Alerus Financial (NASDAQ:ALRS) Raised to Strong-Buy at Zacks Research

Alerus Financial (NASDAQ:ALRS) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday, Zacks reports.

Other research analysts have also recently issued reports about the company. Wall Street Zen cut Alerus Financial from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. DA Davidson set a $36.00 price target on Alerus Financial in a research report on Friday, July 31st. Raymond James Financial reaffirmed an “outperform” rating and set a $37.00 price target on shares of Alerus Financial in a research report on Monday, August 3rd. Weiss Ratings upgraded Alerus Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Finally, Piper Sandler upgraded Alerus Financial from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $37.00 to $38.00 in a research report on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.25.

Alerus Financial Trading Down 0.8%

Shares of NASDAQ ALRS opened at $34.35 on Monday. Alerus Financial has a twelve month low of $20.76 and a twelve month high of $34.73. The stock has a market cap of $856.35 million, a price-to-earnings ratio of 29.36 and a beta of 0.68. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. The company’s fifty day moving average is $32.43 and its 200-day moving average is $28.89.

Alerus Financial (NASDAQ:ALRS) last released its quarterly earnings data on Wednesday, October 28th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The business had revenue of $79.52 million during the quarter, compared to analysts’ expectations of $76.72 million. Alerus Financial had a net margin of 7.35% and a return on equity of 14.48%. Equities research analysts predict that Alerus Financial will post 3.13 EPS for the current year.

Insider Buying and Selling at Alerus Financial

In other news, Director Jeffrey Bolton bought 1,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were acquired at an average cost of $32.45 per share, for a total transaction of $32,450.00. Following the completion of the acquisition, the director owned 15,163 shares in the company, valued at approximately $492,039.35. This represents a 7.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Parallel Advisors LLC increased its stake in shares of Alerus Financial by 2,313.0% in the 3rd quarter. Parallel Advisors LLC now owns 2,606 shares of the company’s stock valued at $82,000 after purchasing an additional 2,498 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Alerus Financial during the 2nd quarter worth $36,000. Corient Private Wealth LP bought a new stake in shares of Alerus Financial during the 2nd quarter worth $223,000. Susquehanna Fundamental Investments LLC lifted its position in shares of Alerus Financial by 30.4% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 28,377 shares of the company’s stock worth $883,000 after buying an additional 6,608 shares during the last quarter. Finally, Empowered Funds LLC acquired a new stake in Alerus Financial in the second quarter valued at about $3,084,000. 51.25% of the stock is owned by institutional investors.

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.