AROW Arrow Financial Corp

XNAS 38.13 Delayed
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Stock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups Expected move IV rank history Fibonacci levels Insider trading

Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.

AROW $38.13 —
Key stats
$38.13
52-Week Range
$26.17 – $42.70
YTD
+21.82%
IV Rank (30D)
28.09
Straddle Price
$5.25
Market Cap
$0.7B
Open
$37.25
Day Range
$37.23 – $38.33
Volume
32,341
Prev Close
$37.19
Fair Value
MODEL: LONG

A blended fair-value estimate combining up to six valuation methods. Each method is weighted by how well it fits the company — DCF down-weights for unprofitable names; DDM only fires for steady dividend payers; comparables down-weight when peer multiples disagree.

  • DCF (quality-aware) — projects free cash flow with a horizon that scales to business quality. True compounders (quality 6/6) get 10 years explicit + 10 years fade before terminal; cyclical/struggling names (quality 0-1) get a 5-year terminal cliff. Quality is scored from ROE, gross margin, growth, FCF margin, debt load, and FCF consistency — the same factors that drive market premium for compounders.
  • Market-Implied Growth (in Model Inputs) — reverse-DCF that answers "what growth rate is the market pricing in?". Lets you sanity-check the deviation: if implied growth is plausible for the business, the model's bearish flag may be wrong; if implausible, the market may be over-extrapolating.
  • DDM (Gordon Growth Dividend Model) — values the stream of future dividends. Only used when trailing yield ≥ 2% and dividend payments are stable — below that the dividend is a token payout and Gordon (which values only the dividend stream) systematically underprices growth names, so those route to DCF + comparables + market anchor instead.
  • P/E, EV/EBITDA, P/B, P/S — applies the peer-group median multiple to this company's per-share metric. Peers come from the same set as the "Related symbols" card. Earnings/sales metrics are forward-tilted by the company's recent revenue growth (capped at 25%) so they're comparable to peers' growth-embedded multiples — mimics how analysts use NTM rather than TTM. Per-multiple weights are biased by company quality (e.g. P/B down-weighted for asset-light tech).
  • Market Anchor (SMA50) — the 50-day moving average, weighted by recent trading-range stability (tighter Bollinger bands → higher weight). Captures information fundamentals miss (forward consensus, sentiment, supply/demand) — but only when recent trading is steady enough that the market has converged on a view. During wild breakouts or breakdowns the anchor's weight collapses.
  • Options Expected (B-L 30d) — the risk-neutral expected stock price at 30-day options expiration, derived from the full implied-volatility surface via Breeden-Litzenberger (second derivative of call price wrt strike → implied PDF, then E[S_T]). Forward-looking, captures all options-implied information (smile, skew, term structure) in one number. Weighted by chain liquidity. SP500-only at present (pre-computed daily). Backtest evidence: adds modest alpha across most bucket × holding combos.
  • Blended value — weighted average. Confidence reflects how many methods fired and how tight peer dispersion is.
  • Deviation pill — green when blended FV ≥ 10% above current price (undervalued); red when ≥ 10% below; grey otherwise.
10-yr Treasury (rf)5.15%
Beta vs SPY0.72
Cost of Equity (CAPM)8.76% (VRP-adj)
WACC8.65%
Volatility Risk Premium+49.4pp (IV − HV30)
Effective Tax Rate20.9%
Rev. Growth (YoY, DCF input)+5.5%
DCF Horizon12 years explicit + fade
Forward Tilt (NTM/TTM)×1.05 (applied to P/E, EV/EBITDA, P/S)
Free Cash Flow (TTM)$0.0B
Return on Equity (TTM)11.5%
Book / Price71.9% — banking bias active (P/B is primary)
Bank Quality Adj×1.06 (target ROE vs peer median)
Gross Margin (TTM)69.4%
FCF Margin (TTM)19.3%
Debt / Equity0.06
Quality Score4/6 — high quality (12y DCF)
Market-Implied Growth-1.6% (reverse-DCF on current price)
SMA 50$37.91 (Market Anchor value)
SMA 20 / Bollinger Mid$37.06
Bollinger Width / SMA2012.9% (drives anchor stability)
Net Debt$-0.0B
Market Cap$1B
Peers used for multiples: CCBG, CTO, FISI, IBCP, ORRF, SHBI, WASH (filtered from 8 ETF-co-members; sector bias active)
60-Day Conviction
73%
20-Day Fair Value
≈ by Nov 20, 2026
$38.27
α +0.3% rank 32%
conviction
22%
40-Day Fair Value
≈ by Dec 21, 2026
$38.69
α +1.4% rank 45%
conviction
45%
60-Day Fair Value
≈ by Jan 19, 2027
$39.04
α +2.3% rank 36%
conviction
73%
MethodImplied PriceWeightDetail
DCF $58.89 23%
DDM (Gordon) $33.22 18%
Peer P/E $39.97 7% median 11.6× · 7 peers
Peer EV/EBITDA n/a 0% median 10.5× · 7 peers
Peer P/B $35.02 10% median 1.3× · 7 peers
Peer P/S $38.58 3% median 2.3× · 7 peers
Market Anchor (SMA50) $37.91 39% stability 85% (BB-width)
Options Expected (B-L 30d) $38.35 0% 7 strikes · skew -0.52
As of 2026-10-22 · updated
About
Industry (SIC)
NATIONAL COMMERCIAL BANKS (6021) · industry map
Exchange
XNAS
Market Cap
$0.7B
Employees
578
List Date
1980-08-06
CIK
0000717538
Next Earnings
2026-10-29 (After-Close)
EPS Forecast
$0.94 (2 est.)
Headquarters
Glens Falls, NY
Homepage
https://www.arrowfinancial.com

