Arrow Financial (AROW)

Company Profile

Arrow Financial Corporation is a multi-bank holding company headquartered in Glens Falls, New York, serving the financial needs of northeastern New York. The Company is the parent of Glens Falls National Bank and Trust Company and Saratoga National Bank and Trust Company. Other subsidiaries include North Country Investment Advisers, Inc., and Upstate Agency, LLC, specializing in property and casualty insurance and group health and employee benefits.

Company profile

Ticker

AROW

Exchange

NASDAQ

Website

www.arrowfinancial.com

CEO

Thomas Murphy

Incorporated

New York

Location

New York

Fiscal year end

Dec 31

Sector

Finance and Insurance > Commercial Banking

Industry (SIC)

National Commercial Banks

JPMorgan Chase & Co. • Citigroup • U.S. Bancorp. • PNC Financial Services • Shinhan Financial • HSBC USA • Bank Of America • Regions Financial • Keycorp • Santander Holdings USA ...

Former names

ARROW BANK CORP

SEC CIK

0000717538

Corporate docs

Articles of Incorporation & Bylaws

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

Glens Falls National Bank and Trust Company • A Nationally Chartered Commercial Bank • Saratoga National Bank and Trust Company • A Non-deposit Trust Company • Arrow Properties, Inc. • North Country Investment Advisers, Inc. • A New York Corporation • NC Financial Services, Inc. • Glens Falls National Community Development Corporation • Upstate Agency, LLC ...

IRS number

222448962

AROW stock data

1M 1Y 5Y

Latest filings (excl ownership)

View all

NT 10-K

Notice of late annual filing

16 Mar 23

8-K

Regulation FD Disclosure

23 Feb 23

8-K

Arrow Financial Corporation Names Ivanov CFO

6 Feb 23

8-K

Arrow Reports $48.8 million in Net Income, Record Loan Growth of $315 million in 2022

7 Nov 22

Arrow Approves 2023 Stock Repurchase Program

27 Oct 22

8-K

Arrow Reports $12.2 million in Q3 Net Income, Loan Growth of $80 Million in the Quarter

27 Oct 22

8-K

Departure of Directors or Certain Officers

6 Oct 22

8-K

Departure of Directors or Certain Officers

30 Sep 22

8-K

Arrow Financial Corporation Declares Stock Dividend

1 Sep 22

Latest ownership filings

View all

GARY C DAKE

10 Mar 23

Penko Krassimir Ivanov

Financial summary

Financial statements Chart AROW financial data

Quarter (USD)	Sep 22	Jun 22	Mar 22	Dec 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 21	Dec 20	Dec 19	Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	373.43 mm	373.43 mm	373.43 mm	373.43 mm	373.43 mm	373.43 mm
Cash burn (monthly)	(no burn)	18.74 mm	9.20 mm	8.75 mm	(no burn)	(no burn)
Cash used (since last report)	n/a	111.64 mm	54.80 mm	52.08 mm	n/a	n/a
Cash remaining	n/a	261.79 mm	318.63 mm	321.34 mm	n/a	n/a
Runway (months of cash)	n/a	14.0	34.6	36.7	n/a	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q4 2022

AROW institutional ownership history Ownership history

13F holders	Current	Prev Q	Change
Total holders	451	433	+4.2%
Opened positions	65	47	+38.3%
Closed positions	47	55	-14.5%
Increased positions	162	133	+21.8%
Reduced positions	167	190	-12.1%

13F shares	Current	Prev Q	Change
Total value	5.94 tn	82.61 bn	+7087.9%
Total shares	57.53 mm	55.93 mm	+2.9%
Total puts	50.10 k	24.50 k	+104.5%
Total calls	34.80 k	22.00 k	+58.2%
Total put/call ratio	1.4	1.1	+29.3%

Largest owners	Shares	Value	Change
BLK Blackrock	7.77 mm	$812.00 bn	+0.8%
Vanguard	6.83 mm	$714.64 bn	-1.6%
Cooke & Bieler	3.51 mm	$366.67 bn	+7.6%
LSV Asset Management	2.77 mm	$290.42 bn	-5.8%
STT State Street	2.77 mm	$289.49 bn	NEW
Dimensional Fund Advisors	2.63 mm	$275.47 bn	-0.9%
Aqr Capital Management	2.08 mm	$216.72 bn	-7.6%
Lyrical Asset Management	1.28 mm	$134.06 bn	-2.7%
Millennium Management	1.26 mm	$131.49 bn	+25.9%
Earnest Partners	1.03 mm	$107.23 bn	-4.2%

Largest transactions	Shares	Bought/sold	Change
STT State Street	2.77 mm	+2.77 mm	NEW
Norges Bank	627.35 k	+627.35 k	NEW
Wedge Capital Management L L P	0.00	-462.07 k	EXIT
Robeco Institutional Asset Management B.V.	400.73 k	-282.27 k	-41.3%
Millennium Management	1.26 mm	+258.22 k	+25.9%
JPM JPMorgan Chase & Co.	157.35 k	-256.96 k	-62.0%
Cooke & Bieler	3.51 mm	+246.66 k	+7.6%
Marshall Wace	0.00	-232.58 k	EXIT
Railway Pension Investments	0.00	-211.20 k	EXIT
DnB Asset Management AS	626.96 k	-210.10 k	-25.1%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

AROW insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
10 Mar 23	Dake Gary C	Common Stock	Buy	Acquire P	No	No	27.5656	1,000	27.57 k	46,329
17 Feb 23	Dake Gary C	Common Stock	Option exercise	Acquire M	No	No	28.29	1,160	32.82 k	45,312
17 Feb 23	Dake Gary C	Director Stock Option Common Stock	Option exercise	Dispose M	No	No	28.29	1,160	32.82 k	0
6 Feb 23	Read Colin L	Common Stock	Sell	Dispose S	No	No	31.7045	300	9.51 k	9,420
3 Feb 23	Read Colin L	Common Stock	Sell	Dispose S	No	No	32.471	300	9.74 k	9,720
1 Feb 23	Casaccio Tenee R	Director Stock Option Common Stock	Grant	Acquire A	No	No	32.41	1,000	32.41 k	1,000