Alerus Financial Co. (NASDAQ:ALRS) Receives $23.40 Consensus Price Target from Brokerages

Alerus Financial Co. (NASDAQ:ALRS) has been given a consensus rating of “Hold” by the five ratings firms that are presently covering the company, Marketbeat Ratings 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 1 year price objective among brokerages that have covered the stock in the last year is $23.40.

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods lifted their target price on Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. DA Davidson reaffirmed a “neutral” rating and set a $23.00 target price on shares of Alerus Financial in a report on Thursday, January 30th. Piper Sandler lifted their target price on Alerus Financial from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, Raymond James reaffirmed an “outperform” rating and set a $24.00 target price (up previously from $22.00) on shares of Alerus Financial in a report on Thursday, January 30th.

Alerus Financial Trading Down 1.3 %

Shares of ALRS opened at $18.23 on Tuesday. The business has a 50-day moving average of $20.23 and a 200 day moving average of $21.32. Alerus Financial has a fifty-two week low of $17.99 and a fifty-two week high of $24.41. The firm has a market cap of $461.91 million, a P/E ratio of 17.87 and a beta of 0.74. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.85 and a current ratio of 0.85.

Alerus Financial (NASDAQ:ALRS) last posted its earnings results on Tuesday, January 28th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.16. Alerus Financial had a return on equity of 7.66% and a net margin of 6.26%. As a group, research analysts forecast that Alerus Financial will post 2.14 EPS for the current year.

Alerus Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 14th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.39%. Alerus Financial’s dividend payout ratio (DPR) is presently 78.43%.

Institutional Trading of Alerus Financial

Hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its position in Alerus Financial by 457.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,277 shares of the company’s stock worth $25,000 after buying an additional 1,048 shares during the last quarter. Legal & General Group Plc lifted its position in Alerus Financial by 32.7% in the 4th quarter. Legal & General Group Plc now owns 2,025 shares of the company’s stock worth $39,000 after buying an additional 499 shares during the last quarter. Summit Investment Advisors Inc. lifted its position in Alerus Financial by 31.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,349 shares of the company’s stock worth $45,000 after buying an additional 568 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Alerus Financial in the 4th quarter worth approximately $56,000. Finally, New York State Common Retirement Fund lifted its position in Alerus Financial by 41.7% in the 4th quarter. New York State Common Retirement Fund now owns 6,451 shares of the company’s stock worth $124,000 after buying an additional 1,900 shares during the last quarter. Institutional investors own 51.25% of the company’s stock.

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.