Arrow Financial Corp is a holding company. It provides various advisory and administrative services and coordinates the general policies and operations of the banks. It provides financial products, including online and mobile banking, mortgages, commercial loans, investments, and others. The company also provides lending services, including commercial and industrial lending to small and mid-sized companies; mortgage lending for residential and commercial properties; and consumer installment and home equity financing. The key source of the company's revenue is interest income, fees, commission …

Summary
—
composite
—
No summary data available for this symbol yet.

Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.

Chart
Seasonality
'21'22'23'24'25'26Avg
Jan-1.64%-1.12%-3.15%-10.86%-4.28%8.02%-2.17%
Feb8.77%-2.44%-5.95%-3.96%3.80%-3.81%-0.60%
Mar3.93%-2.88%-17.16%4.42%-2.27%0.15%-2.30%
Apr4.43%-2.98%-12.91%-8.92%-6.91%8.38%-3.15%
May3.03%6.49%-15.67%7.86%5.53%-1.18%1.01%
Jun-2.84%-3.34%10.66%4.12%3.97%12.64%4.20%
Jul-0.39%3.84%-1.03%21.79%-1.29%-4.80%3.02%
Aug3.63%-5.03%-13.42%1.03%13.65%-6.42%-1.09%
Sep-5.83%-7.93%-2.72%-2.81%-4.20%-1.44%-4.16%
Oct1.01%17.08%25.95%2.48%0.14%2.36%*8.17%
Nov-5.09%2.06%13.54%14.43%2.24%--5.44%
Dec2.83%-3.34%5.67%-13.18%4.09%---0.79%
Total11.39%-1.88%-22.75%11.33%13.59%12.83%4.08%
Technical Indicators

Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.

Trend Indicators
  • SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
  • EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
  • MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
  • ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
  • +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
  • RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
  • Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
  • Williams %R — inverted scale: <−80 oversold, >−20 overbought.

Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.

Volume & Volatility
  • Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
  • OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
  • Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
  • ATR / True Range — average daily $ move; sizing and stop-loss reference.
  • HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.

Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →

Trend Indicators

SMA 20: $37.10
SMA 50: $37.89
SMA 200: $36.76
Current: $38.15
EMA 12: $37.18
EMA 26: $37.37
MACD: -0.1879 | Signal: 0.1769
BEARISH
ADX (14): 21.77
WEAK TREND
+DI: 24.97
−DI: 20.69

Momentum Oscillators

RSI (14): 57.39
NEUTRAL
Stoch %K: 80.43
Stoch %D: 69.34
Williams %R: -6.74

Volume & Volatility

BB Upper: $38.10
BB Lower: $36.10
OVERBOUGHT
OBV: 789,473
Vol SMA 20: 69,027
Vol ROC: -53.20%
ATR: $0.81
True Range: $1.14
HV 20: 20.2%
HV 30: 18.0%
HV 60: 18.0%

Data Summary

Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis

LLM Stock Analysis Report

Executive Summary

Overall Assessment: NEUTRAL (confidence level 6/10)

Key Drivers and Primary Risks:

  • Strategic acquisition of Adirondack Bancorp, Inc.
  • Low volatility, indicating a stable market environment
  • Recent earnings history suggests a relatively steady performance

2-3 Sentence Investment Thesis: Arrow Financial Corporation's recent acquisition and low volatility suggest a stable investment opportunity. However, the stock's current momentum signals a potential consolidation phase, which may impact short-term returns.

