Arrow Financial Corporation logo

Arrow Financial Corporation

AROW

NASDAQFinancial ServicesBanks - Regional

Previous close

$38.48

+$0.15 · +0.39%

Aug 21, 4:00 PM ET

AROW company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Buy

Favorable setup — positive multi-factor alignment

Valuation

63

Undervalued

Momentum

54

Neutral

Sentiment

71

Bullish

Risk resilience

73

Moderate Risk

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Company profile

Company website

Arrow Financial Corporation functions as a bank holding company, delivering a comprehensive suite of commercial and consumer banking services, alongside various financial products. Its core deposit offerings include conventional options like demand accounts, interest-bearing checking accounts, savings accounts, and diverse time deposits. The company's lending portfolio features commercial credit facilities such as term loans, time-based notes, and revolving lines of credit. It also extends financing for commercial real estate, encompassing property acquisitions, refinancing, expansions, and improvements, in addition to loans for commercial construction and land development. On the consumer side, Arrow Financial provides installment loans for personal expenditures, personal lines of credit, overdraft protection, and automobile loans. Residential real estate financing is another key component, offering mortgages, fixed home equity loans, and home equity lines of credit to support home improvements, debt consolidation, educational funding, and other personal requirements. Furthermore, the company operates an indirect lending program and actively sells its originated residential real estate loans into the secondary market. Beyond traditional banking, Arrow Financial offers comprehensive wealth management and trust services. This includes retirement planning, trust administration, and estate management for individuals, as well as pension, profit-sharing, and employee benefit plan administration for corporate clients. The corporation also operates an insurance agency, providing group health, life, and property and casualty policies. Additionally, it offers investment advisory services for its proprietary mutual funds and holds an interest in a real estate investment trust. The company's operational footprint spans the northeastern region of New York State, specifically serving Warren, Washington, Saratoga, Essex, Clinton, Rensselaer, Albany, and Schenectady counties, along with neighboring communities. Its physical infrastructure comprises 26 owned branch banking locations, 12 leased branch offices, and two dedicated residential loan origination centers. Established in 1851, Arrow Financial Corporation maintains its corporate headquarters in Glens Falls, New York.

Industry
Banks - Regional
Sector
Financial Services
Headquarters
US
CEO
David S. DeMarco
Listed since
Sep 18, 1980
Employees
578

Market position

Day range

Current $38.48

52-week range

Current $38.48

Open
$38.69
Previous close
$38.33
Volume
301.69K
3.31× average
Average volume
91.08K
Average daily volume
Market cap
636.04M USD
Beta
0.74
Market reference 1
50-day average
$40.0152
-3.84% below average
200-day average
$35.3191
+8.95% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
518.26M USD
EV / EBITDA
8.52×
Earnings yield
8.48%
Free cash flow yield
6.98%

Profitability & efficiency

Return on equity
10.18%
Return on assets
0.99%
Return on invested capital
-7.23%

Financial health

Current ratio
0.04×
Altman Z-score
-0.85
Piotroski F-score
6 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends105%71%38%5%Gross margin, FY2021: 96.30%Gross margin, FY2022: 89.97%Gross margin, FY2023: 68.12%Gross margin, FY2024: 60.35%Gross margin, FY2025: 65.27%Operating margin, FY2021: 43.54%Operating margin, FY2022: 39.19%Operating margin, FY2023: 19.57%Operating margin, FY2024: 16.75%Operating margin, FY2025: 22.83%Net margin, FY2021: 33.71%Net margin, FY2022: 30.40%Net margin, FY2023: 15.69%Net margin, FY2024: 13.32%Net margin, FY2025: 18.12%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 96.30%. Gross margin FY2022 89.97%. Gross margin FY2023 68.12%. Gross margin FY2024 60.35%. Gross margin FY2025 65.27%. Operating margin FY2021 43.54%. Operating margin FY2022 39.19%. Operating margin FY2023 19.57%. Operating margin FY2024 16.75%. Operating margin FY2025 22.83%. Net margin FY2021 33.71%. Net margin FY2022 30.40%. Net margin FY2023 15.69%. Net margin FY2024 13.32%. Net margin FY2025 18.12%.

