Analysts Set Alerus Financial Co. (NASDAQ:ALRS) Price Target at $23.40

Alerus Financial Co. (NASDAQ:ALRS) has earned an average rating of “Hold” from the five analysts that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $23.40.

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

Hedge Funds Weigh In On Alerus Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc boosted its position in Alerus Financial by 32.7% during the fourth quarter. Legal & General Group Plc now owns 2,025 shares of the company’s stock worth $39,000 after purchasing an additional 499 shares during the period. Ameritas Investment Partners Inc. boosted its position in shares of Alerus Financial by 31.9% in the fourth quarter. Ameritas Investment Partners Inc. now owns 2,349 shares of the company’s stock valued at $45,000 after acquiring an additional 568 shares during the period. Invesco Ltd. boosted its position in shares of Alerus Financial by 2.2% in the fourth quarter. Invesco Ltd. now owns 33,215 shares of the company’s stock valued at $639,000 after acquiring an additional 717 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Alerus Financial by 457.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,277 shares of the company’s stock valued at $25,000 after acquiring an additional 1,048 shares during the period. Finally, Corebridge Financial Inc. boosted its position in shares of Alerus Financial by 17.1% in the fourth quarter. Corebridge Financial Inc. now owns 11,164 shares of the company’s stock valued at $215,000 after acquiring an additional 1,628 shares during the period. Institutional investors own 51.25% of the company’s stock.

Alerus Financial Stock Performance

Shares of ALRS stock opened at $21.42 on Friday. The firm has a 50-day moving average of $20.36 and a 200-day moving average of $21.45. The company has a market cap of $542.78 million, a P/E ratio of 21.00 and a beta of 0.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.85 and a quick ratio of 0.85. Alerus Financial has a one year low of $17.99 and a one year high of $24.41.

Alerus Financial (NASDAQ:ALRS) last announced its earnings results on Tuesday, January 28th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.28 by $0.16. Alerus Financial had a net margin of 6.26% and a return on equity of 7.66%. Equities research analysts forecast that Alerus Financial will post 2.14 EPS for the current fiscal year.

Alerus Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, December 27th were given a dividend of $0.20 per share. The ex-dividend date was Friday, December 27th. This represents a $0.80 dividend on an annualized basis and a yield of 3.73%. Alerus Financial’s dividend payout ratio is presently 78.43%.

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.