Recent News Sentiment Impact: The news headlines are mostly neutral, with no significant positive or negative sentiment. The acquisition announcement is likely to have a long-term impact on the company's growth prospects.

Technical Analysis

Trend Direction:

  • Short-term (1-4 weeks): Consolidation
  • Medium-term (1-3 months): Uptrend
  • Long-term (3-12 months): Uptrend

Support/Resistance Levels:

  • Resistance: $36.34 (Bollinger Band Upper)
  • Support: $33.24 (Bollinger Band Lower)

Momentum Signals:

  • RSI interpretation: Neutral (43.62)
  • MACD signal: Bullish momentum
  • Bollinger Bands position: Neutral

Volume Analysis:

  • Volume SMA 20: 84915.25
  • On-Balance Volume (OBV): -491451.00
  • Volume Rate of Change: -1.77%

News & Sentiment Analysis

Recent Headlines Summary: The news headlines are mostly neutral, with no significant positive or negative sentiment.

Sentiment Assessment: Neutral (average sentiment across all headlines)

Catalyst Identification: The acquisition announcement is the primary catalyst for this stock's recent movement.

Market Narrative: The market narrative suggests a stable environment, with low volatility and no significant news driving the price movement.

Risk & Volatility Assessment

Beta Interpretation: Low risk (beta = 0.70)

Volatility Regime: Low volatility regime

Options Market Signals:

  • IV rank: High (75.6%)
  • Put/call ratios: Neutral (0.80)
  • Unusual activity: None reported

Downside Protection: Support levels and risk management considerations suggest a relatively stable environment.

Market Context & Positioning

Sector Performance: Arrow Financial Corporation is positioned in the Financial sector, which has been experiencing relatively low volatility.

Institutional Activity: Volume patterns suggesting institutional interest are neutral.

Correlation Analysis: The stock's movements are relatively correlated with the market (R-squared = 0.47).

Relative Valuation: The stock is trading within a relatively stable range.

Key Levels & Action Items

Critical Price Levels:

  • Support: $33.24
  • Resistance: $36.34

Breakout/Breakdown Levels: None reported

Time-Sensitive Catalysts: Earnings date (not specified)

Risk Management: Stop-loss levels and position sizing considerations suggest a relatively stable environment.

By analyzing the technical indicators, recent news headlines, and risk metrics, we can conclude that Arrow Financial Corporation's stock is currently in a consolidation phase. The low volatility regime suggests a stable market environment, while the acquisition announcement provides a catalyst for long-term growth prospects. However, the options market signals indicate high volatility, which may impact short-term returns. As such, investors should consider the risk-reward analysis and position sizing considerations before making an investment decision.

Generated
News
All AROW news →
Earnings History
13 of 13 under expected move
Avg Expected Move
14.42%
Avg Actual Move
2.72%
Each row pairs the pre-earnings straddle-implied expected move with the realized close-to-close move. Sorted oldest first.
Earnings Date Timing Expected Move Actual Move Ratio Outcome
2023-07-24 After-Close 13.21% 5.21% 0.39x Within
2023-10-24 After-Close 12.09% 9.57% 0.79x Within
2024-02-01 After-Close 12.13% 3.16% 0.26x Within
2024-04-30 After-Close 6.65% 4.54% 0.68x Within
2024-07-25 After-Close 15.58% 0.74% 0.05x Within
2024-10-31 Pre-Market 16.36% 2.73% 0.17x Within
2025-01-30 After-Close 13.21% 1.66% 0.13x Within
2025-05-01 Pre-Market 19.47% 0.53% 0.03x Within
2025-07-24 After-Close 19.50% 0.74% 0.04x Within
2025-10-30 After-Close 18.99% 2.84% 0.15x Within
2026-01-29 After-Close 15.40% 2.07% 0.13x Within
2026-04-30 After-Close 12.96% 0.79% 0.06x Within
2026-07-23 After-Close 11.94% 0.79% 0.07x Within

Earnings calendar: this week’s reports with expected vs actual moves →

AROW Options Activity & IV Rank

AROW IV rank history, 52-week IV rank and IV percentile →

Volatility Metrics

Current IV: 32.3%
7-DTE IV: —
Expected Move: $5.25
7-DTE Move: $5.25
Days to Exp: 29 (2026-11-20)

Options Flow

Call Volume: 0
Put Volume: 8
P/C Volume: —
Call OI: 0
Put OI: 8
P/C OI: —
Total OI: 8

ATM Options Pricing

ATM Call: $2.45
ATM Put: $2.80
Call %: 6.4%
Put %: 7.3%

Chain Summary

Chain Volume: 38
Chain OI: 49
Last Updated: 10/22/2026
Spread Scanner GPU
Full Algorithm Docs ↗

Each spread is ranked by a composite score built in three stages. Full documentation →

Stage 1 — Base Score (GPU scanner)

score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.

