Arrow Financial (AROW)

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

Citigroup • Wells Fargo & Co. • JPMorgan Chase & Co. • U.S. Bancorp. • PNC Financial Services • Capital One Financial • Shinhan Financial • HSBC USA • Regions Financial • Keycorp ...

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

News

From Benzinga Pro

Recap: Arrow Financial Q2 Earnings

27 Jul 22

Arrow Financial (NASDAQ:AROW) reported its Q2 earnings results on Wednesday, July 27, 2022 at 08:00 AM. Here's what investors need to know about the announcement.

Arrow Financial Q2 EPS $0.75 Down From $0.83 YoY

27 Jul 22

Arrow Financial (NASDAQ:AROW) reported quarterly earnings of $0.75 per share. This is a 9.64 percent decrease over earnings of $0.83 per share from the same period last year.

Press releases

From Benzinga Pro

Arrow Declares September 2022 Cash Dividend

28 Jul 22

GLENS FALLS, N.Y., July 28, 2022 /PRNewswire/ -- The Board of Directors of Arrow Financial Corporation (NasdaqGS® - AROW) on July 27, 2022, declared a quarterly cash dividend of $0.27 per share

Arrow Reports $12.0 million in Q2 Net Income, Loan Growth of $108 Million

27 Jul 22

GLENS FALLS, N.Y., July 27, 2022 /PRNewswire/ -- Arrow Financial Corporation (NasdaqGS® – AROW) announced financial results for the three-month period ended June 30, 2022. Net income for the second quarter of 2022

Investment data

Data from SEC filings

Securities sold

Number of investors

Top 50 of 294 long holdings End of quarter 30 Jun 22	Value	#Shares	Prev Q	Change %, QoQ
Vanguard Growth Etf	$138.46M	508.36K	550.55K	-7.7
Ishares Core S&P Mid-cap Etf	$80.62M	610.9K	613.77K	-0.5
AROW Arrow Financial Corporation	$48.54M	1.53M	1.49M	+2.7
IBB Ishares Core Msci Dev MKTS Etf	$42.82M	1M	841.49K	+19.0
IBB Ishares Ibonds Dec 2022 Term C	$33.21M	1.33M	250.58K	+432.5
AAPL Apple Inc	$18.53M	135.56K	139.66K	-2.9
MSFT Microsoft Corp	$17.58M	68.43K	71.82K	-4.7
IBB Ishares Ibonds Dec 2024 Muni E	$17.33M	710.14K	137.29K	+417.3
QQQ Invesco QQQ Trust Series 1	$15.45M	55.11K	52.46K	+5.1
Vanguard Int-term Corporate	$14.86M	194.93K	327.71K	-40.5
GOOG Alphabet Inc CL a	$13.44M	6.16K	6.34K	-2.8
V Visa Inc CL a	$11.14M	56.57K	57.3K	-1.3
STT Comm. Serv. Select Sector SPDR	$10.69M	138.89K	137.8K	+0.8
AMZN Amazon.com Inc	$9.09M	85.62K	4.39K	+1850.8
IBB Ishares Microcap Etf	$8.92M	163.14K	211.75K	-23.0
JNJ Johnson & Johnson	$8.53M	48.04K	48.83K	-1.6
HD Home Depot Inc	$7.71M	28.13K	27.05K	+4.0
UNH Unitedhealth Group Inc	$6.91M	13.46K	15.29K	-12.0
JPM JP Morgan Chase & Co	$6.49M	57.65K	58.38K	-1.2
PFE Pfizer Inc	$6.41M	122.24K	123.86K	-1.3
TMO Thermo Fisher Scientific Inc	$6.27M	11.54K	12.47K	-7.5
MSCI Adobe Inc	$6.15M	16.8K	16.53K	+1.6
SPY SPDR S&P 500 Etf Trust	$5.95M	15.77K	15.6K	+1.1
BRK.A Berkshire Hathaway Inc-cl B	$5.67M	20.79K	21.19K	-1.9
PG Procter & Gamble Co	$5.53M	38.48K	39.12K	-1.6
ORCL Oracle Corporation	$4.83M	69.1K	69.12K	-0.0
ICE Intercontinental Exchange Grou	$4.66M	49.56K	49.86K	-0.6
XOM Exxon Mobil Corp	$4.56M	53.19K	55.35K	-3.9
PEP Pepsico Inc	$4.51M	27.08K	29.15K	-7.1
ABT Abbott Labs	$4.42M	40.66K	39.36K	+3.3
BLK Blackrock Inc CL a	$4.34M	7.12K	7.09K	+0.4
HON Honeywell International Inc	$4.3M	24.71K	24.92K	-0.8
AMGN Amgen Inc	$4.2M	17.26K	17.63K	-2.1
DLTR Dollar Tree Inc	$4.18M	26.84K	24.84K	+8.1
SYK Stryker Corporation	$4.13M	20.75K	20.97K	-1.1
BAC Bank of America Corp	$4.06M	130.43K	128.97K	+1.1
COST Costco Wholesale Corp	$4.04M	8.43K	8.78K	-4.0
CRM Salesforce Inc	$4.03M	24.39K	24.61K	-0.9
UNP Union Pac Corp	$4M	18.76K	18.15K	+3.4
QCOM Qualcomm Inc	$3.93M	30.73K	30.15K	+1.9
CSCO Cisco Systems Inc	$3.86M	90.6K	89.68K	+1.0
VZ Verizon Communications	$3.31M	65.19K	66.79K	-2.4
DIS Disney Walt Co New	$3.31M	35.01K	35.44K	-1.2
TJX TJX Cos Inc	$3.2M	57.32K	56.97K	+0.6
WMT Walmart Inc	$3.11M	25.57K	25.15K	+1.7
INTC Intel Corp	$3.07M	81.9K	80.58K	+1.6
BMY Bristol Myers Squibb Co	$3.03M	39.34K	39.67K	-0.8
MAS Masco Corp	$2.97M	58.75K	59.26K	-0.9
ATVI Activision Blizzard Inc	$2.96M	37.99K	37.11K	+2.4
MCD Mcdonalds Corp	$2.88M	11.66K	11.44K	+1.9

