Piper Sandler Rates Arrow Financial (AROW) buy, $43 Price Target

On June 12, 2026, Piper Sandler analyst Manuel Navas raised the rating for Arrow Financial Corporation (AROW) on the NasdaqGS to buy. Along with the upgrade, Navas set a price target of $43.00 for the regional bank. This move suggests the firm sees room for the stock to climb from its current levels based on the company's recent performance and financial health.

Analysts Set New Price Targets

Piper Sandler isn't the only firm taking a closer look at the company lately. On September 2, 2026, Raymond James initiated coverage on the stock with an outperform rating and a $44.00 price target. Earlier in the summer, on July 28, 2026, Piper Sandler actually reiterated an overweight rating and boosted its target even higher to $46.00 from a previous $43.00. Keefe, Bruyette & Woods also weighed in on June 25, 2026, starting coverage with a market perform rating and a $42.00 target. Overall, the consensus among the four analysts covering the stock is a buy, with an average price target of $43.50.

Arrow Financial Stock Performance

As of this Saturday, the stock is trading at $38.88. This puts the share price well above its 200-day moving average of $36.14, though it is slightly under the 50-day average of $39.36. The stock has seen a wide range over the last year, hitting a low of $25.88 and a high of $42.70. With a price-to-earnings (P/E) ratio of 12.1 and a forward P/E of 8.7, the stock trades at a relatively modest multiple compared to its earnings power.

Recent Earnings and Growth

Arrow Financial has shown steady progress in its financial results. The company brought in $170.17 million in revenue, which represents a growth of 4.6%. It maintains a strong net margin of 30.14% and a return on equity of about 12%. These figures suggest the bank is managing its costs well while continuing to grow its top line. Investors are looking forward to the next earnings report, which is expected on October 29, 2026.

Dividend Stability

For those focused on income, Arrow Financial currently pays an annual dividend of $1.20 per share. This results in a dividend yield of 3.16% at current prices. The company has a payout ratio of 38.06%, meaning it uses a little over a third of its earnings to cover the dividend, leaving plenty of room for reinvestment in the business or future increases.

Regional Banking in New York

Arrow Financial serves as the parent company for Glens Falls National Bank and Trust Company and Saratoga National Bank and Trust Company. Based in Glens Falls, New York, the bank provides everything from basic checking and savings to complex commercial real estate loans and retirement planning. Its local focus in upstate New York has helped it maintain a consistent deposit base and a steady lending portfolio through various economic cycles.

What's Ahead for Arrow Financial Corporation

While analyst ratings and price targets offer a glimpse into what Wall Street expects, they are based on current data and can change as market conditions shift. Investors will be watching the October 29 earnings call to see if the bank can maintain its revenue growth and margin strength. As with all analyst reports, these ratings are opinions and not a guarantee of how the stock will perform in the future.