Alerus Financial (NASDAQ:ALRS) Receives Consensus Rating of “Hold” from Analysts

Shares of Alerus Financial (NASDAQ:ALRS) have received a consensus rating of “Hold” from the seven brokerages that are currently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $35.50.

Several equities analysts have recently issued reports on ALRS shares. Wall Street Zen lowered Alerus Financial from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Raymond James Financial reissued an “outperform” rating and set a $37.00 price objective on shares of Alerus Financial in a research note on Monday, August 3rd. Zacks Research cut shares of Alerus Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 20th. DA Davidson set a $36.00 price objective on shares of Alerus Financial in a report on Friday, July 31st. Finally, Weiss Ratings downgraded shares of Alerus Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, August 17th.

Insider Activity at Alerus Financial

In other news, Director Jeffrey Bolton acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was acquired at an average price of $32.45 per share, for a total transaction of $32,450.00. Following the transaction, the director directly 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 purchase was disclosed in a document filed with the SEC, which is available at this link. 4.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC acquired a new position in Alerus Financial in the second quarter valued at about $36,000. Corient Private Wealth LP acquired a new stake in shares of Alerus Financial during the second quarter worth about $223,000. Susquehanna Fundamental Investments LLC raised its position in shares of Alerus Financial by 30.4% during the second quarter. Susquehanna Fundamental Investments LLC now owns 28,377 shares of the company’s stock worth $883,000 after purchasing an additional 6,608 shares during the period. Empowered Funds LLC bought a new position in shares of Alerus Financial during the 2nd quarter valued at about $3,084,000. Finally, Bank of America Corp DE acquired a new position in shares of Alerus Financial in the 2nd quarter valued at approximately $1,226,000. 51.25% of the stock is currently owned by institutional investors.

Alerus Financial Stock Performance

ALRS stock opened at $32.21 on Friday. Alerus Financial has a twelve month low of $20.31 and a twelve month high of $34.40. 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 has a market cap of $803.00 million, a P/E ratio of 30.39 and a beta of 0.67. The business’s fifty day moving average is $33.05 and its 200-day moving average is $29.31.

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

Alerus Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 25th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $0.88 annualized dividend and a dividend yield of 2.7%. Alerus Financial’s payout ratio is 83.02%.

Alerus Financial Company Profile

Alerus Financial Corporation is a financial services company and bank holding company headquartered in Grand Forks, North Dakota. Its principal subsidiary, Alerus Financial, National Association, provides banking, wealth management, retirement and employee-benefit services to individuals, families, businesses and institutions.

The company offers consumer and commercial deposit accounts, personal and business lending, mortgage banking, treasury management and related banking services. Through its wealth management and retirement businesses, Alerus provides investment management, trust and fiduciary services, retirement-plan administration, financial planning and benefit-account solutions, including health savings accounts and flexible spending accounts.

Alerus traces its history to 1933 and serves customers through offices and business operations in parts of Minnesota, North Dakota and Arizona, as well as through digital channels.