DA Davidson Expects Reduced Earnings for Alerus Financial

Alerus Financial Co. (NASDAQ:ALRS) – Equities research analysts at DA Davidson reduced their FY2024 earnings per share estimates for Alerus Financial in a report issued on Thursday, October 31st. DA Davidson analyst J. Rulis now expects that the company will post earnings per share of $0.93 for the year, down from their previous estimate of $1.20. DA Davidson currently has a “Neutral” rating and a $23.00 target price on the stock. The consensus estimate for Alerus Financial’s current full-year earnings is $1.14 per share. DA Davidson also issued estimates for Alerus Financial’s FY2025 earnings at $1.90 EPS.

Other analysts also recently issued reports about the company. Keefe, Bruyette & Woods lifted their price objective on Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Raymond James upgraded Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a report on Tuesday, September 17th. Finally, Piper Sandler decreased their price objective on Alerus Financial from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Alerus Financial has an average rating of “Hold” and a consensus target price of $23.20.

Alerus Financial Stock Performance

ALRS stock opened at $20.08 on Monday. 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 business has a 50-day moving average price of $22.37 and a 200 day moving average price of $20.92. The company has a market capitalization of $397.18 million, a P/E ratio of 125.51 and a beta of 0.68. Alerus Financial has a 1-year low of $17.35 and a 1-year high of $25.85.

Alerus Financial (NASDAQ:ALRS) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.18). The firm had revenue of $80.58 million during the quarter, compared to the consensus estimate of $52.30 million. Alerus Financial had a net margin of 1.01% and a return on equity of 6.08%. During the same quarter in the previous year, the firm earned $0.45 earnings per share.

Hedge Funds Weigh In On Alerus Financial

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Alerus Financial by 1.5% during the first quarter. Vanguard Group Inc. now owns 911,806 shares of the company’s stock valued at $19,905,000 after acquiring an additional 13,637 shares in the last quarter. Endeavour Capital Advisors Inc. increased its holdings in shares of Alerus Financial by 34.0% during the second quarter. Endeavour Capital Advisors Inc. now owns 288,876 shares of the company’s stock valued at $5,665,000 after acquiring an additional 73,342 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Alerus Financial by 2.7% during the second quarter. Dimensional Fund Advisors LP now owns 274,615 shares of the company’s stock valued at $5,384,000 after acquiring an additional 7,300 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Alerus Financial by 4.5% during the second quarter. Bank of New York Mellon Corp now owns 123,512 shares of the company’s stock valued at $2,422,000 after acquiring an additional 5,323 shares in the last quarter. Finally, Sippican Capital Advisors increased its holdings in shares of Alerus Financial by 4.8% during the third quarter. Sippican Capital Advisors now owns 80,525 shares of the company’s stock valued at $1,842,000 after acquiring an additional 3,665 shares in the last quarter. Institutional investors and hedge funds own 51.25% of the company’s stock.

Alerus Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 13th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.98%. Alerus Financial’s dividend payout ratio (DPR) is currently 500.03%.

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.