Analysts Set Alerus Financial Co. (NASDAQ:ALRS) Target Price at $23.20

Shares of Alerus Financial Co. (NASDAQ:ALRS) have been assigned an average recommendation of “Hold” from the five analysts that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $23.20.

Several research firms have recently issued reports on ALRS. Piper Sandler reduced their price target on Alerus Financial from $24.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Keefe, Bruyette & Woods increased their target price on Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, Raymond James upgraded Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 target price for the company in a research report on Tuesday, September 17th.

Alerus Financial Price Performance

Shares of Alerus Financial stock opened at $19.22 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. The stock has a market cap of $487.00 million, a PE ratio of 120.13 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’s 50-day moving average price is $21.74 and its two-hundred day moving average price is $21.40.

Alerus Financial (NASDAQ:ALRS) last announced its 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 return on equity of 6.02% and a net margin of 1.01%. The firm had revenue of $80.58 million for the quarter, compared to analyst estimates of $52.30 million. During the same quarter last year, the business earned $0.45 EPS. As a group, sell-side analysts anticipate that Alerus Financial will post 0.97 EPS for the current fiscal year.

Alerus Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date is Friday, December 27th. Alerus Financial’s dividend payout ratio is currently 500.00%.

Institutional Investors Weigh In On Alerus Financial

A number of large investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. lifted its holdings in shares of Alerus Financial by 380.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,519 shares of the company’s stock worth $30,000 after acquiring an additional 1,203 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Alerus Financial in the 3rd quarter valued at $142,000. Harbor Advisors LLC bought a new position in shares of Alerus Financial in the 3rd quarter valued at $226,000. Inspire Investing LLC acquired a new stake in Alerus Financial in the third quarter valued at about $417,000. Finally, Walleye Capital LLC bought a new position in Alerus Financial in the third quarter valued at about $424,000. Institutional investors and hedge funds 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.