Stage 2 — Skew Adjustment (±25% cap)

RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.

Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
  • RSI <40 bullish / >60 bearish
  • MACD crossover + histogram trend
  • Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
  • Stochastic %K <20 / >80
  • Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
  • Blended ATR + straddle expected-move penalty
  • Bollinger Band signal (+ counter-trend penalty)
  • BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
  • IV rank ≥ 75 → strong boost for credit spreads
  • IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
  • Min open interest across all legs
  • OI < 100 → −0.10 · OI < 500 → −0.05

score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →

Enter a ticker to scan for optimal spread opportunities.

Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.

Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Metric:
Wing vs ATM
IV(put wing) − IV(ATM), in vol points

How much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.

  • Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
  • Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
  • Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
  • Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each side

Which side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.

  • Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
  • Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
  • Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
  • Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together

Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:

  • High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
  • Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
  • Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d —
— pts EXTREME
No data
30 DTE / 10d —
— pts EXTREME
ATM 40.4% / Wing —

Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.

Volatility Surface

Enter a ticker to render the implied volatility surface.

Volatility Smile

Enter a ticker to render the implied volatility smile.

IV Rank (7 DTE)
IV Rank (30 DTE)28.1MediumOct 22
Straddle Price (30 DTE)$5.25Oct 22
Beta Analysis

Risk Metrics

Beta: 0.3671
Alpha: 31.56%
Correlation: 0.1864
R-Squared: 3.5%
Stock Volatility: 25.2%
Market Volatility: 12.8%

Analysis Details

Benchmark: SPY
Data Points: 251
Period: 252 trading days
Interpretation:
Low volatility - stock moves less than market
Beta & Alpha Over Time
Notable investors who own AROW
3 of 37 tracked investors
InvestorValueShare of their portfolioRankQ/Q sharesSource
Renaissance Technologies Hedge fund
Jim Simons
$7.7M
0.01%
#1201 of 3138-18.9%13F
Rockefeller Capital Management Family office
Rockefeller family
$4.9M
0.01%
#973 of 4729+0.3%13F
Citadel Hedge fund
Ken Griffin
$2.4M
0.00%
#2727 of 6285+210.9%13F

Hedge funds, activists, holding companies and family offices we track, from their latest 13F (quarter-end value) and Form 4 filings in the last 3 years. Family offices · all institutions

AROW Institutional Ownership (13F)

Latest filings — 2026-09-30
Diluted shares outstanding: 16,466,270 (as of 2026-03-31)

Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.

  • Shares — long equity positions in this name, aggregated across share classes.
  • Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
  • % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
  • Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.

Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.

