Brokerages Set Alerus Financial Co. (NASDAQ:ALRS) PT at $23.20

Shares of Alerus Financial Co. (NASDAQ:ALRS) have earned an average recommendation of “Hold” from the five research firms that are covering the firm, 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 target among brokerages that have issued a report on the stock in the last year is $23.20.

Several research analysts have issued reports on ALRS shares. Raymond James upgraded Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a research report on Tuesday, September 17th. Piper Sandler decreased their price target on Alerus Financial from $24.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st.

Alerus Financial Stock Performance

Shares of Alerus Financial stock opened at $21.80 on Friday. The firm has a market capitalization of $552.41 million, a P/E ratio of 136.26 and a beta of 0.69. Alerus Financial has a 52 week low of $18.09 and a 52 week high of $25.85. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15. The firm’s 50 day moving average is $22.43 and its two-hundred day moving average is $21.18.

Alerus Financial (NASDAQ:ALRS) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.18). The company had revenue of $80.58 million for the quarter, compared to analyst estimates of $52.30 million. Alerus Financial had a return on equity of 6.02% and a net margin of 1.01%. During the same period in the prior year, the business earned $0.45 earnings per share. Research analysts forecast that Alerus Financial will post 0.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Alerus Financial

Several hedge funds and other institutional investors have recently modified their holdings of ALRS. Federated Hermes Inc. lifted its stake in shares of Alerus Financial by 380.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,519 shares of the company’s stock valued at $30,000 after purchasing an additional 1,203 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Alerus Financial in the 3rd quarter valued at about $142,000. Harbor Advisors LLC acquired a new position in shares of Alerus Financial in the 3rd quarter valued at about $226,000. Bailard Inc. acquired a new position in shares of Alerus Financial in the 2nd quarter valued at about $265,000. Finally, Inspire Investing LLC acquired a new position in Alerus Financial during the 3rd quarter worth approximately $417,000. 51.25% of the stock is owned by institutional investors and hedge funds.

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.