Alerus Financial (NASDAQ:ALRS) Declares Quarterly Dividend of $0.22

Alerus Financial (NASDAQ:ALRS) announced a quarterly dividend on Thursday, August 27th. Shareholders of record on Friday, September 25th will be given a dividend of 0.22 per share on Friday, October 9th. This represents a c) dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, September 25th.

Alerus Financial has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 25 years. Alerus Financial has a payout ratio of 37.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Alerus Financial to earn $2.82 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 31.2%.

Alerus Financial Trading Up 0.0%

ALRS opened at $33.24 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.89. Alerus Financial has a fifty-two week low of $20.31 and a fifty-two week high of $34.40. The company’s 50 day moving average price is $32.26 and its two-hundred day moving average price is $28.17. The firm has a market capitalization of $827.68 million, a price-to-earnings ratio of 31.36 and a beta of 0.68.

Alerus Financial (NASDAQ:ALRS) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. The firm had revenue of $80.00 million during the quarter, compared to the consensus estimate of $76.99 million. Alerus Financial had a net margin of 6.87% and a return on equity of 14.41%. As a group, research analysts predict that Alerus Financial will post 3.03 earnings per share for the current year.

About Alerus Financial

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.