratio —
Current Ratio —
Debt/Eq —
LT Debt/Eq —
EPS (ttm) 3.09
EPS next Y 4.33
EPS Growth 216.50%
Revenue Growth 37.00%
EPS Gr Q/Q 213.50%
Rev Gr Q/Q —
Earnings (next) 2026-07-23
Earnings (prior) 2026-04-30
ROA 1.00%
ROE 10.56%
ROIC —
Gross Margin 0.00%
Oper. Margin 40.70%
Profit Margin 27.76%
Shs Outstand 16.53M
Shs Float 14.09M
Insider Own 3.16%
Instit Own 58.87%
Short Float 1.08%
Short Ratio 1.78
Short Interest 175.02K
52W High 38.09
vs 52W High -2.49%
52W Low 24.57
vs 52W Low 51.16%
Beta 0.76
Impl. Vol. 54.54%
Rel Volume 0.47
Avg Volume 94.75K
Volume 44.87K
Target (mean) $38.00
Tgt Median $38.00
Tgt Low $38.00
Tgt High $38.00
# Analysts 1
Recom Hold
Prev Close $36.85
Price $37.14
Change 0.79%
About

Arrow Financial Corporation, a bank holding company, provides various commercial and consumer banking, and financial products and services in the United States. The company's deposit products include demand deposits, interest-bearing checking accounts, savings deposits, time deposits, and other time deposits. Its lending activities comprise commercial loans, such as term loans, time notes, and lines of credit; and commercial real estate loans to finance real estate purchases, refinancing, expansions, and enhancement to commercial properties, as well as commercial construction and land development loans to finance projects. The company's lending activities also include consumer installment loans to finance personal expenditures, personal lines of credit, overdraft protection, and automobile loans; and residential real estate loans, fixed home equity loans, and home equity lines of credit for consumers to finance home improvements, debt consolidation, education, and other uses, as well as maintains an indirect lending program. In addition, it provides retirement planning, trust, and estate administration services for individuals, as well as pension, profit-sharing, and employee benefit plan administration services for corporations. Further, the company offers insurance agency services comprising group health care policies and life insurance, and property and casualty insurance products. The company was founded in 1851 and is headquartered in Glens Falls, New York.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$38.00
Mean price target
2. Current target
$37.14
Latest analyst target
3. DCF / Fair value
$46.35
Fallback: EPS × 15 (assumed fair P/E). No FCF data; use with …
Ratings
Current target
$37.14
Low
$38.00
High
$38.00
Mean
$38.00

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2025-05-05 main Piper Sandler Neutral → Neutral $28
2025-02-04 main Piper Sandler Neutral → Neutral $30
2024-01-09 init Hovde Group — → Market Perform —
2020-09-28 main Piper Sandler — → Neutral $28
News
RSS: Latest AROW news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-01-28 IVANOV PENKO KRASSIMIR Chief Financial Officer — 4,558 $32.43 $147,816
2026-01-28 CASACCIO TENEE R Director — 818 $32.43 $26,528
2026-01-28 MILLER ELIZABETH A Director — 818 $32.43 $26,528
2026-01-28 BEHAN MARK L Director — 818 $32.43 $26,528
2026-01-28 WISE ANDREW J Officer — 4,058 $32.43 $131,601
2026-01-28 CHAMPION GREGORY J Director — 818 $32.43 $26,528
2026-01-28 JACOBS MICHAEL JOSEPH Chief Technology Officer — 2,406 $32.43 $78,027
2026-01-28 YRSHA MARC Officer — 4,058 $32.43 $131,601
2026-01-28 PANCOE BROOKE M Officer — 2,406 $32.43 $78,027
