Piper Sandler Has Lowered Expectations for Alerus Financial (NASDAQ:ALRS) Stock Price

Alerus Financial (NASDAQ:ALRS) had its target price reduced by equities research analysts at Piper Sandler from $24.00 to $23.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective points to a potential upside of 14.31% from the stock’s previous close.

ALRS has been the subject of a number of other research reports. DA Davidson upped their price target on Alerus Financial from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Raymond James upgraded Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price target for the company in a research report on Tuesday, September 17th. Finally, Keefe, Bruyette & Woods upped their price target 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. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $23.20.

Alerus Financial Stock Down 0.5 %

Alerus Financial stock opened at $20.12 on Thursday. The stock has a market cap of $397.97 million, a PE ratio of 125.76 and a beta of 0.66. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.86. Alerus Financial has a one year low of $17.35 and a one year high of $25.85. The stock has a fifty day moving average of $22.37 and a 200 day moving average of $20.91.

Alerus Financial (NASDAQ:ALRS) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.18). The company had revenue of $80.58 million during the quarter, compared to analysts’ expectations of $52.30 million. Alerus Financial had a return on equity of 6.08% and a net margin of 1.01%. During the same quarter in the previous year, the company earned $0.45 EPS. As a group, sell-side analysts predict that Alerus Financial will post 1.21 EPS for the current year.

Hedge Funds Weigh In On Alerus Financial

A number of hedge funds have recently made changes to their positions in the business. Sippican Capital Advisors boosted its stake in shares of Alerus Financial by 4.8% in the third quarter. Sippican Capital Advisors now owns 80,525 shares of the company’s stock worth $1,842,000 after acquiring an additional 3,665 shares during the period. Inspire Investing LLC bought a new position in Alerus Financial during the third quarter valued at approximately $417,000. SG Americas Securities LLC bought a new position in Alerus Financial during the third quarter valued at approximately $142,000. Endeavour Capital Advisors Inc. boosted its stake in 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 buying an additional 73,342 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its stake in Alerus Financial by 191.1% during the second quarter. Squarepoint Ops LLC now owns 46,839 shares of the company’s stock valued at $919,000 after buying an additional 30,750 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.