Analysts Offer Predictions for Alerus Financial Co.’s Q2 2024 Earnings (NASDAQ:ALRS)

Alerus Financial Co. (NASDAQ:ALRS) – Equities research analysts at DA Davidson issued their Q2 2024 earnings estimates for shares of Alerus Financial in a note issued to investors on Wednesday, May 1st. DA Davidson analyst J. Rulis expects that the company will earn $0.36 per share for the quarter. DA Davidson currently has a “Neutral” rating and a $24.00 target price on the stock. The consensus estimate for Alerus Financial’s current full-year earnings is $1.48 per share.

Separately, TheStreet lowered shares of Alerus Financial from a “b-” rating to a “c+” rating in a research report on Wednesday, March 13th.

Alerus Financial Stock Performance

NASDAQ ALRS opened at $19.79 on Thursday. Alerus Financial has a 1 year low of $13.11 and a 1 year high of $25.85. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market cap of $390.65 million, a price-to-earnings ratio of 40.35 and a beta of 0.67. The company has a fifty day moving average price of $21.14 and a 200-day moving average price of $20.63.

Alerus Financial (NASDAQ:ALRS) last posted its earnings results on Thursday, April 25th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. Alerus Financial had a net margin of 3.54% and a return on equity of 8.20%. The firm had revenue of $74.36 million during the quarter, compared to analyst estimates of $47.40 million. During the same quarter in the prior year, the business posted $0.40 EPS.

Hedge Funds Weigh In On Alerus Financial

Several institutional investors have recently added to or reduced their stakes in the stock. ICA Group Wealth Management LLC bought a new position in Alerus Financial during the fourth quarter worth about $81,000. SG Americas Securities LLC bought a new position in Alerus Financial during the third quarter worth about $142,000. Harbor Advisors LLC bought a new position in Alerus Financial during the fourth quarter worth about $221,000. Wealth Forward LLC bought a new position in Alerus Financial during the fourth quarter worth about $1,242,000. Finally, Sippican Capital Advisors boosted its position in Alerus Financial by 93.6% during the fourth quarter. Sippican Capital Advisors now owns 60,205 shares of the company’s stock worth $1,348,000 after purchasing an additional 29,115 shares during the period. Institutional investors own 51.25% of the company’s stock.

Alerus Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 15th were given a dividend of $0.19 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.76 annualized dividend and a yield of 3.84%. Alerus Financial’s payout ratio is currently 155.11%.

Alerus Financial Company Profile

Alerus Financial Corporation operates as the bank holding company for Alerus Financial, National Association that engages in the provision of various financial services to businesses and consumers. The company operates in four segments: Banking, Mortgage, Retirement and Benefit Services, and Wealth Management.