2026-01-28 DAWSEY JAMES M Director — 818 $32.43 $26,528
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
165.60
+18.45%
139.81
+4.37%
133.95
-10.25%
149.24
Operating Revenue
165.60
+18.45%
139.81
+4.37%
133.95
-10.25%
149.24
Selling General And Administration
60.60
+6.81%
56.73
+11.49%
50.89
+3.08%
49.37
Selling And Marketing Expense
1.79
+43.02%
1.25
+6.82%
1.17
-1.43%
1.19
General And Administrative Expense
58.80
+5.99%
55.48
+11.60%
49.72
+3.19%
48.18
Salaries And Wages
56.29
+6.80%
52.71
+10.57%
47.67
+1.41%
47.00
Other Gand A
—
—
—
—
Reconciled Depreciation
5.42
+1.06%
5.36
-20.20%
6.72
-11.00%
7.55
Total Unusual Items
—
—
0.00
0.00
Total Unusual Items Excluding Goodwill
—
—
0.00
0.00
Special Income Charges
—
—
0.00
0.00
Other Special Charges
—
—
—
—
Net Income
43.95
+47.95%
29.71
-1.22%
30.07
-38.37%
48.80
Pretax Income
55.39
+48.26%
37.36
-0.43%
37.52
-40.36%
62.91
Net Interest Income
133.16
+19.18%
111.73
+6.58%
104.83
-11.42%
118.34
Interest Expense
76.98
-7.54%
83.26
+44.22%
57.73
+410.54%
11.31
Interest Income
210.15
+7.77%
194.99
+19.95%
162.56
+25.39%
129.65
Gain On Sale Of Security
0.54
+118.64%
-2.91
-3059.78%
-0.09
-121.55%
0.43
Tax Provision
11.44
+49.50%
7.65
+2.74%
7.45
-47.25%
14.11
Tax Rate For Calcs
0.00
+0.49%
0.00
+3.54%
0.00
-11.61%
0.00
Tax Effect Of Unusual Items
0.00
0.00
0.00
0.00
Net Income Including Noncontrolling Interests
43.95
+47.95%
29.71
-1.22%
30.07
-38.37%
48.80
Net Income From Continuing Operation Net Minority Interest
43.95
+47.95%
29.71
-1.22%
30.07
-38.37%
48.80
Net Income From Continuing And Discontinued Operation
43.95
+47.95%
29.71
-1.22%
30.07
-38.37%
48.80
Net Income Continuous Operations
43.95
+47.95%
29.71
-1.22%
30.07
-38.37%
48.80
Normalized Income
43.95
+47.95%
29.71
-1.22%
30.07
-38.37%
48.80
Net Income Common Stockholders
43.81
+47.47%
29.71
-1.22%
30.07
-38.37%
48.80
Otherunder Preferred Stock Dividend
0.14
—
—
—
Diluted EPS
—
1.77
+0.00%
1.77
-38.20%
2.86
Basic EPS
—
1.78
+0.56%
1.77
-38.20%
2.86
Basic Average Shares
—
16.74
-1.75%
17.04
+0.17%
17.01
Diluted Average Shares
—
16.75
-1.71%
17.04
-0.13%
17.06
Diluted NI Availto Com Stockholders
43.81
+47.47%
29.71
-1.22%
30.07
-38.37%
48.80
Amortization
0.31
+25.91%
0.25
+40.34%
0.18
-8.81%
0.19
Amortization Of Intangibles Income Statement
0.31
+25.91%
0.25
+40.34%
0.18
-8.81%
0.19
Depreciation Amortization Depletion Income Statement
0.31
+25.91%
0.25
+40.34%
0.18
-8.81%
0.19
Depreciation And Amortization In Income Statement
0.31
+25.91%
0.25
+40.34%
0.18
-8.81%
0.19
Insurance And Claims
2.52
-9.33%
2.77
+35.37%
2.05
+74.32%
1.18
Occupancy And Equipment
28.55
+7.61%
26.53
+9.82%
24.16
+8.25%
22.32
Other Non Interest Expense
7.95
+0.15%
7.94
-10.13%
8.83
+34.37%
6.57
Professional Expense And Contract Services Expense
5.53
-5.00%
5.82
-35.30%
8.99
+192.23%
3.08
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
4,445.86
+3.24%
4,306.35
+3.27%
4,169.87
+5.05%
3,969.51
Cash And Cash Equivalents
214.18
+38.59%
154.55
+8.43%
142.54
+120.44%
64.66
Cash Financial
29.13
+6.24%
27.42
-25.39%
36.76
+15.27%
31.89
Other Short Term Investments
542.19
+17.07%
463.11
-6.96%
497.77
-13.20%
573.50
Net PPE
59.43
-0.48%
59.72
+0.13%
59.64
+5.58%
56.49
Gross PPE
115.31
+3.42%
111.50
+2.52%
108.76
+6.65%
101.98
Accumulated Depreciation
-55.88
-7.91%
-51.78
-5.43%
-49.12
-7.98%
-45.49
Land And Improvements
