FY2024 EPS Estimate for Alerus Financial Lowered by Analyst

Alerus Financial Co. (NASDAQ:ALRS) – Analysts at DA Davidson decreased their FY2024 earnings per share estimates for shares of Alerus Financial in a report issued on Thursday, October 31st. DA Davidson analyst J. Rulis now expects that the company will post earnings of $0.93 per share for the year, down from their prior forecast of $1.20. DA Davidson has a “Neutral” rating and a $23.00 price objective 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.

Alerus Financial (NASDAQ:ALRS) last released its quarterly 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). Alerus Financial had a net margin of 1.01% and a return on equity of 6.08%. The business had revenue of $80.58 million for the quarter, compared to analysts’ expectations of $52.30 million. During the same period in the previous year, the company earned $0.45 EPS.

Several other brokerages have also recently weighed in on ALRS. Keefe, Bruyette & Woods boosted their price objective on Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Piper Sandler cut their target price on Alerus Financial from $24.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, 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. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $23.20.

Alerus Financial Stock Down 0.5 %

Shares of NASDAQ ALRS opened at $20.12 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. Alerus Financial has a 12-month low of $17.35 and a 12-month high of $25.85. The firm’s 50-day moving average price is $22.37 and its 200-day moving average price is $20.91. The stock has a market capitalization of $397.97 million, a price-to-earnings ratio of 125.76 and a beta of 0.68.

Alerus Financial Announces Dividend

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

Hedge Funds Weigh In On Alerus Financial

Several hedge funds have recently bought and sold shares of the business. Endeavour Capital Advisors Inc. boosted its stake 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 purchasing an additional 73,342 shares during the period. CWM LLC increased its position in shares of Alerus Financial by 85,625.0% during the second quarter. CWM LLC now owns 58,293 shares of the company’s stock worth $1,143,000 after acquiring an additional 58,225 shares during the period. Squarepoint Ops LLC raised its stake in shares of 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 acquiring an additional 30,750 shares in the last quarter. Cetera Advisors LLC bought a new stake in shares of Alerus Financial during the first quarter valued at approximately $638,000. Finally, Acadian Asset Management LLC boosted its holdings in shares of Alerus Financial by 4,147.8% in the first quarter. Acadian Asset Management LLC now owns 26,294 shares of the company’s stock valued at $573,000 after purchasing an additional 25,675 shares during the period. Institutional investors own 51.25% of the company’s stock.

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.