Alerus Financial (NASDAQ:ALRS) Rating Lowered to Hold at Zacks Research

Alerus Financial (NASDAQ:ALRS) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

ALRS has been the topic of several other research reports. Piper Sandler raised their price objective on Alerus Financial from $32.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Raymond James Financial reiterated an “outperform” rating and issued a $37.00 target price on shares of Alerus Financial in a research note on Monday, August 3rd. Wall Street Zen lowered shares of Alerus Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Keefe, Bruyette & Woods increased 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 note on Friday, July 31st. Finally, DA Davidson set a $36.00 price target on shares of Alerus Financial in a report on Friday, July 31st. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $35.50.

Alerus Financial Stock Up 0.6%

Shares of NASDAQ ALRS opened at $32.77 on Thursday. Alerus Financial has a 1 year low of $20.31 and a 1 year high of $34.40. The firm’s 50 day moving average price is $32.00 and its 200 day moving average price is $27.94. The firm has a market cap of $815.97 million, a P/E ratio of 30.92 and a beta of 0.68. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.90.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC lifted its position in Alerus Financial by 30.4% during the second quarter. Susquehanna Fundamental Investments LLC now owns 28,377 shares of the company’s stock valued at $883,000 after buying an additional 6,608 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Alerus Financial in the second quarter worth $3,084,000. Bank of America Corp DE purchased a new position in shares of Alerus Financial in the 2nd quarter valued at $1,226,000. Basswood Capital Management L.L.C. purchased a new position in shares of Alerus Financial in the 2nd quarter valued at $1,873,000. Finally, Odyssean LLC purchased a new position in shares of Alerus Financial in the 2nd quarter valued at $584,000. 51.25% of the stock is owned by institutional investors and hedge funds.

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.