Alerus Financial (NASDAQ:ALRS) Stock Price Expected to Rise, Piper Sandler Analyst Says

Alerus Financial (NASDAQ:ALRS) had its price objective lifted by equities research analysts at Piper Sandler from $22.00 to $23.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 11.43% from the company’s current price.

Several other research firms have also weighed in on ALRS. DA Davidson reissued a “neutral” rating and set a $23.00 price target on shares of Alerus Financial in a research report on Thursday, January 30th. Raymond James reiterated an “outperform” rating and issued a $24.00 target price (up from $22.00) on shares of Alerus Financial in a research note on Thursday, January 30th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Alerus Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Alerus Financial presently has a consensus rating of “Hold” and an average price target of $23.00.

Alerus Financial Stock Up 2.7 %

Shares of Alerus Financial stock opened at $20.64 on Friday. Alerus Financial has a fifty-two week low of $15.78 and a fifty-two week high of $24.41. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15. The firm has a market cap of $526.55 million, a P/E ratio of 20.24 and a beta of 0.67. The business has a 50-day moving average price of $18.22 and a 200 day moving average price of $20.14.

Alerus Financial (NASDAQ:ALRS) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.13. The firm had revenue of $68.79 million for the quarter, compared to the consensus estimate of $66.20 million. Alerus Financial had a net margin of 6.26% and a return on equity of 7.66%. On average, sell-side analysts forecast that Alerus Financial will post 2.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alerus Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its holdings in Alerus Financial by 207.4% during the third quarter. JPMorgan Chase & Co. now owns 24,214 shares of the company’s stock worth $554,000 after acquiring an additional 16,336 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Alerus Financial by 2,346.3% in the 4th quarter. Alliancebernstein L.P. now owns 287,931 shares of the company’s stock valued at $5,540,000 after buying an additional 276,161 shares during the last quarter. Barclays PLC grew its stake in shares of Alerus Financial by 58.8% in the third quarter. Barclays PLC now owns 44,399 shares of the company’s stock valued at $1,017,000 after buying an additional 16,436 shares in the last quarter. Choreo LLC bought a new stake in Alerus Financial during the fourth quarter worth $2,620,000. Finally, Empowered Funds LLC lifted its stake in Alerus Financial by 70.8% in the fourth quarter. Empowered Funds LLC now owns 80,184 shares of the company’s stock valued at $1,543,000 after acquiring an additional 33,247 shares during the last quarter. 51.25% of the stock is owned by institutional investors.

About Alerus Financial

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.