Alerus Financial (NASDAQ:ALRS) Given Average Rating of “Hold” by Analysts

Alerus Financial (NASDAQ:ALRS) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $25.00.

ALRS has been the subject of several recent research reports. Hovde Group lowered shares of Alerus Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 7th. Keefe, Bruyette & Woods lowered their price objective on shares of Alerus Financial from $25.00 to $24.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. Zacks Research lowered shares of Alerus Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Piper Sandler lowered their target price on Alerus Financial from $25.50 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, November 4th. Finally, Raymond James Financial upgraded Alerus Financial from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $25.00 to $27.00 in a research report on Monday, January 5th.

Institutional Trading of Alerus Financial

Large investors have recently modified their holdings of the company. Thompson Investment Management Inc. acquired a new position in Alerus Financial during the 2nd quarter valued at about $32,000. NewEdge Advisors LLC boosted its position in shares of Alerus Financial by 90.1% during the second quarter. NewEdge Advisors LLC now owns 1,544 shares of the company’s stock worth $33,000 after buying an additional 732 shares during the period. CIBC Private Wealth Group LLC acquired a new position in shares of Alerus Financial during the third quarter worth approximately $52,000. AlphaQuest LLC bought a new position in Alerus Financial in the 3rd quarter worth approximately $59,000. Finally, Tower Research Capital LLC TRC increased its position in Alerus Financial by 172.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,371 shares of the company’s stock valued at $73,000 after acquiring an additional 2,135 shares during the period. Institutional investors and hedge funds own 51.25% of the company’s stock.

Alerus Financial Stock Down 0.9%

Shares of Alerus Financial stock opened at $23.94 on Friday. The business has a 50-day moving average price of $22.45 and a 200 day moving average price of $22.12. Alerus Financial has a fifty-two week low of $15.78 and a fifty-two week high of $24.43. The firm has a market cap of $608.00 million, a P/E ratio of 11.51 and a beta of 0.66. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11.

Alerus Financial (NASDAQ:ALRS) last issued its earnings results on Thursday, October 30th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.59 by $0.07. The company had revenue of $72.57 million during the quarter, compared to analyst estimates of $71.41 million. Alerus Financial had a return on equity of 11.63% and a net margin of 13.45%. On average, sell-side analysts forecast that Alerus Financial will post 2.14 earnings per share for the current fiscal year.

Alerus Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 26th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Friday, December 26th. Alerus Financial’s dividend payout ratio (DPR) is presently 40.38%.

Alerus Financial Company Profile

Alerus Financial Corporation (NASDAQ: ALRS) is a diversified financial services company headquartered in Grand Forks, North Dakota. The firm provides a full range of commercial and consumer banking products, including deposit accounts, lending solutions and treasury management services for individuals, small businesses and larger corporate clients. Through its community banking network, Alerus emphasizes local decision-making and personalized service to meet the needs of its varied client base.

In addition to traditional banking offerings, Alerus operates a national mortgage origination and servicing platform that delivers home purchase and refinance loans.