Arrow Financial Corporation (AROW) — RQD Stock Rating Cockpit

Per the Roarable RQD rating, AROW scores 64 out of 100, graded C, with the verdict "Roarable Hold — Fair / Balanced Risk-Reward." The five pillars are:

• Fundamental Cash Engine: 11 / 20. Per the RQD pillar, this reflects ROIC of 10.2% and an FCF yield of 5.05%. Both are reported in the market data. The pillar sits below midpoint, indicating that cash generation is present but not outstanding relative to the scoring framework.
• Whale 13F Flow: 12 / 20. The pillar is labeled "Institutional accumulation & options positioning." No underlying 13F holdings or options detail is provided in the holders section, so the score cannot be traced to specific positions.
• Insider Conviction: 15 / 20. The pillar is labeled "SEC Form 4 & Congressional PTR cluster flow." The highest-scoring pillar, but the underlying transaction records are not included in the source data.
• Macro Regime Fit: 13 / 20. Per the RQD pillar, beta is 1.0 and the score reflects sector sensitivity. A beta of 1.0 implies market-level sensitivity to broad moves.
• Forensic Balance Sheet: 13 / 20. Per the RQD pillar, the Altman Z-Score is 2.5, the Piotroski F-Score is 4/9, and Debt/Equity is 0.5. These figures are mid-range on the scoring scale.

For a prospective investor, the composite reads as balanced rather than compelling. Strength is concentrated in insider flow, while cash-engine and forensic scores are moderate. The valuation inputs (P/E TTM 16.3, forward P/E 15.2) and the 5.05% FCF yield frame the tradeoff: the stock is not priced at an extreme on the available metrics, but the source data does not establish a clear margin of safety or a distinct upside catalyst beyond the scored pillars. This is an educational summary of the rating, not personalized advice.

Arrow Financial Corporation (AROW) is a NASDAQ-listed issuer in the Financials sector, Major Banks industry, per the company profile. The profile identifies the company as a banking-sector business with a market capitalization of $0.7B. Product lines, customer segments, and revenue mix are not available in source data.

Per the SEC financials, reported net income rose from $30.1M (FY 2023) to $29.7M (FY 2024) and then to $44.0M (FY 2025), with FCF moving from $20.6M to $28.9M to $36.2M over the same periods. Revenue and operating income are reported as $0.0M, so margin analysis cannot be performed from the filings. Per the market data, gross, operating, and net margins are each listed as 0%, which should be treated as non-informative given the zero-reported revenue line. Per the market data, ROIC is 10.2%. Per the Roarable RQD pillar, the Altman Z-Score is 2.5 and the Piotroski F-Score is 4/9, both in the mid-range; balance-sheet cash and debt amounts are not available in source data beyond Debt/Equity of 0.5.

Per the recent news feed, six items are tagged to AROW, each with a YELLOW signal light and "MARKET WIRE" impact label:

• A Yahoo! Finance Canada stock-quote and news page on AROW (1h ago).
• A TradingView estimates page for AROW (3h ago).
• A Yahoo Finance Q3 earnings snapshot (6h ago).
• A Kalkine report stating that Arrow Financial completed its Adirondack Bancorp acquisition and posted core EPS of $0.97 (9h ago).
• A MarketScreener report that the company declared a quarterly cash dividend payable on November 23, 2026 (12h ago).
• A Stock Titan report that about $15.6 million in merger costs exceeded Arrow Financial's profit, with the deal adding about $900 million in deposits (15h ago).

Per the news feed, the acquisition and its associated merger costs are the most material operational catalyst. The merger-cost figure and the deposit addition are both reported as relevant to near-term earnings interpretation. The butterfly supply-chain graph reports no supply-chain links and no proprietary signals, so no additional signal overlay is available.

Per the Butterfly Supply-Chain Graph, supply chain is listed as NONE, with no butterfly links and no proprietary signals. Upstream and downstream dependencies, sector correlations, and second-order bottlenecks are therefore not available in source data. The only sector-level information is the classification itself (Financials / Major Banks) and beta of 1.0. Investors should note that the absence of mapped links means ripple effects cannot be traced from this dataset.

• What are the reported revenue and operating income figures? The filings list $0.0M for both, so margins and operating leverage cannot be assessed.
• What are the cash and total debt balances behind the 0.5 Debt/Equity ratio?
• What were the specific terms and integration timeline of the Adirondack Bancorp acquisition, and how much of the $15.6 million in merger costs is expected to be non-recurring?
• What do the insider Form 4 and Congressional PTR transactions behind the 15 / 20 insider pillar actually consist of, and who executed them?
• What is the analyst consensus and price-target distribution, given that analyst data is not provided?