64.47
+7.24%
60.12
-0.01%
60.12
+45.59%
41.30
Machinery Furniture Equipment
40.90
+6.36%
38.45
+1.33%
37.95
+8.09%
35.11
Construction In Progress
0.59
-82.54%
3.40
+209.65%
1.10
-93.07%
15.86
Other Properties
4.11
-4.13%
4.28
-3.97%
4.46
-3.82%
4.64
Leases
5.24
-0.02%
5.24
+2.26%
5.13
+0.87%
5.08
Goodwill And Other Intangible Assets
25.53
-1.23%
25.85
+12.46%
22.98
-1.67%
23.37
Goodwill
23.79
+0.00%
23.79
+8.76%
21.87
+0.00%
21.87
Other Intangible Assets
1.74
-15.40%
2.06
+85.41%
1.11
-26.00%
1.50
Investments And Advances
572.81
+0.36%
570.78
-10.27%
636.14
-15.98%
757.10
Total Liabilities Net Minority Interest
4,014.01
+2.78%
3,905.45
+3.04%
3,790.10
+4.82%
3,615.97
Current Debt And Capital Lease Obligation
—
—
20.00
-25.93%
27.00
Current Debt
—
—
20.00
-25.93%
27.00
Other Current Borrowings
—
—
20.00
-25.93%
27.00
Long Term Debt And Capital Lease Obligation
29.19
-13.13%
33.60
-34.83%
51.57
-35.48%
79.92
Long Term Debt
24.27
-15.16%
28.60
-38.49%
46.50
-37.83%
74.80
Long Term Capital Lease Obligation
4.93
-1.52%
5.00
-1.20%
5.07
-1.04%
5.12
Stockholders Equity
431.85
+7.72%
400.90
+5.56%
379.77
+7.42%
353.54
Common Stock Equity
431.85
+7.72%
400.90
+5.56%
379.77
+7.42%
353.54
Capital Stock
22.07
+0.00%
22.07
+0.00%
22.07
+3.00%
21.42
Common Stock
22.07
+0.00%
22.07
+0.00%
22.07
+3.00%
21.42
Preferred Stock
0.00
0.00
0.00
0.00
Share Issued
22.07
+0.00%
22.07
+0.00%
22.07
0.00%
22.07
Ordinary Shares Number
16.45
-1.78%
16.74
-1.18%
16.94
-0.62%
17.05
Treasury Shares Number
5.62
+5.59%
5.32
+3.89%
5.12
+2.10%
5.02
Additional Paid In Capital
414.51
+0.25%
413.48
+0.22%
412.55
+3.07%
400.27
Retained Earnings
102.27
+32.45%
77.22
+17.36%
65.79
+0.60%
65.40
Gains Losses Not Affecting Retained Earnings
-4.04
+78.12%
-18.45
+44.78%
-33.42
+32.70%
-49.66
Treasury Stock
102.95
+10.23%
93.40
+7.09%
87.22
+3.96%
83.90
Other Equity Adjustments
-4.04
+78.12%
-18.45
+44.78%
-33.42
+32.70%
-49.66
Total Equity Gross Minority Interest
431.85
+7.72%
400.90
+5.56%
379.77
+7.42%
353.54
Total Capitalization
456.12
+6.20%
429.50
+0.76%
426.27
-0.48%
428.34
Invested Capital
456.12
+6.20%
429.50
+0.76%
426.27
-0.48%
428.34
Total Debt
29.19
-13.13%
33.60
-34.83%
51.57
-35.48%
79.92
Net Debt
—
—
—
10.14
Capital Lease Obligations
4.93
-1.52%
5.00
-1.20%
5.07
-1.04%
5.12
Net Tangible Assets
406.32
+8.34%
375.05
+5.12%
356.79
+8.06%
330.17
Tangible Book Value
406.32
+8.34%
375.05
+5.12%
356.79
+8.06%
330.17
Available For Sale Securities
9.97
+5.96%
9.41
+34.90%
6.97
-15.34%
8.24
Cash Cash Equivalents And Federal Funds Sold
214.18
+38.59%
154.55
+8.43%
142.54
+120.44%
64.66
Held To Maturity Securities
20.66
-78.98%
98.26
-25.22%
131.40
-25.07%
175.36
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
41.28
+19.76%
34.47
+67.49%
20.58
-65.54%
59.71
Cash Flow From Continuing Operating Activities
41.28
+19.76%
34.47
+67.49%
20.58
-65.54%
59.71
Net Income From Continuing Operations
43.95
+47.95%
29.71
-1.22%
30.07
-38.37%
48.80
Depreciation Amortization Depletion
5.42
+1.06%
5.36
-20.20%
6.72
-11.00%
7.55
Depreciation And Amortization
5.42
+1.06%
5.36
-20.20%
6.72
-11.00%
7.55
Other Non Cash Items
-13.96
-821.72%
-1.51
-858.86%
-0.16
+1.25%
-0.16
Pension And Employee Benefit Expense
—
—
-0.68
+8.10%
-0.74
Stock Based Compensation
1.14
+40.67%
0.81
-1.70%
0.82
-4.19%
0.86
Deferred Tax
0.19
+124.46%
-0.79
-143.86%
1.80
