Arrow Financial is conservative, slow-and-steady growth stock.
The company operates two regional banks and an insurance company in upstate New York.
The dividend is well covered by free cash flow, but the payout grows fairly slowly and the current yield is only 2.9%.
The dividend yield is lower than its historical average, and the stock is around fair value by price/sales and price/earnings.
The income investor more interested in capital preservation than growth is the ideal fit for this company's stock.
Initiation of Coverage
Arrow Financial (AROW) is a holding company that owns and operates two regional banks and an insurance company in upstate New York. The banks, Glens Falls National Bank and Saratoga