Analysts Set Alerus Financial Co. (NASDAQ:ALRS) Price Target at $23.25

Alerus Financial Co. (NASDAQ:ALRS) has earned an average rating of “Hold” from the five ratings firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $23.40.

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

Institutional Trading of Alerus Financial

Several institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. grew its position in Alerus Financial by 380.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,519 shares of the company’s stock worth $30,000 after purchasing an additional 1,203 shares in the last quarter. ICA Group Wealth Management LLC purchased a new stake in shares of Alerus Financial during the fourth quarter valued at approximately $81,000. Bailard Inc. bought a new stake in Alerus Financial during the second quarter worth $265,000. Acadian Asset Management LLC boosted its position in Alerus Financial by 4,147.8% in the first quarter. Acadian Asset Management LLC now owns 26,294 shares of the company’s stock worth $573,000 after purchasing an additional 25,675 shares during the last quarter. Finally, Cetera Advisors LLC bought a new position in Alerus Financial in the 1st quarter valued at $638,000. Institutional investors own 51.25% of the company’s stock.

Alerus Financial Stock Up 1.7 %

NASDAQ:ALRS opened at $22.83 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.86 and a quick ratio of 0.85. Alerus Financial has a one year low of $16.80 and a one year high of $25.85. The firm’s 50 day simple moving average is $21.57 and its 200 day simple moving average is $20.60. The company has a market cap of $451.51 million, a PE ratio of 46.65 and a beta of 0.66.

Alerus Financial (NASDAQ:ALRS) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.06). The business had revenue of $80.39 million during the quarter, compared to the consensus estimate 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 prior year, the firm earned $0.45 EPS. On average, research analysts anticipate that Alerus Financial will post 1.23 earnings per share for the current year.

Alerus Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 13th will be paid a $0.20 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.80 dividend on an annualized basis and a yield of 3.50%. Alerus Financial’s dividend payout ratio (DPR) is presently 163.27%.

About Alerus Financial

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.