Alerus Financial Co. (NASDAQ:ALRS) Receives $23.40 Average Target Price from Brokerages

Alerus Financial Co. (NASDAQ:ALRS) has earned an average recommendation of “Hold” from the five brokerages that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $23.40.

A number of brokerages recently issued reports on ALRS. Raymond James reiterated an “outperform” rating and issued a $24.00 target price (up from $22.00) on shares of Alerus Financial in a report on Thursday, January 30th. DA Davidson reiterated a “neutral” rating and issued a $23.00 target price on shares of Alerus Financial in a report on Thursday, January 30th. Piper Sandler increased their target price on Alerus Financial from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods increased their target price on Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

Hedge Funds Weigh In On Alerus Financial

Several large investors have recently bought and sold shares of the stock. Alerus Financial NA lifted its stake in Alerus Financial by 0.3% during the 4th quarter. Alerus Financial NA now owns 2,130,638 shares of the company’s stock valued at $40,993,000 after acquiring an additional 5,915 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Alerus Financial by 11.2% during the 4th quarter. Vanguard Group Inc. now owns 1,054,829 shares of the company’s stock valued at $20,295,000 after purchasing an additional 106,116 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Alerus Financial by 120.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 666,559 shares of the company’s stock valued at $12,824,000 after purchasing an additional 363,617 shares during the last quarter. Endeavour Capital Advisors Inc. increased its position in shares of Alerus Financial by 77.3% during the 4th quarter. Endeavour Capital Advisors Inc. now owns 527,283 shares of the company’s stock valued at $10,145,000 after purchasing an additional 229,932 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Alerus Financial by 26.0% during the 4th quarter. Geode Capital Management LLC now owns 524,195 shares of the company’s stock valued at $10,088,000 after purchasing an additional 108,123 shares during the last quarter. 51.25% of the stock is currently owned by institutional investors.

Alerus Financial Price Performance

Alerus Financial stock opened at $18.23 on Tuesday. The stock has a market capitalization of $461.91 million, a price-to-earnings ratio of 17.87 and a beta of 0.74. Alerus Financial has a 52-week low of $17.99 and a 52-week high of $24.41. The stock’s 50 day moving average price is $20.23 and its two-hundred day moving average price is $21.32. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.85 and a current ratio of 0.85.

Alerus Financial (NASDAQ:ALRS) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.16. Alerus Financial had a return on equity of 7.66% and a net margin of 6.26%. On average, equities analysts predict that Alerus Financial will post 2.14 earnings per share for the current year.

Alerus Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.39%. The ex-dividend date is Friday, March 14th. Alerus Financial’s dividend payout ratio (DPR) is presently 78.43%.

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.