Income trends

Revenue

242.58M USD+8.75%

Operating income

55.39M USD+48.26%

Net income

43.95M USD+47.95%
Income trends across reported periods263.87M USD178.72M USD93.57M USD8.42M USDRevenue, FY2021: 147.92M USDRevenue, FY2022: 160.55M USDRevenue, FY2023: 191.68M USDRevenue, FY2024: 223.07M USDRevenue, FY2025: 242.58M USDOperating income, FY2021: 64.4M USDOperating income, FY2022: 62.91M USDOperating income, FY2023: 37.52M USDOperating income, FY2024: 37.36M USDOperating income, FY2025: 55.39M USDNet income, FY2021: 49.86M USDNet income, FY2022: 48.8M USDNet income, FY2023: 30.08M USDNet income, FY2024: 29.71M USDNet income, FY2025: 43.95M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 147.92M USD. Revenue FY2022 160.55M USD. Revenue FY2023 191.68M USD. Revenue FY2024 223.07M USD. Revenue FY2025 242.58M USD. Operating income FY2021 64.4M USD. Operating income FY2022 62.91M USD. Operating income FY2023 37.52M USD. Operating income FY2024 37.36M USD. Operating income FY2025 55.39M USD. Net income FY2021 49.86M USD. Net income FY2022 48.8M USD. Net income FY2023 30.08M USD. Net income FY2024 29.71M USD. Net income FY2025 43.95M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue242.58M USD223.07M USD191.68M USD160.55M USD147.92M USD
Cost of goods sold84.26M USD88.44M USD61.11M USD16.11M USD5.47M USD
Gross profit158.32M USD134.63M USD130.57M USD144.44M USD142.45M USD
Selling, general, and administrative84.84M USD56.74M USD50.89M USD49.37M USD46.92M USD
Operating expenses102.93M USD97.27M USD93.05M USD81.53M USD78.05M USD
Interest income210.15M USD194.99M USD162.56M USD129.65M USD115.55M USD
Interest expense76.98M USD83.26M USD57.73M USD11.31M USD5.2M USD
Depreciation and amortization5.42M USD5.36M USD6.72M USD7.55M USD7.83M USD
Operating income55.39M USD37.36M USD37.52M USD62.91M USD64.4M USD
Net income43.95M USD29.71M USD30.08M USD48.8M USD49.86M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
36%
4 beats, 6 misses, 1 met estimate
Average EPS surprise
-1.59%
11 comparable reports
Latest EPS result
0.71
Estimate 0.85 · Miss by 16.47%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.980.770.550.34Q1 '25MissQ2 '25MissQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26MissQ4 '26Estimate
Q1 2025, reported Jan 30, 2025: actual 0.47, estimate 0.57, surprise -17.54%, Miss. Q2 2025, reported May 1, 2025: actual 0.38, estimate 0.426, surprise -10.88%, Miss. Q3 2025, reported Jul 24, 2025: actual 0.7, estimate 0.6, surprise +16.67%, Beat. Q4 2025, reported Oct 30, 2025: actual 0.77, estimate 0.72, surprise +6.94%, Beat. Q1 2026, reported Jan 29, 2026: actual 0.85, estimate 0.8, surprise +6.25%, Beat. Q2 2026, reported Apr 30, 2026: actual 0.85, estimate 0.79, surprise +7.59%, Beat. Q3 2026, reported Jul 23, 2026: actual 0.71, estimate 0.85, surprise -16.47%, Miss. Q4 2026, reported Oct 29, 2026: actual —, estimate 0.94, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates59.83M50.42M41.02M31.61MQ1 '25MissQ2 '25MissQ3 '25MissQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26MissQ4 '26Estimate
Q1 2025, reported Jan 30, 2025: actual 33.91M USD, estimate 39.17M USD, surprise -13.42%, Miss. Q2 2025, reported May 1, 2025: actual 39.2M USD, estimate 39.9M USD, surprise -1.76%, Miss. Q3 2025, reported Jul 24, 2025: actual 40.14M USD, estimate 41M USD, surprise -2.09%, Miss. Q4 2025, reported Oct 30, 2025: actual 42.85M USD, estimate 41.7M USD, surprise +2.75%, Beat. Q1 2026, reported Jan 29, 2026: actual 43.41M USD, estimate 43.3M USD, surprise +0.26%, Beat. Q2 2026, reported Apr 30, 2026: actual 44.76M USD, estimate 43.8M USD, surprise +2.19%, Beat. Q3 2026, reported Jul 23, 2026: actual 44.19M USD, estimate 45.51M USD, surprise -2.91%, Miss. Q4 2026, reported Oct 29, 2026: actual —, estimate 57.53M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$46.00

19.54% upside
Past 12 months12-month forecastHigh $46.00Average $46.00Low $46.00

Recent analyst actions

1 institution

AROW news

Corporate actions

Corporate action history

Stock split

Effective Sep 19, 2023

103:100

Stock split

Effective Sep 16, 2022

103:100

Stock split

Effective Sep 16, 2021

103:100

Stock split

Effective Sep 16, 2020

103:100

Stock split

Effective Sep 16, 2019

103:100

Stock split

Effective Sep 18, 2018

103:100

AROW peers

ETFs holding AROW

Funds reporting this stock among their holdings, ordered by reported position size.

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