Arrow Financial holdings history Holdings history

Holdings list only includes long positions. Only includes long positions.

Calendar

5 Aug 22

18 Aug 22

31 Dec 22

Financial summary

Financial statements Chart AROW financial data

Quarter (USD)	Jun 22	Mar 22	Dec 21	Sep 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)	217.25M	217.25M	217.25M	217.25M	217.25M	217.25M
Cash burn (monthly)	90.11M	21.75M	8.86M	8.59M	(no burn)	(no burn)
Cash used (since last report)	148.42M	35.82M	14.6M	14.15M	n/a	n/a
Cash remaining	68.83M	181.43M	202.66M	203.11M	n/a	n/a
Runway (months of cash)	0.8	8.3	22.9	23.6	n/a	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Recent insider trades

AROW insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
17 Aug 22	Andrew J Wise	Common Stock	Option exercise	Acquire M	No	No	29.02	1,000	29.02K	5,547
17 Aug 22	Andrew J Wise	Common Stock	Option exercise	Acquire M	No	No	29.14	406	11.83K	4,547
17 Aug 22	Andrew J Wise	Common Stock	Payment of exercise	Dispose F	No	No	35.36	821	29.03K	4,141
17 Aug 22	Andrew J Wise	Employee Stock Option Common Stock	Grant	Acquire A	No	No	29.02	1,000	29.02K	3,743
17 Aug 22	Andrew J Wise	Employee Stock Option Common Stock	Option exercise	Dispose M	No	No	29.14	406	11.83K	0
13 Jul 22	Dake Gary C	Common Stock	Other	Acquire J	No	No	31.35	257	8.06K	41,518
13 Jul 22	Casaccio Tenee R	Common Stock	Other	Acquire J	No	No	31.35	255	7.99K	16,643
13 Jul 22	Kruczlnicki David G	Common Stock	Other	Acquire J	No	No	31.35	263	8.25K	49,336
13 Jul 22	Gregory J Champion	Common Stock	Other	Acquire J	No	No	31.35	241	7.56K	3,807

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q2 2022

AROW institutional ownership history Ownership history

44.2% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	90	91	-1.1%
Opened positions	7	7	–
Closed positions	8	8	–
Increased positions	25	31	-19.4%
Reduced positions	31	30	+3.3%

13F shares	Current	Prev Q	Change
Total value	703.13M	231.16M	+204.2%
Total shares	7.08M	7.13M	-0.7%
Total puts	0	0
Total calls	0	0
Total put/call ratio	–	–	–

Largest owners	Shares	Value	Change
AROW Arrow Financial	1.53M	$48.54M	+2.7%
BLK Blackrock	1.13M	$35.82M	+2.7%
Vanguard	685.16K	$21.8M	-4.6%
Dimensional Fund Advisors	677.74K	$21.56M	+0.7%
FMR	503.51K	$16.02M	-1.7%
STT State Street	349.03K	$11.1M	+0.7%
Renaissance Technologies	316.42K	$10.07M	-8.4%
Geode Capital Management	261.08K	$8.31M	+2.7%
NTRS Northern Trust	171.57K	$5.46M	-1.0%
Charles Schwab Investment Management	107.8K	$3.43M	-3.1%

Largest transactions	Shares	Bought/sold	Change
Parametric Portfolio Associates	0	-67.16K	EXIT
MS Morgan Stanley	71.29K	+64.18K	+903.9%
AROW Arrow Financial	1.53M	+39.84K	+2.7%
Vanguard	685.16K	-33.31K	-4.6%
BLK Blackrock	1.13M	+29.7K	+2.7%
Renaissance Technologies	316.42K	-29.2K	-8.4%
MTB M & T Bank	26.4K	+26.4K	NEW
PBCT People's United Financial	0	-26.4K	EXIT
Walthausen & Co.	40.32K	-20.2K	-33.4%
American Century Companies	75.15K	+15.21K	+25.4%

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.

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. freshman Bad

New words: addressing, Annex, building, clear, delayed, diminished, disposal, empower, enable, fewer, labor, nationwide, nonfarm, outpacing, payroll, Proxy, successfully, summarize, tough, uniform, upgrade

Removed: abundance, amplified, card, Continuity, debit, declined, driver, flat, interchange, pertaining, pronounced, recover, regularly, reversal, sharply, usage

From filing 10-Q 2022 Q2

Financial reports

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