155 filers11,571,899 shares$456.73M value70.28% of float
# Filer Shares Value % of Total % of Float Period
1 Arrow Financial Corp 1,859,963 $76.24M 16.69% 11.30% 2026-06-30
2 BlackRock, Inc. Custodian 1,399,785 $57.38M 12.56% 8.50% 2026-06-30
3 Dimensional Fund Advisors LP Custodian 725,492 $29.74M 6.51% 4.41% 2026-06-30
4 Vanguard Group Inc Custodian 876,807 $27.53M 6.03% 5.32% 2025-12-31
5 Rhino Investment Partners, Inc 847,563 $26.08M 5.71% 5.15% 2026-06-30
6 Vanguard Capital Management LLC 623,719 $25.57M 5.60% 3.79% 2026-06-30
7 State Street Corp 490,098 $20.09M 4.40% 2.98% 2026-06-30
8 American Century Companies, Inc. 432,990 $17.75M 3.89% 2.63% 2026-06-30
9 Geode Capital Management, LLC Custodian 409,589 $16.79M 3.68% 2.49% 2026-06-30
10 ACADIAN ASSET MANAGEMENT LLC 345,161 $14.14M 3.10% 2.10% 2026-06-30
11 Morgan Stanley Custodian 224,482 $9.20M 2.01% 1.36% 2026-06-30
12 HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 189,939 $7.79M 1.70% 1.15% 2026-06-30
13 RENAISSANCE TECHNOLOGIES LLC 186,721 $7.65M 1.68% 1.13% 2026-06-30
14 Arrowstreet Capital, Limited Partnership 149,239 $6.12M 1.34% 0.91% 2026-06-30
15 Two Sigma Investments, LP Custodian 144,861 $5.94M 1.30% 0.88% 2026-06-30
16 Northern Trust Corp Custodian 141,937 $5.82M 1.27% 0.86% 2026-06-30
17 Vanguard Portfolio Management LLC 136,862 $5.61M 1.23% 0.83% 2026-06-30
18 Charles Schwab Investment Management, Inc. 125,799 $5.16M 1.13% 0.76% 2026-06-30
19 Connor, Clark & Lunn Investment Management Ltd. 121,870 $5.00M 1.09% 0.74% 2026-06-30
20 Rockefeller Capital Management L.P. Custodian 120,712 $4.95M 1.08% 0.73% 2026-06-30
21 AQR Capital Management, LLC Custodian 116,804 $4.79M 1.05% 0.71% 2026-06-30
22 Goldman Sachs Group Inc Custodian 99,248 $4.07M 0.89% 0.60% 2026-06-30
23 Vanguard Fiduciary Trust Co 96,076 $3.94M 0.86% 0.58% 2026-06-30
24 Bank of New York Mellon Corp Custodian 89,370 $3.66M 0.80% 0.54% 2026-06-30
25 VOYA INVESTMENT MANAGEMENT LLC 82,267 $3.37M 0.74% 0.50% 2026-06-30
# Filer Notional Value % of Total Period
# Filer Notional Value % of Total Period

AROW Insider Trading (Form 4)

Latest: 2026-09-25
Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.
Filed Reporter Role Action Shares Avg Price Net $ Link
2026-09-25 James M Dawsey Director Other (J) +389 $36.97 $14.4K EDGAR
2026-09-25 Rocco F Arcuri Sr. Director Other (J) +186 $36.97 $6.9K EDGAR
2026-09-25 Philip C Morris Director Other (J) +203 $36.97 $7.5K EDGAR
2026-09-25 Daniel James White Director Other (J) +228 $36.97 $8.4K EDGAR
2026-09-25 David G Kruczlnicki Director Other (J) +228 $36.97 $8.4K EDGAR
2026-09-25 Kristine D Duffy Director Other (J) +203 $36.97 $7.5K EDGAR
2026-09-25 Tenee R Casaccio Director Other (J) +304 $36.97 $11.2K EDGAR
2026-09-25 Darrin Jahnel Director Other (J) +298 $36.97 $11.0K EDGAR
2026-09-25 Gregory J Champion Director Other (J) +423 $36.97 $15.6K EDGAR
2026-09-25 Colin L Read Director Other (J) +194 $36.97 $7.2K EDGAR
2026-09-25 Mark Behan Director Other (J) +211 $36.97 $7.8K EDGAR
2026-09-25 Raymond F O'Conor Director Mixed +63 $36.97 $7.5K EDGAR
2026-09-09 David S. DeMarco President & CEO Mixed +267 $34.54 -$5.9K EDGAR
2026-09-01 David S. DeMarco President & CEO Mixed +627 $33.91 -$10.7K EDGAR
2026-08-18 Mark Behan Director Mixed +333 $31.89 $21 EDGAR
Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.

AROW Insider Holdings

21 insiders · @ $38.15
Officers, directors, and 10%+ owners who have filed a Form 4 in the past two years, ranked by current disclosed exposure (shares × today's price). Shares are direct + indirect (via trusts / LLCs / spouse). Excludes unvested RSU and option grants — those aren't beneficially owned until vest.
# Insider Role Shares Disclosed Exposure Lifetime OM Net Filings Last Filed
1 David S. DeMarco President & CEO 98,861 $3.77M -$1.49M 56 2026-09-09
2 Gary C Dake Director 76,292 $2.91M -$285.4K 77 2025-04-10
3 David G Kruczlnicki Director 75,257 $2.87M -$634.5K 80 2026-09-25
4 Elizabeth Miller Director 46,423 $1.77M $63.8K 43 2026-03-20
5 Colin L Read Director 33,777 $1.29M $54.1K 69 2026-09-25
6 Raymond F O'Conor Director 32,313 $1.23M -$1.03M 86 2026-09-25
7 David D Kaiser CCO & SEVP 32,132 $1.23M -$12.6K 23 2025-02-03
8 Penko Krassimir Ivanov SEVP, Treasurer and CFO 31,045 $1.18M $585.1K 7 2026-02-02
9 Tenee R Casaccio Director 29,169 $1.11M $0 47 2026-09-25
10 Andrew J Wise SEVP, Chief Risk Officer 25,818 $985.0K $72.8K 18 2026-02-02
Lifetime OM Net = signed sum of open-market buys (P) and sells (S) over their career; excludes grants, tax withholdings, and dispositions to issuer. A large negative number is normal for long-tenured executives — they've sold compensation grants over many years.

