Alerus Financial Co. (NASDAQ:ALRS) Receives $23.20 Average PT from Brokerages

Shares of Alerus Financial Co. (NASDAQ:ALRS) have received an average recommendation of “Hold” from the five brokerages that are presently covering the stock, 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 1 year price objective among analysts that have covered the stock in the last year is $23.20.

ALRS has been the topic of several recent research reports. 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 report on Thursday, October 31st. Keefe, Bruyette & Woods boosted their target price on Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. DA Davidson increased their price target on Alerus Financial from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Raymond James raised shares of Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a report on Tuesday, September 17th.

Alerus Financial Trading Up 2.0 %

Shares of NASDAQ ALRS opened at $22.68 on Wednesday. The business has a 50 day simple moving average of $22.30 and a 200 day simple moving average of $20.95. Alerus Financial has a 52 week low of $17.35 and a 52 week high of $25.85. The stock has a market cap of $574.71 million, a price-to-earnings ratio of 141.76 and a beta of 0.68. 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 earnings results on Tuesday, October 29th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.18). The business had revenue of $80.58 million during the quarter, compared to the consensus estimate 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 firm earned $0.45 earnings per share. On average, research analysts predict that Alerus Financial will post 0.97 earnings per share for the current fiscal year.

Alerus Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 13th were given a $0.20 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.53%. Alerus Financial’s dividend payout ratio is 500.03%.

Institutional Trading of Alerus Financial

Several hedge funds and other institutional investors have recently bought and sold shares of ALRS. Empowered Funds LLC grew its position in Alerus Financial by 44.0% during the first quarter. Empowered Funds LLC now owns 41,599 shares of the company’s stock worth $908,000 after buying an additional 12,719 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Alerus Financial by 1.5% in the first quarter. Vanguard Group Inc. now owns 911,806 shares of the company’s stock valued at $19,905,000 after purchasing an additional 13,637 shares in the last quarter. Acadian Asset Management LLC lifted its position in Alerus Financial by 4,147.8% in the first quarter. Acadian Asset Management LLC now owns 26,294 shares of the company’s stock worth $573,000 after purchasing an additional 25,675 shares during the period. Cetera Advisors LLC acquired a new stake in Alerus Financial during the first quarter worth $638,000. Finally, CWM LLC boosted its stake in 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 buying an additional 58,225 shares in the last quarter. 51.25% of the stock is currently 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.