Alerus Financial (NASDAQ:ALRS) Stock Price Target Raised at Keefe, Bruyette & Woods

Alerus Financial (NASDAQ:ALRS) had its price target lifted by Keefe, Bruyette & Woods from $32.00 to $34.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods‘s price target points to a potential upside of 1.74% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Piper Sandler raised shares of Alerus Financial from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $37.00 to $38.00 in a research note on Friday, October 2nd. Weiss Ratings lowered shares of Alerus Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 16th. Wall Street Zen cut Alerus Financial from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Raymond James Financial restated an “outperform” rating and issued a $37.00 price target on shares of Alerus Financial in a research note on Monday, August 3rd. Finally, Zacks Research cut shares of Alerus Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 20th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Alerus Financial presently has an average rating of “Hold” and a consensus target price of $36.25.

Alerus Financial Price Performance

NASDAQ:ALRS traded up $0.39 during mid-day trading on Friday, reaching $33.42. The stock had a trading volume of 1,318 shares, compared to its average volume of 173,691. The firm has a 50 day moving average price of $32.35 and a two-hundred day moving average price of $28.73. The stock has a market capitalization of $833.16 million, a P/E ratio of 28.59 and a beta of 0.69. Alerus Financial has a one year low of $20.31 and a one year high of $34.40. 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 posted its quarterly earnings results on Wednesday, October 28th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. The business had revenue of $79.52 million for the quarter, compared to analyst estimates of $76.72 million. Alerus Financial had a return on equity of 14.48% and a net margin of 7.35%. As a group, analysts expect that Alerus Financial will post 3.04 earnings per share for the current year.

Insider Buying and Selling at Alerus Financial

In related news, Director Jeffrey Bolton purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were bought at an average price of $32.45 per share, for a total transaction of $32,450.00. Following the acquisition, the director owned 15,163 shares of the company’s stock, valued at approximately $492,039.35. This represents a 7.06% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Alerus Financial

A number of institutional investors and hedge funds have recently modified their holdings of ALRS. First Trust Advisors LP boosted its holdings in Alerus Financial by 0.6% in the first quarter. First Trust Advisors LP now owns 81,208 shares of the company’s stock worth $1,925,000 after acquiring an additional 503 shares in the last quarter. Inspire Investing LLC increased its holdings in shares of Alerus Financial by 3.8% during the first quarter. Inspire Investing LLC now owns 21,677 shares of the company’s stock valued at $514,000 after acquiring an additional 799 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Alerus Financial during the second quarter valued at about $36,000. Legal & General Group Plc purchased a new position in shares of Alerus Financial in the 2nd quarter valued at approximately $73,000. Finally, Meeder Asset Management Inc. acquired a new stake in Alerus Financial in the 1st quarter worth approximately $90,000. 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.