AROW vs CHMG

For growth investors, Arrow Financial Corporation (AROW) is the stronger pick with 8.

7% revenue growth year-over-year, versus -6. 5% for Chemung Financial Corporation (CHMG). Arrow Financial Corporation (AROW) offers the better valuation at 14. 0x trailing P/E (10. 0x forward), making it the more compelling value choice. Analysts rate Arrow Financial Corporation (AROW) a "Hold" — based on 1 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

On trailing P/E, Arrow Financial Corporation (AROW) is the cheapest at 14.

0x versus Chemung Financial Corporation at 21. 7x. On forward P/E, Chemung Financial Corporation is actually cheaper at 9. 5x — notably different from the trailing picture, reflecting expected earnings growth.

Over the past 5 years, Chemung Financial Corporation (CHMG) delivered a total return of +69.

3%, compared to +23. 2% for Arrow Financial Corporation (AROW). Over 10 years, the gap is even starker: CHMG returned +194. 7% versus AROW's +110. 9%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Chemung Financial Corporation (CHMG) is the lower-risk stock at 0.

72β versus Arrow Financial Corporation's 0. 75β — meaning AROW is approximately 5% more volatile than CHMG relative to the S&P 500. On balance sheet safety, Chemung Financial Corporation (CHMG) carries a lower debt/equity ratio of 2% versus 7% for Arrow Financial Corporation — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Arrow Financial Corporation (AROW) is pulling ahead at 8.

7% versus -6. 5% for Chemung Financial Corporation (CHMG). On earnings-per-share growth, the picture is similar: Arrow Financial Corporation grew EPS 49. 7% year-over-year, compared to -36. 9% for Chemung Financial Corporation. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

Arrow Financial Corporation (AROW) is the more profitable company, earning 18.

1% net margin versus 10. 8% for Chemung Financial Corporation — meaning it keeps 18. 1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: AROW leads at 22. 8% versus 14. 2% for CHMG. At the gross margin level — before operating expenses — AROW leads at 65. 3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

On forward earnings alone, Chemung Financial Corporation (CHMG) trades at 9.

5x forward P/E versus 10. 0x for Arrow Financial Corporation — 0. 5x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for AROW: -19. 2% to $30. 00.

All stocks in this comparison pay dividends.

Arrow Financial Corporation (AROW) offers the highest yield at 3. 1%, versus 1. 9% for Chemung Financial Corporation (CHMG).

For long-horizon retirement investors, Chemung Financial Corporation (CHMG) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.

72), 1. 9% yield, +194. 7% 10Y return). Both have compounded well over 10 years (CHMG: +194. 7%, AROW: +110. 9%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

In terms of investment character: AROW is a small-cap deep-value stock; CHMG is a small-cap quality compounder stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.