Arrow Financial (AROW) vs Independent Bank (IBCP)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
Arrow Financial (AROW) has outperformed Independent Bank (IBCP) over the past year, gaining 35.6% versus a gain of 14.8%. Over five years, IBCP leads with a +63.0% price change compared with +6.2% for AROW. Independent Bank is the larger company by market cap ($736.7 million vs $685.9 million), about 1.1 times the size.
On valuation, Arrow Financial trades at a lower forward P/E (8.6x vs 9.2x for Independent Bank). Arrow Financial offers the higher dividend yield (3.19% vs 3.02%).
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | AROW | IBCP |
|---|---|---|
| Share price | $37.03 | $35.76 |
| Market cap | $685.93M | $736.75M |
| 1-day change | +1.17% | +0.59% |
| YTD return | +17.93% | +9.93% |
| 1-year return | +35.59% | +14.80% |
| 5-year return | +6.24% | +62.99% |
| P/E ratio (TTM) | 11.95 | 10.37 |
| Forward P/E | 8.60 | 9.22 |
| EPS (TTM) | $3.10 | $3.45 |
| Dividend yield | 3.19% | 3.02% |
| Annual dividend | $1.18 | $1.08 |
| 52-week high | $42.70 | $39.24 |
| 52-week low | $25.88 | $29.83 |
| Distance from 52-week high | -13.28% | -8.87% |
| Analyst consensus | none | buy |
| Avg. price target upside | +17.47% | +12.42% |
| Average volume | 87.24K | 195.82K |
| Shares outstanding | 18.52M | 20.60M |
| Employees | 575 | 735 |
| Sector | Finance | Financial Services |
| Industry | Major Banks | Banks - Regional |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- AROW has outperformed IBCP by 20.8 percentage points over the past year.
- The two companies sit in different sectors: Arrow Financial in Finance and Independent Bank in Financial Services.
About Arrow Financial
AROW stock →Arrow Financial Corporation, a bank holding company, provides various commercial and consumer banking, and financial products and services in the United States. The company's deposit products include demand deposits, interest-bearing checking accounts, savings deposits, time deposits, and other time deposits.
Finance · Major Banks · 575 employees
About Independent Bank
IBCP stock →Independent Bank Corporation operates as the bank holding company for Independent Bank that provides banking services in the United States. The company offers demand deposits, interest checking, money market accounts, savings accounts, and time certificates of deposit, including free checking accounts.
Financial Services · Banks - Regional · 735 employees
AROW vs IBCP FAQ
Which is bigger, Arrow Financial or Independent Bank?
Independent Bank (IBCP) is larger, with a market capitalization of $736.75M compared with $685.93M for Arrow Financial (AROW).
Which stock has performed better over the past year, AROW or IBCP?
AROW returned +35.59% over the past 12 months, compared with +14.80% for IBCP (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, AROW or IBCP?
IBCP has the lower trailing P/E at 10.4, versus 11.9 for AROW. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Arrow Financial or Independent Bank?
Arrow Financial has the higher yield at 3.19%, compared with 3.02% for Independent Bank.
Are Arrow Financial and Independent Bank in the same industry?
No. Arrow Financial is in the Finance sector, while Independent Bank is in Financial Services.