FY2024 EPS Estimates for Alerus Financial Co. Lifted by DA Davidson (NASDAQ:ALRS)

Alerus Financial Co. (NASDAQ:ALRS) – DA Davidson lifted their FY2024 earnings estimates for Alerus Financial in a note issued to investors on Wednesday, May 1st. DA Davidson analyst J. Rulis now forecasts that the company will post earnings per share of $1.44 for the year, up from their prior estimate of $1.40. 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.

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

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

Alerus Financial Stock Up 0.9 %

Shares of NASDAQ:ALRS opened at $19.96 on Friday. Alerus Financial has a fifty-two week low of $13.11 and a fifty-two week high of $25.85. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.16. The firm’s 50-day simple moving average is $21.10 and its 200-day simple moving average is $20.62. The company has a market cap of $394.01 million, a price-to-earnings ratio of 40.74 and a beta of 0.67.

Alerus Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 15th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend was Thursday, March 14th. Alerus Financial’s dividend payout ratio is currently 155.11%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. ICA Group Wealth Management LLC purchased a new stake in shares of Alerus Financial during the 4th quarter worth approximately $81,000. SG Americas Securities LLC purchased a new stake in Alerus Financial during the third quarter worth $142,000. Harbor Advisors LLC acquired a new stake in Alerus Financial in the fourth quarter valued at $221,000. Wealth Forward LLC purchased a new position in shares of Alerus Financial in the fourth quarter valued at $1,242,000. Finally, Sippican Capital Advisors raised its stake in shares of Alerus Financial by 93.6% during the 4th quarter. Sippican Capital Advisors now owns 60,205 shares of the company’s stock worth $1,348,000 after buying an additional 29,115 shares during the last quarter. 51.25% of the stock is owned by hedge funds and other institutional investors.

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.