AROW Board & Officers

As of SEC filings through Sep 25, 2026

Directors 12

Officers 6

Changes in the last 10 years (28)
Jul 1, 2026Rocco F Arcuri Sr. became a director
Jan 28, 2026The company announced the departure of Elizabeth Miller from the board in an SEC filing
Nov 25, 2025Darrin Jahnel became a director
Apr 14, 2025The company announced the departure of David D Kaiser as SVP in an SEC filing
Feb 3, 2025Penko Krassimir Ivanov listed as SEVP, Treasurer and CFO (previously EVP, Treasurer and CFO) in SEC filings
Feb 3, 2025David S. DeMarco listed as President & CEO (previously SVP) in SEC filings
Jan 29, 2025The company announced the departure of Gary C Dake from the board in an SEC filing
Nov 5, 2024Philip C Morris became a director
Nov 5, 2024Kristine D Duffy became a director
Nov 5, 2024James M Dawsey became a director
Nov 5, 2024Daniel James White became a director
Jun 5, 2024The company announced the departure of William L Owens from the board in an SEC filing
Feb 7, 2024Andrew J Wise listed as SEVP, Chief Risk Officer (previously SVP, Chief Operating Officer) in SEC filings
Jan 2, 2024Michael Joseph Jacobs became EVP, Chief Information Officer
Jan 2, 2024Marc Yrsha became SEVP, Chief Banking Officer
Jan 2, 2024Brooke M Pancoe became EVP, Chief HR Officer
May 12, 2023The company announced the departure of Thomas J. Murphy from the board in an SEC filing
Feb 21, 2023Penko Krassimir Ivanov became EVP, Treasurer and CFO
Jan 12, 2023Thomas L Hoy first listed as a director in an SEC filing
Sep 28, 2022The company announced the departure of Thomas J. Murphy as President & CEO in an SEC filing
Not reported recently (6)
  • Thomas L Hoy · Last reported as a director in an SEC filing dated May 30, 2023
  • Michael B Clarke · Last reported as a director in an SEC filing dated Jun 30, 2022
  • Richard J Dmd Reisman · Last reported as a director in an SEC filing dated Apr 15, 2021
  • David L Moynehan · Last reported as a director in an SEC filing dated Feb 1, 2018
  • John J Carusone Jr · Last reported as a director in an SEC filing dated Jan 26, 2017
  • Terry R Goodemote · Last reported as EVP & CFO in an SEC filing dated Jan 26, 2017
Compiled from SEC filings by the company and its directors and officers. Dates are as stated in those filings. Where no filing says when someone left, we show the last filing that listed them.

AROW Proposed Insider Sales (Form 144)

Latest: 2025-04-29
Last 30d: 0 filings  ·  Last 90d: 0 filings

What is Form 144? A notice of intent to sell restricted or control stock under Rule 144. Affiliates (officers, directors, 10%+ owners) and holders of restricted shares must file Form 144 when planning to sell more than 5,000 shares or $50,000 in any 3-month rolling window.

How it relates to Form 4: Form 144 is filed before the trade (up to 90 days in advance); Form 4 is filed within 2 business days after the trade executes. Not every Form 144 results in a sale — the filer may cancel or delay. Look for the corresponding Form 4 on the Insider Activity card to confirm a sale actually happened.

10b5-1 plans: Trades made under a pre-scheduled Rule 10b5-1 plan are not discretionary — they execute automatically on dates set months earlier, regardless of news. High 10b5-1 percentages mean less per-filing signal value, though cumulative selling volume still matters.

"Notice value": Aggregate market value the filer wrote into the Form 144 — i.e. the size of the planned sale, not necessarily the executed dollars. An amended notice (Form 144/A) replaces the original it amends, and cancelled notices are dropped, so neither is double-counted above. A filed value that is clearly inconsistent with the share count at the stock's price (a filer typo) shows as a dash and is left out of the totals.

Source & freshness: Sourced from public Form 144 filings. Refreshed daily; new filings typically appear here the morning after they are filed.