+243.69%
-1.25
Deferred Income Tax
0.19
+124.46%
-0.79
-143.86%
1.80
+243.69%
-1.25
Operating Gains Losses
-1.07
-134.59%
3.10
+246.46%
-2.12
-517.49%
-0.34
Gain Loss On Investment Securities
-0.54
-118.64%
2.91
+3059.78%
0.09
+121.55%
-0.43
Gain Loss On Sale Of PPE
0.29
-28.71%
0.40
+116.04%
0.19
+11.98%
0.17
Change In Working Capital
-1.78
+76.03%
-7.42
+62.80%
-19.95
-3400.18%
-0.57
Change In Other Current Assets
-2.10
+74.37%
-8.21
+71.91%
-29.22
-1947.65%
-1.43
Change In Other Current Liabilities
0.33
-58.70%
0.79
-91.51%
9.27
+981.56%
0.86
Investing Cash Flow
-61.45
+30.92%
-88.95
-7.62%
-82.65
+78.97%
-393.06
Cash Flow From Continuing Investing Activities
-61.45
+30.92%
-88.95
-7.62%
-82.65
+78.97%
-393.06
Net PPE Purchase And Sale
-1.94
+14.49%
-2.27
+48.08%
-4.37
+65.76%
-12.78
Purchase Of PPE
-5.09
+9.08%
-5.60
+20.96%
-7.08
+50.31%
-14.25
Sale Of PPE
3.15
-5.38%
3.33
+22.87%
2.71
+83.53%
1.48
Capital Expenditure
-5.09
+9.08%
-5.60
+20.96%
-7.08
+50.31%
-14.25
Net Investment Purchase And Sale
15.68
-76.87%
67.78
-54.90%
150.30
+350.27%
-60.06
Purchase Of Investment
-160.42
-2.04%
-157.22
-92.12%
-81.83
+58.30%
-196.24
Sale Of Investment
176.10
-21.73%
225.00
-3.07%
232.13
+70.45%
136.19
Net Business Purchase And Sale
0.00
-100.00%
32.35
0.00
0.00
Net Other Investing Changes
-0.02
-102.73%
0.70
+115.48%
0.32
+147.22%
-0.68
Financing Cash Flow
79.81
+20.03%
66.49
-52.49%
139.95
+334.47%
-59.69
Cash Flow From Continuing Financing Activities
79.81
+20.03%
66.49
-52.49%
139.95
+334.47%
-59.69
Net Issuance Payments Of Debt
-4.41
+75.44%
-17.96
+36.65%
-28.35
-390.80%
9.75
Issuance Of Debt
0.00
-100.00%
102.10
-60.19%
256.50
+850.00%
27.00
Repayment Of Debt
-4.41
+96.33%
-120.06
+57.85%
-284.85
-1551.32%
-17.25
Long Term Debt Issuance
0.00
-100.00%
102.10
-60.19%
256.50
+850.00%
27.00
Long Term Debt Payments
-4.41
+96.33%
-120.06
+57.85%
-284.85
-1551.32%
-17.25
Net Long Term Debt Issuance
-4.41
+75.44%
-17.96
+36.65%
-28.35
-390.80%
9.75
Short Term Debt Payments
—
—
—
—
Net Short Term Debt Issuance
—
—
—
27.00
Net Common Stock Issuance
-10.24
-50.81%
-6.79
-116.52%
-3.14
-223.97%
-0.97
Common Stock Payments
-10.24
-50.81%
-6.79
-88.19%
-3.61
-25.63%
-2.87
Common Stock Dividend Paid
-18.90
-3.34%
-18.29
-1.68%
-17.98
-3.09%
-17.44
Cash Dividends Paid
-18.90
-3.34%
-18.29
-1.68%
-17.98
-3.09%
-17.44
Repurchase Of Capital Stock
-10.24
-50.81%
-6.79
-88.19%
-3.61
-25.63%
-2.87
Proceeds From Stock Option Exercised
0.58
-19.75%
0.72
+235.19%
0.22
-80.51%
1.11
Net Other Financing Charges
1.24
-79.82%
6.12
—
—
Changes In Cash
59.64
+396.56%
12.01
-84.58%
77.88
+119.81%
-393.04
Beginning Cash Position
154.55
+8.43%
142.54
+120.44%
64.66
-85.87%
457.70
End Cash Position
214.18
+38.59%
154.55
+8.43%
142.54
+120.44%
64.66
Free Cash Flow
36.19
+25.35%
28.87
+113.88%
13.50
-70.31%
45.46
Interest Paid Supplemental Data
77.21
-8.62%
84.49
+63.02%
51.83
+801.04%
5.75
Income Tax Paid Supplemental Data
18.65
+110.64%
8.85
+33.25%
6.64
-48.96%
13.02
Common Stock Issuance
0.00
0.00
-100.00%
0.47
-75.21%
1.90
Excess Tax Benefit From Stock Based Compensation
0.12
+252.94%
0.03
+209.09%
0.01
-67.65%
0.03
Issuance Of Capital Stock
0.00
0.00
-100.00%
0.47
-75.21%
1.90
Sale Of Business
0.00
-100.00%
32.35
0.00
0.00
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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