Alerus Financial Co. (NASDAQ:ALRS) Receives $23.40 Average PT from Analysts

Shares of Alerus Financial Co. (NASDAQ:ALRS) have been given a consensus rating of “Hold” by the five brokerages that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $23.40.

A number of research firms have recently weighed in on ALRS. Keefe, Bruyette & Woods raised their price objective on Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. DA Davidson raised their target price on Alerus Financial from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Piper Sandler raised their target price on Alerus Financial from $22.50 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Finally, Raymond James upgraded Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 target price for the company in a research note on Tuesday, September 17th.

Hedge Funds Weigh In On Alerus Financial

A number of institutional investors have recently modified their holdings of ALRS. Federated Hermes Inc. raised its stake in shares of Alerus Financial by 380.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,519 shares of the company’s stock valued at $30,000 after buying an additional 1,203 shares during the last quarter. ICA Group Wealth Management LLC purchased a new position in shares of Alerus Financial during the 4th quarter valued at about $81,000. SG Americas Securities LLC purchased a new position in shares of Alerus Financial in the 3rd quarter valued at about $142,000. Bailard Inc. purchased a new position in shares of Alerus Financial in the 2nd quarter valued at about $265,000. Finally, Inspire Investing LLC purchased a new position in shares of Alerus Financial in the 3rd quarter valued at about $417,000. Hedge funds and other institutional investors own 51.25% of the company’s stock.

Alerus Financial Stock Up 1.3 %

Alerus Financial stock opened at $23.53 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a market capitalization of $465.35 million, a price-to-earnings ratio of 48.02 and a beta of 0.66. Alerus Financial has a 1-year low of $16.80 and a 1-year high of $25.85. The business has a fifty day moving average price of $21.87 and a 200-day moving average price of $20.68.

Alerus Financial (NASDAQ:ALRS) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.06). The business had revenue of $80.39 million during the quarter, compared to analyst estimates of $49.20 million. Alerus Financial had a return on equity of 7.25% and a net margin of 2.39%. During the same period in the previous year, the business earned $0.45 EPS. Equities research analysts forecast that Alerus Financial will post 1.21 EPS for the current fiscal year.

Alerus Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 13th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.40%. Alerus Financial’s payout ratio is currently 163.27%.

Alerus Financial Company Profile

Alerus Financial Corporation operates as the bank holding company for Alerus Financial, National Association that engages in the provision of various financial services to businesses and consumers. The company operates in four segments: Banking, Mortgage, Retirement and Benefit Services, and Wealth Management.