Arrow Financial Corporation (AROW) Stock Price & Analysis
Arrow Financial Corporation (AROW) closed at USD 38.03 on Wednesday, October 28, 2026, down 1.07% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 38.44; the Oct 28, 2026 session ranged USD 37.75–38.55 on volume of 64,497 shares. Market capitalization is $704.46M, with a 52-week range of USD 26.46–42.7 (NMS). Source: Nexqual, retrieved October 29, 2026 at 12:10 UTC.
Also available as compact Markdown for AI agents: nexqual.com/AROW.md
Key facts (AROW)
- Valuation: P/E 13.7x (avg 14.6x at the last 3 fiscal year-ends).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (4 analysts), mean target USD 43.5 (range 42–46).
- Next earnings: 2026-10-29, EPS estimate USD 0.94, revenue estimate $57.8M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (AROW)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $143M | $149M | $134M | — | — | — |
| Net income | $49.9M | $48.8M | $30.1M | $29.7M | $44.0M | $51.3M |
| EPS (diluted) | $2.92 | $2.86 | $1.77 | $1.77 | $2.65 | — |
| Free cash flow | $61.1M | $45.5M | $13.5M | $28.9M | $36.2M | $44.6M |
| Net margin | 34.9% | 32.7% | 22.5% | — | — | — |
| Revenue growth | +8.2% | +4.6% | -10.2% | — | — | — |
| Cash + short-term investments | $458M | $64.7M | $143M | $155M | $214M | — |
| Total debt | $45.0M | $82.6M | $33.0M | $17.2M | $8.5M | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (AROW)
P/E 13.7x · P/FCF 15.8x · P/B 1.6x · FCF yield 6.34% · Earnings yield 7.28% · Buyback yield (TTM) 0.29%
P/E at fiscal year-ends: Dec 2025 11.8x, Dec 2024 16.2x, Dec 2023 15.8x.
Analysts (AROW)
Consensus Buy (mean 2.00 on a 1–5 scale), 4 analysts; mean target USD 43.5 (low 42, high 46).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-02 | Raymond James | Initiated | Outperform | $44 |
| 2026-07-28 | Piper Sandler | Target raised | Overweight | $43 → $46 |
AROW earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | $0.71 | $0.85 | Miss −16.5% | — |
| — | Quarter ended Mar 31, 2026 | $0.82 | $0.79 | Beat +3.8% | — |
| — | Quarter ended Dec 31, 2025 | $0.85 | $0.80 | Beat +6.3% | — |
| — | Quarter ended Sep 30, 2025 | $0.81 | $0.72 | Beat +12.5% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).
AROW recent SEC filings (last 120 days)
| Filed | Form | What it says |
|---|---|---|
| Oct 29, 2026 | 8-K | Quarterly results; Regulation FD disclosure; Other material event “On October 28, 2026 , the Board of Directors (the "Board") of the Company declared a quarterly cash dividend of $0.30 per share payable November 23, 2026 to shareholders of record on November 11, 2026.” |
| Sep 14, 2026 | 8-K/A | Current report |
| Sep 10, 2026 | 8-K | Other material event “On September 10, 2026 , Arrow Financial Corporation, a New York corporation ("Arrow") announced via press release that Upstate Agency, LLC, a subsidiary of Arrow Bank National Association, has entered into a definitive agreement to acquire Skene Valley Agency, Inc., an independent insurance agency in Washington County, New York. The full press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.” |
| Aug 6, 2026 | 10-Q | Quarterly report · period ended Jun 30, 2026 |
| Jul 23, 2026 | 8-K | Quarterly results; Regulation FD disclosure; Other material event “On July 22, 2026 , the Board of Directors (the "Board") of the Company declared a quarterly cash dividend of $0.30 per share payable August 25, 2026 to shareholders of record on August 11, 2026.” |
| Jul 1, 2026 | 8-K | Completed an acquisition or sale of assets; Director or executive officer change, or pay arrangement; Regulation FD disclosure “On July 1, 2026, Arrow Financial Corporation (the "Company") closed its previously announced acquisition of Adirondack Bancorp, Inc. ("Adirondack") and its banking subsidiary Adirondack Bank, which was merged with and into Arrow Bank pursuant to the terms of the Agreement and Plan of Merger (the "Agreement") dated February 25, 2026. The banking system conversion and integration is scheduled to be completed later in 2026 Merger Consideration Pursuant to the terms and subject to the conditions of the Agreement, each…” |
Source: SEC EDGAR. Quotes are the opening words of each item as filed; each form links to the filing. Insider Form 4 filings are listed in the insider sections.
