Alerus Financial Co. (NASDAQ:ALRS) Given Consensus Rating of “Hold” by Brokerages

Alerus Financial Co. (NASDAQ:ALRS) has been given a consensus rating of “Hold” by the five research firms that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $23.20.

A number of brokerages recently issued reports on ALRS. Raymond James raised Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 target price on the stock in a research report on Tuesday, September 17th. Keefe, Bruyette & Woods boosted their price objective on shares of Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler decreased their target price on shares of Alerus Financial from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st.

Alerus Financial Stock Down 0.4 %

Alerus Financial stock opened at $19.70 on Thursday. The company has a 50 day moving average of $21.93 and a 200-day moving average of $21.39. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15. Alerus Financial has a twelve month low of $18.09 and a twelve month high of $25.85. The stock has a market capitalization of $499.16 million, a PE ratio of 123.13 and a beta of 0.69.

Alerus Financial (NASDAQ:ALRS) last released its earnings results on Tuesday, October 29th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.18). The firm had revenue of $80.58 million for the quarter, compared to the consensus estimate of $52.30 million. Alerus Financial had a return on equity of 6.02% and a net margin of 1.01%. During the same quarter last year, the company posted $0.45 EPS. On average, equities research analysts anticipate that Alerus Financial will post 0.97 EPS for the current fiscal year.

Alerus Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, December 27th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Friday, December 27th. Alerus Financial’s dividend payout ratio is currently 500.00%.

Institutional Investors Weigh In On Alerus Financial

A number of institutional investors and hedge funds have recently modified their holdings of the company. Stieven Capital Advisors L.P. bought a new stake in Alerus Financial in the third quarter valued at approximately $5,966,000. Squarepoint Ops LLC raised its stake in Alerus Financial by 191.1% in the 2nd quarter. Squarepoint Ops LLC now owns 46,839 shares of the company’s stock valued at $919,000 after acquiring an additional 30,750 shares during the period. Foundry Partners LLC acquired a new stake in Alerus Financial during the 3rd quarter valued at $530,000. Inspire Investing LLC acquired a new position in shares of Alerus Financial in the third quarter valued at $417,000. Finally, Endeavour Capital Advisors Inc. raised its position in shares of Alerus Financial by 34.0% in the second quarter. Endeavour Capital Advisors Inc. now owns 288,876 shares of the company’s stock valued at $5,665,000 after purchasing an additional 73,342 shares during the period. 51.25% of the stock is owned by institutional investors.

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.