Arrow Financial Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

NasdaqGS:AROW Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Role	Shares	Max Price
31 Jan 25	BuyUS$99,880	Daniel White	Individual		3,668	US$27.23
10 May 24	SellUS$94,536	Raymond O'Conor	Individual		4,000	US$23.63

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

What is the ownership structure of AROW?
Owner Type	Number of Shares	Ownership Percentage
State or Government	6,911	0.0415%
Individual Insiders	498,979	2.99%
Private Companies	1,899,569	11.4%
Institutions	6,672,937	40%
General Public	7,592,288	45.5%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 46.7% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
11.4%	Arrow Bank National Association	1,899,569	US$47.7m	5,220%	no data
8.05%	BlackRock, Inc.	1,341,532	US$33.7m	-2.79%	no data
4.82%	The Vanguard Group, Inc.	803,269	US$20.2m	-1.47%	no data
4.42%	Dimensional Fund Advisors LP	736,569	US$18.5m	1.77%	no data
2.36%	State Street Global Advisors, Inc.	393,577	US$9.9m	-0.04%	no data
2.21%	Geode Capital Management, LLC	368,893	US$9.3m	-0.9%	no data
1.83%	American Century Investment Management Inc	304,964	US$7.7m	4.3%	no data
1.39%	Renaissance Technologies LLC	232,321	US$5.8m	-4.28%	0.01%
1.14%	Rhino Investment Partners, Inc.	190,092	US$4.8m	0%	1.17%
1.07%	Voya Investment Management LLC	178,680	US$4.5m	15.5%	0.01%
0.89%	Northern Trust Global Investments	148,921	US$3.7m	1.57%	no data
0.76%	Charles Schwab Investment Management, Inc.	126,779	US$3.2m	0%	no data
0.76%	Eaton Vance Management	125,949	US$3.2m	0%	no data
0.72%	Hotchkis and Wiley Capital Management, LLC	119,830	US$3.0m	1.01%	0.01%
0.7%	Rockefeller & Co. LLC	117,355	US$2.9m	0.42%	0.01%
0.63%	Morgan Stanley, Investment Banking and Brokerage Investments	104,218	US$2.6m	-2.3%	no data
0.53%	Franklin Resources, Inc.	88,387	US$2.2m	-20.9%	no data
0.47%	Connor, Clark & Lunn Investment Management Ltd.	78,548	US$2.0m	42.7%	0.01%
0.42%	Thomas Murphy	69,205	US$1.7m	0%	no data
0.39%	Gary Dake	64,635	US$1.6m	5.53%	no data
0.35%	Johnson Investment Counsel, Inc.	59,102	US$1.5m	48.1%	0.01%
0.35%	Alaska Permanent Fund	58,547	US$1.5m	0%	no data
0.35%	David Kruczlnicki	58,532	US$1.5m	2.73%	no data
0.35%	Teachers Insurance and Annuity Association-College Retirement Equities Fund	57,666	US$1.4m	0%	no data
0.34%	Trust Company of Vermont	57,365	US$1.4m	0%	0.07%

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/05/06 22:40
End of Day Share Price	2025/05/06 00:00
Earnings	2025/03/31
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Arrow Financial Corporation is covered by 5 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Nicholas Cucharale	Hovde Group, LLC
Feddie Strickland	Hovde Group, LLC
Frank Schiraldi	Piper Sandler Companies