Filed Filer Role Shares Notice Value Planned Sale Broker Plan Link
2025-04-29 Raymond F. O'Conor Director 2,000 $49.7K 2025-05-01 CAPIS 10b5-1 EDGAR
2025-03-31 Raymond F. O'Conor Director 2,000 $52.9K 2025-04-01 CAPIS 10b5-1 EDGAR
2025-02-28 Raymond F. O'Conor Director 2,000 $53.8K 2025-03-03 CAPIS — EDGAR
2025-01-31 Raymond F. O'Conor Director 2,000 $54.1K 2025-02-03 CAPIS — EDGAR
2025-01-02 Raymond F. O'Conor Director 2,000 $57.7K 2025-01-02 CAPIS 10b5-1 EDGAR
2024-12-02 Raymond F. O'Conor Director 2,000 $65.2K 2024-12-02 CAPIS 10b5-1 EDGAR
2024-10-29 Raymond F. O'Conor Director 2,000 $59.2K 2024-11-01 CAPIS 10b5-1 EDGAR
2024-09-26 Raymond F. O'Conor Director 2,000 $57.1K 2024-10-01 CAPIS 10b5-1 EDGAR
2024-08-27 Raymond F. O'Conor Director 2,000 $59.3K 2024-09-03 CAPIS — EDGAR
2024-08-14 Raymond F. O'Conor Director 2,000 $55.5K 2024-08-15 CAPIS 10b5-1 EDGAR
Notice value is the aggregate market value the filer states they intend to sell — not a confirmed transaction. Compare to Insider Activity (Form 4) to see which planned sales actually executed. Market-wide feed: Planned sales (Form 144).
ETF Holders
53 ETFs hold AROW
25 shown · $111.43M total exposure · 0.02% AUM-weighted avg weight
# ETF Provider Weight $ Exposure ETF AUM As Of
1 VTI Vanguard Morningstar Total Stock Market ETF Vanguard 0.00% $18.4M — 2026-09-30
2 IWM iShares Russell 2000 ETF iShares (BlackRock) 0.02% $16.8M $75.1B 2026-10-20
3 AVUV Avantis U.S. Small Cap Value ETF Avantis 0.05% $16.6M $31.4B 2026-10-20
4 DFAT Dimensional US Targeted Value ETF Dimensional 0.03% $7.9M — 2026-10-20
5 VXF Vanguard Extended Market ETF Vanguard 0.01% $6.8M — 2026-09-30
6 IWN iShares Russell 2000 Value ETF iShares (BlackRock) 0.04% $6.0M $13.7B 2026-10-20
7 DFAS Dimensional US Small Cap ETF Dimensional 0.01% $4.9M — 2026-10-20
8 KRE State Street® SPDR® S&P® Regional Banking ETF SPDR (State Street) 0.12% $4.7M $4.0B 2026-10-20
9 DFMC Dimensional US Micro Cap ETF Dimensional 0.05% $3.5M — 2026-10-20
10 VTWO Vanguard Russell 2000 ETF Vanguard 0.02% $3.5M — 2026-09-30
11 DFAC Dimensional US Core Equity 2 ETF Dimensional 0.00% $2.9M — 2026-10-20
12 FDM First Trust Dow Jones Select MicroCap Index Fund First Trust 0.99% $2.6M $264.8M 2026-10-20
13 FSMD Fidelity Small-Mid Multifactor ETF Fidelity 0.10% $2.6M $2.5B 2026-10-20
14 SCHA Schwab U.S. Small-Cap ETF Nport 0.01% $2.5M — 2026-05-31
15 DFSV Dimensional US Small Cap Value ETF Dimensional 0.01% $2.2M — 2026-10-20
16 IWC iShares Micro-Cap ETF iShares (BlackRock) 0.15% $1.9M $1.2B 2026-10-20
17 ITOT iShares Core S&P Total U.S. Stock Market ETF iShares (BlackRock) 0.00% $1.4M $97.4B 2026-10-20
18 AVSC Avantis U.S. Small Cap Equity ETF Avantis 0.04% $1.3M $3.1B 2026-10-20
19 VFH Vanguard Financials ETF Vanguard 0.01% $974,461 — 2026-09-30
20 VFMO Vanguard U.S. Momentum Factor ETF Vanguard 0.05% $947,185 — 2026-10-20
21 DCOR Dimensional US Core Equity 1 ETF Dimensional 0.00% $729,593 — 2026-10-20
22 DES WisdomTree U.S. SmallCap Dividend Fund Nport 0.03% $722,654 — 2026-06-30
23 VTWV Vanguard Russell 2000 Value ETF Vanguard 0.04% $559,309 — 2026-09-30
24 BFOR Barrons 400 ETF Nport 0.26% $556,372 — 2026-05-31
25 DXUV Dimensional US Vector Equity ETF Dimensional 0.01% $508,252 — 2026-10-20
Fundamentals

Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.

