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	Shares	Max Price
10 May 24	SellUS$94,536	Raymond O'Conor	Individual	4,000	US$23.63
07 Feb 24	BuyUS$47,460	Gary Dake	Individual	2,000	US$23.73
06 Feb 24	BuyUS$23,570	Andrew Wise	Individual	1,000	US$23.57

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
Private Companies	35,712	0.213%
Individual Insiders	472,384	2.82%
General Public	7,877,630	47.1%
Institutions	8,353,254	49.9%

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

Top Shareholders

Top 25 shareholders own 46% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
11.6%	North Country Investment Advisers, Inc.	1,934,081	US$55.7m	-15%	5.16%
8.06%	BlackRock, Inc.	1,348,624	US$38.9m	4.34%	no data
4.87%	The Vanguard Group, Inc.	815,270	US$23.5m	-3.39%	no data
4.32%	Dimensional Fund Advisors LP	723,771	US$20.9m	3.36%	no data
2.35%	State Street Global Advisors, Inc.	393,719	US$11.3m	0.26%	no data
2.22%	Geode Capital Management, LLC	372,228	US$10.7m	-4.42%	no data
1.75%	American Century Investment Management Inc	292,383	US$8.4m	9.65%	no data
1.45%	Renaissance Technologies LLC	242,721	US$7.0m	-3.65%	0.01%
0.92%	Voya Investment Management LLC	154,644	US$4.5m	-10.6%	no data
0.88%	Northern Trust Global Investments	146,625	US$4.2m	2.86%	no data
0.79%	Eaton Vance Management	132,893	US$3.8m	-1.37%	no data
0.75%	Charles Schwab Investment Management, Inc.	125,993	US$3.6m	-5.99%	no data
0.71%	Hotchkis and Wiley Capital Management, LLC	118,630	US$3.4m	0.94%	0.01%
0.7%	Rockefeller & Co. LLC	116,867	US$3.4m	0.39%	0.01%
0.69%	BNY Asset Management	115,325	US$3.3m	-10.8%	no data
0.67%	Franklin Resources, Inc.	111,750	US$3.2m	-11.4%	no data
0.64%	Morgan Stanley, Investment Banking and Brokerage Investments	106,671	US$3.1m	283%	no data
0.41%	Thomas Murphy	69,205	US$2.0m	0%	no data
0.37%	Gary Dake	61,247	US$1.8m	2.06%	no data
0.36%	First Trust Advisors LP	60,655	US$1.7m	625%	no data
0.34%	Teachers Insurance and Annuity Association-College Retirement Equities Fund	57,666	US$1.7m	0%	no data
0.34%	David Kruczlnicki	56,977	US$1.6m	0.64%	no data
0.33%	Connor, Clark & Lunn Investment Management Ltd.	55,050	US$1.6m	136%	0.01%
0.28%	Bridgeway Capital Management, LLC	46,310	US$1.3m	-19.4%	0.02%
0.25%	Elizabeth Miller	41,145	US$1.2m	1.87%	no data

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/26 23:42
End of Day Share Price	2024/12/26 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

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 here.

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 .

Analyst Sources

Arrow Financial Corporation is covered by 6 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
Alexander Roberts Twerdahl	Piper Sandler Companies