Alerus Financial (NASDAQ:ALRS) Issues Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Alerus Financial (NASDAQ:ALRS) announced its quarterly earnings data on Wednesday. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05, FiscalAI reports. The firm had revenue of $79.52 million during the quarter, compared to analyst estimates of $76.72 million. Alerus Financial had a return on equity of 14.41% and a net margin of 6.87%.

Alerus Financial Trading Up 0.1%

Shares of ALRS stock traded up $0.04 on Wednesday, reaching $32.27. The company had a trading volume of 109,478 shares, compared to its average volume of 174,496. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The stock has a market cap of $804.49 million, a PE ratio of 30.44 and a beta of 0.69. The company has a 50-day moving average of $32.37 and a 200-day moving average of $28.65. Alerus Financial has a 12 month low of $20.31 and a 12 month high of $34.40.

Alerus Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 25th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Friday, September 25th. Alerus Financial’s payout ratio is presently 83.02%.

Insider Buying and Selling at Alerus Financial

In other news, Director Jeffrey Bolton bought 1,000 shares of the stock in a transaction on Tuesday, September 1st. The stock was purchased at an average price of $32.45 per share, with a total value of $32,450.00. Following the completion of the purchase, the director owned 15,163 shares of the company’s stock, valued at approximately $492,039.35. This trade represents a 7.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 4.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have weighed in on the company. DA Davidson set a $36.00 price objective on Alerus Financial in a report on Friday, July 31st. Wall Street Zen lowered shares of Alerus Financial from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Keefe, Bruyette & Woods lifted their price target on shares of Alerus Financial from $29.00 to $32.00 and gave the stock a “market perform” rating in a research report on Friday, July 31st. Zacks Research downgraded shares of Alerus Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 20th. Finally, Raymond James Financial reissued an “outperform” rating and set a $37.00 price target on shares of Alerus Financial in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $35.75.

About Alerus Financial

Alerus Financial Corporation is a diversified financial services company and the holding company for Alerus Financial, N.A. Through its banking subsidiary, the company provides consumer and commercial banking services, including checking and savings accounts, residential and commercial lending, treasury management, and digital banking solutions.

The company also offers wealth management, investment advisory, trust, retirement plan administration, and employee benefit services. These offerings are designed to serve individuals, families, businesses, nonprofit organizations, and employers through an integrated banking and financial planning model.

Alerus traces its roots to 1933 and serves clients through offices and operations in portions of the Upper Midwest and other selected U.S.