Metrics
  • Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
  • Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
  • Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
  • Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
  • Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
  • YoY growth — compare to the same quarter a year earlier to remove seasonality.
  • Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
  • Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.

TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.

Trailing P/E
12.35
TTM Diluted EPS
$3.09
TTM Revenue
$246.80M
TTM Net Income
$51.18M
TTM Op. Cash Flow
$46.45M
Quarterly figures (12 quarters)
QuarterPeriod EndRevenueNet IncomeDiluted EPSOp. Cash Flow
Q1 '262026-03-31$62.42M$13.48M$0.82$15.24M
Q4 '252025-12-31$62.88M$14.11M$0.85$5.91M
Q3 '252025-09-30$62.31M$12.78M$0.77$15.02M
Q2 '252025-06-30$59.18M$10.80M$0.65$10.28M
Q1 '252025-03-31$58.20M$6.31M$0.38$10.07M
Q4 '242024-12-31$55.13M$4.47M$0.27$5.62M
Q3 '242024-09-30$57.58M$8.97M$0.53$9.42M
Q2 '242024-06-30$55.83M$8.60M$0.52$9.08M
Q1 '242024-03-31$54.53M$7.66M$0.45$10.35M
Q4 '232023-12-31$51.81M$7.72M$0.46$-16.32M
Q3 '232023-09-30$50.17M$7.74M$0.46$11.20M
Q2 '232023-06-30$46.92M$6.05M$0.35$12.48M
Q1 2026 • period ending 2026-03-31 • filed 2026-05-08
Valuation

Ratios derived from TTM financials and the current market price, sampled daily. History chart shows how expensive the stock is today relative to its own recent past.

Price Multiples
  • P/E — price / TTM earnings. Rough market rule: 10–15 value, 15–25 market, >30 growth/premium. Negative when earnings are negative.
  • P/B — price / book value. Useful for financials and asset-heavy names; meaningless for asset-light software.
  • P/S — price / TTM revenue. Useful when earnings are negative or noisy (early-stage growth).
  • EV/EBITDA — capital-structure-neutral. <10 cheap, 10–15 reasonable, >20 rich. Good for comparing across leverage profiles.
  • EV/Sales — like P/S but accounts for debt + cash. Compare within sector.
Profitability & Yields
  • ROE — return on equity. >15% strong, >25% exceptional. Caution: high leverage inflates ROE.
  • ROA — return on assets. Leverage-neutral; >5% solid, >10% exceptional.
  • Div Yield — annual dividend / price. Compare to 10Y Treasury; sustained yield >6% often signals distress.
  • FCF Yield — free cash flow / market cap. >5% is attractive; negative means burning cash.
Balance Sheet
  • Debt/Equity — leverage. <1 conservative, >2 aggressive. Sector-dependent (utilities naturally high, tech low).
  • Current Ratio — short-term liquidity. >1.5 comfortable, <1 raises short-term solvency flags.
Reading the history chart
  • Compare current level to the 3-year band: near the high end = relatively expensive; near the low = relatively cheap.
  • Multiples expanding while earnings are flat = sentiment-driven rally.
  • Multiples compressing while earnings grow = value coming from fundamentals.
P/E
12.35
P/B
1.43
P/S
2.55
EV/EBITDA
9.65
EV/Sales
2.53
ROE
11.6%
ROA
1.1%
Div Yield
2.80%
FCF Yield
7.39%
Debt/Equity
0.06
Current Ratio
—
Market Cap
$628.19M
as of 2026-10-22
Short Interest & Float

Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.

Metric definitions
  • Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
  • SI % of Float — short interest / free float. The key crowding metric.
  • Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
  • Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
  • Free Float — shares available for public trading (total shares minus insider / restricted).
  • Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
  • SI % of Float < 5% — typical, no particular signal.
  • 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
  • 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
  • >30% — extreme; borrow is likely expensive and squeeze risk is material.
  • Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
  • Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
  • A sudden drop in SI after a rally may indicate a squeeze in progress.

Short interest is reported mid-month and end-of-month; short volume is daily.

Short Interest
663.80K
SI % of Float
3.68%
Days to Cover
6.87
Short Vol Ratio
52.2%
Free Float
18.04M
Float %
97.4%
Short interest 2026-09-30 • Short volume 2026-10-21 • Float 2026-08-14