Arrow Financial

AROW · NASDAQ

$37.49+$0.65 (+1.76%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $36.84

AROW analyst rating

BuyConsensus of 3 analysts over the last 12 months. 67% rate it a buy.

Strong buy0
Buy2
Hold1
Underperform0
Sell0

12-month price target · 6 analysts

Average $43.35 (+15.6% upside)

Low: $38.38
Now: $37.49
High: $48.30

Upgrades and downgrades

The latest rating actions, newest first

AROW analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Raymond James	Sep 2, 2026	Initiates	Outperform	$44.00	39%
Piper Sandler	Jul 28, 2026	Maintains	Overweight	$43.00 → $46.00	46%
Keefe, Bruyette & Woods	Jun 25, 2026	Initiates	Market Perform	$42.00	64%
Piper Sandler	Jun 12, 2026	Initiates	Neutral → Overweight	$43.00	46%

The case for and against

Updated Oct 23, 2025

Bull case

Arrow Financial Corp has experienced a 3.7% increase in total deposits, reflecting a seasonal uptick that enhances liquidity and supports ongoing lending activities. The company's net interest margin (NIM) has improved by 23 basis points to 3.08%, largely attributed to strategic restructuring and anticipated rate adjustments, signaling effective management of interest income. Additionally, while non-performing charge-offs (NCOs) saw a marginal increase, non-performing assets (NPAs) decreased by 6 basis points to 44 basis points of total assets, indicating a strengthening asset quality and effective risk management practices.

Bear case

Arrow Financial Corp faces challenges due to a modest decline of approximately 1% in non-interest bearing deposits, which still constitute roughly 18% of total deposits, suggesting a potential weakening in customer confidence. Additionally, core fees have seen a notable decrease, declining 6% quarter-over-quarter (LQ) and 4% year-over-year (Y/Y), resulting in a $0.03 shortfall relative to expectations. Furthermore, a seasonal expectation indicates a decrease in deposit balances in the next quarter, which may further exacerbate liquidity concerns and overall financial performance.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.