Alerus Financial (NASDAQ:ALRS) Raised to Moderate Buy at Raymond James Financial

Alerus Financial (NASDAQ:ALRS) was upgraded by equities research analysts at Raymond James Financial to a “moderate buy” rating in a report released on Thursday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods raised their price target on shares of Alerus Financial from $25.00 to $27.00 and gave the company a “market perform” rating in a report on Friday, May 1st. Weiss Ratings upgraded shares of Alerus Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Zacks Research raised shares of Alerus Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. DA Davidson upped their price target on Alerus Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Finally, Wall Street Zen upgraded Alerus Financial from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $30.50.

Alerus Financial Trading Up 1.7%

Shares of NASDAQ ALRS opened at $30.87 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $775.76 million, a P/E ratio of 29.97 and a beta of 0.68. Alerus Financial has a 1-year low of $20.26 and a 1-year high of $31.85. The business has a fifty day moving average price of $28.96 and a 200 day moving average price of $25.89.

Alerus Financial (NASDAQ:ALRS) last posted its earnings results on Wednesday, April 29th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.31. The company had revenue of $75.78 million for the quarter, compared to analyst estimates of $73.78 million. Alerus Financial had a return on equity of 14.39% and a net margin of 6.74%. Equities research analysts expect that Alerus Financial will post 3.02 EPS for the current fiscal year.

Institutional Trading of Alerus Financial

Large investors have recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co increased its stake in Alerus Financial by 25.7% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,222 shares of the company’s stock valued at $50,000 after purchasing an additional 455 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of Alerus Financial by 50.0% during the fourth quarter. Larson Financial Group LLC now owns 1,500 shares of the company’s stock worth $34,000 after buying an additional 500 shares during the period. First Trust Advisors LP lifted its stake in shares of Alerus Financial by 0.6% during the first quarter. First Trust Advisors LP now owns 81,208 shares of the company’s stock worth $1,925,000 after buying an additional 503 shares during the period. Gator Capital Management LLC grew its holdings in shares of Alerus Financial by 0.8% during the fourth quarter. Gator Capital Management LLC now owns 65,410 shares of the company’s stock valued at $1,473,000 after buying an additional 505 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Alerus Financial by 4.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,420 shares of the company’s stock valued at $248,000 after buying an additional 546 shares during the last quarter. Hedge funds and other institutional investors own 51.25% of the company’s stock.

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.