ARROW FINANCIAL CORP (AROW)

National Commercial Banks

Latest Price

$39.94

TTM P/E

12.93

Normalized P/E

16.70

Div Yield

2.90%

Book Value

26.87

P/B Ratio

1.49

Valuation metrics

EPS: $2.65

Target P/E: 17×

Formula: EPS × P/E

P/E Fair Value

$45.05

+13% upside

52.6% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
Arrow Financial Corp	1.88M	$63.0M	11.37%	+7.1K	2026-03-31
BlackRock, Inc.	1.25M	$42.0M	7.57%	+171	2026-03-31
DIMENSIONAL FUND ADVISORS LP	730.5K	$24.0M	4.42%	+1.9K	2026-03-31
VANGUARD CAPITAL MANAGEMENT LLC	637.5K	$21.0M	3.86%	--	2026-03-31
GEODE CAPITAL MANAGEMENT, LLC	370.8K	$12.0M	2.24%	+7.1K	2026-03-31
AMERICAN CENTURY COMPANIES INC	343.3K	$11.0M	2.08%	+20.3K	2026-03-31
STATE STREET CORP	338.2K	$11.0M	2.05%	-30.9K	2026-03-31
RENAISSANCE TECHNOLOGIES LLC	230.3K	$7.0M	1.39%	-21.9K	2026-03-31
HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC	186.2K	$6.0M	1.13%	+69.3K	2026-03-31
MORGAN STANLEY	177.8K	$5.0M	1.08%	-10.1K	2026-03-31