AROW analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.94 | $0.97 | -3.9% | $57.8M | 4 |
| Next quarter (ends Dec 2026) | $1.00 | $1.06 | -4.9% | $59.6M | 4 |
| Current fiscal year (ends Dec 2026) | $3.51 | $3.73 | -5.9% | $206.3M | 4 |
| Next fiscal year (ends Dec 2027) | $4.31 | $4.33 | -0.6% | $240.1M | 4 |
Key Statistics (as of October 29, 2026 at 12:10 UTC)
| Price | USD 38.03 |
|---|---|
| Change | ▼ 1.07% (down) |
| Previous Close | USD 38.44 |
| Open | USD 38.55 |
| Day Range | USD 37.75 – 38.55 |
| 52-Week Range | USD 26.46 – 42.7 |
| Volume | 64,497 shares |
| Market Cap | $704.46M |
| Exchange | NMS |
Technical Analysis (AROW)
Nexqual's technical model rates AROW "STRONG BUY" based on 5 bullish and 0 bearish signals across 127 daily candles, as of October 29, 2026 at 12:10 UTC.
| Overall Signal | STRONG BUY |
|---|---|
| RSI (14) | 51.84 (neutral) |
| vs SMA50 | Above (USD 37.84) |
| MACD | 0.11 (positive) |
Analyst Ratings (AROW)
Wall Street analysts rate AROW "Buy" based on 4 analysts, with a mean price target of USD 43.5 (range USD 42–46), per Nexqual as of October 29, 2026 at 12:10 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 4 |
| Mean Target | USD 43.5 |
| High Target | USD 46 |
| Low Target | USD 42 |
| Buy / Hold / Sell | 2 / 2 / 0 |
Earnings (AROW)
| Next Earnings Date | 2026-10-29 |
|---|---|
| EPS Estimate | USD 0.94 |
| Revenue Estimate | $57.82M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.71 vs est 0.85 ▼ miss |
| 2026-03-31 | USD 0.82 vs est 0.79 ▲ beat |
| 2025-12-31 | USD 0.85 vs est 0.8 ▲ beat |
| 2025-09-30 | USD 0.81 vs est 0.72 ▲ beat |
Source: Nexqual, October 29, 2026 at 12:10 UTC.
Financials & Fundamentals (AROW)
| Total Revenue | $170.17M |
|---|---|
| Revenue Growth (latest quarter, YoY) | +4.60% |
| Gross Margin | +0.00% |
| Operating Margin | +34.66% |
| Profit Margin | +30.14% |
| ROE | +12.00% |
| Total Cash | $196.81M |
| Total Debt | $338.57M |
Source: Nexqual, October 29, 2026 at 12:10 UTC.
Financial Health Score (AROW)
Nexqual rates Arrow Financial Corporation's overall financial health "Solid" across five dimensions, as of October 29, 2026 at 12:10 UTC.
| Growth | Strong — Revenue +15% YoY (annual) |
|---|---|
| Profitability | Strong — Net margin 27% (last 12 months); banks have no gross margin |
| Balance Sheet | N/A — Not comparable for banks: deposits and customer funds sit on the balance sheet, so cash vs debt does not measure safety (SEC industry: National Commercial Banks) |
| Cash Flow | N/A — Not meaningful for banks and lenders: lending and trading move operating cash flow by billions each year (SEC industry: National Commercial Banks) |
| Efficiency | Mixed — ROE 11%, ROA 1.1% (last 4 quarters, SEC) |
Ownership (AROW)
| Insider Ownership | +2.96% |
|---|---|
| Institutional Ownership | +54.04% |
| Shares Outstanding | 18.52M |
| Float | 16.21M |
| Short % of Float | +3.49% |
Source: Nexqual, October 29, 2026 at 12:10 UTC.
Leadership (AROW)
Arrow Financial Corporation is led by David S. DeMarco, CEO, President & Director, per Nexqual as of October 29, 2026 at 12:10 UTC.
| CEO, President & Director | David S. DeMarco |
|---|---|
| Senior VP and Director of Marketing & Communications of Glen Falls | Annette Reitano |
| Senior VP & Director of Employee Total Rewards | Amy Merchant |
| Senior VP, Regional President of Mohawk Valley & Director | Rocco F. Arcuri |
| Senior VP and Director of Financial Planning Analysis & Treasury | Harry A. Kabalian |
Major Backers & Investors (AROW)
Notable institutional backers of Arrow Financial Corporation include Arrow Financial Corp, Rhino Investment Partners, Inc., American Century Companies Inc, according to Nexqual as of October 29, 2026 at 12:10 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Arrow Financial Corp | 9.9% |
| Rhino Investment Partners, Inc. | 4.58% |
| American Century Companies Inc | 2.34% |
| Acadian Asset Management. LLC | 1.86% |
| Morgan Stanley | 1.21% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 7.56% |
| Dimensional Fund Advisors | 3.92% |
| Vanguard Group | 3.37% |
| State Street | 2.65% |
| Geode Capital | 2.21% |
Source: Nexqual, October 29, 2026 at 12:10 UTC.
From Arrow Financial Corporation's Latest SEC 10-K Filing (filed 2026-03-06)
Legal & Regulatory Risks (Item 1A, quoted)
- Future statutory and regulatory changes, including additional guidance and interpretations of existing rules and requirements, are difficult to predict and could add to the existing regulatory burden imposed on banking organizations like Arrow Bank, resulting in a potential material adverse effect on Arrow's financial condition and results of operations.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| FITB | Fifth Third Bancorp | USD 53.47 | ▼ 0.22% |
| NU | Nu Holdings Ltd. | USD 11.97 | ▼ 3.47% |
| TFC | Truist Financial Corporation | USD 48.42 | ▼ 0.25% |
| DB | Deutsche Bank AG | USD 33.51 | ▲ 4.33% |
| NWG | NatWest Group plc | USD 17.23 | ▲ 2.13% |
| LYG | Lloyds Banking Group Plc | USD 5.5 | ▲ 1.85% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 29, 2026 at 12:10 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt