Zacks Investment Research Upgrades Alerus Financial (NASDAQ:ALRS) to “Buy”

Alerus Financial (NASDAQ:ALRS – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, Zacks.com reports. The brokerage presently has a $29.00 price objective on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 15.58% from the company’s current price.

According to Zacks, “Alerus Financial Corporation is a financial services company, through its subsidiary Alerus Financial, National Association, Alerus offers financial solutions to businesses and consumers. The company’s segment consists of banking, retirement and benefit services, wealth management and mortgage. Alerus Financial Corporation is headquartered in Grand Forks, North Dakota. “

Shares of NASDAQ:ALRS traded down $0.46 on Monday, hitting $25.09. 1,519 shares of the company’s stock were exchanged, compared to its average volume of 23,107. The firm’s 50-day moving average is $27.73 and its 200 day moving average is $29.53. The company has a market capitalization of $436.64 million, a PE ratio of 9.33 and a beta of 0.73. Alerus Financial has a 1-year low of $24.97 and a 1-year high of $38.31. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.67 and a current ratio of 0.68.

Alerus Financial (NASDAQ:ALRS – Get Rating) last announced its earnings results on Wednesday, April 27th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.03. Alerus Financial had a return on equity of 13.52% and a net margin of 20.86%. During the same period in the previous year, the firm posted $0.86 earnings per share. On average, analysts anticipate that Alerus Financial will post 2.4 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALRS. Alerus Financial NA increased its stake in Alerus Financial by 21.6% in the 4th quarter. Alerus Financial NA now owns 2,383,791 shares of the company’s stock valued at $69,797,000 after purchasing an additional 423,915 shares in the last quarter. Mairs & Power Inc. acquired a new position in Alerus Financial in the fourth quarter valued at $1,701,000. Millennium Management LLC acquired a new position in Alerus Financial in the fourth quarter valued at $986,000. BlackRock Inc. boosted its holdings in Alerus Financial by 2.9% in the third quarter. BlackRock Inc. now owns 1,022,913 shares of the company’s stock valued at $30,565,000 after acquiring an additional 29,274 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in Alerus Financial in the fourth quarter valued at about $668,000. 39.47% of the stock is owned by hedge funds and other institutional investors.

About Alerus Financial (Get Rating)

Alerus Financial Corporation, through its subsidiary, Alerus Financial, National Association, provides various financial services to businesses and consumers. The company operates in four segments: Banking, Retirement and Benefit Services, Wealth Management, and Mortgage. It offers various deposit products, including demand deposits, interest-bearing transaction accounts, money market accounts, time and savings deposits, checking accounts, and certificates of deposit; and treasury management products, including electronic receivables management, remote deposit capture, cash vault services, merchant services, and other cash management services.

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