Alerus Financial (NASDAQ:ALRS) Lowered to Hold Rating by Wall Street Zen

Alerus Financial (NASDAQ:ALRS) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

Other research analysts have also issued reports about the company. Piper Sandler increased their price objective on Alerus Financial from $24.00 to $25.50 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Keefe, Bruyette & Woods increased their price objective on Alerus Financial from $22.00 to $25.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 29th. Raymond James Financial reiterated an “outperform” rating and issued a $27.00 price objective (up from $24.00) on shares of Alerus Financial in a research report on Tuesday, July 29th. Finally, DA Davidson raised their price target on Alerus Financial from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 29th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $25.63.

Alerus Financial Price Performance

Shares of Alerus Financial stock opened at $21.60 on Friday. The business has a 50 day simple moving average of $21.76 and a two-hundred day simple moving average of $20.41. Alerus Financial has a 12 month low of $15.78 and a 12 month high of $24.41. The stock has a market capitalization of $548.55 million, a P/E ratio of 12.78 and a beta of 0.71. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.88 and a quick ratio of 0.87.

Alerus Financial (NASDAQ:ALRS) last posted its quarterly earnings results on Monday, July 28th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.16. The business had revenue of $74.80 million during the quarter, compared to analyst estimates of $69.96 million. Alerus Financial had a return on equity of 10.21% and a net margin of 11.06%. As a group, analysts predict that Alerus Financial will post 2.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Alerus Financial

Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in shares of Alerus Financial by 120.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 666,559 shares of the company’s stock valued at $12,824,000 after acquiring an additional 363,617 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Alerus Financial during the 1st quarter valued at approximately $6,040,000. Rhino Investment Partners Inc acquired a new stake in shares of Alerus Financial during the 4th quarter valued at approximately $5,849,000. FJ Capital Management LLC acquired a new stake in shares of Alerus Financial during the 4th quarter valued at approximately $5,557,000. Finally, CSM Advisors LLC acquired a new stake in shares of Alerus Financial during the 2nd quarter valued at approximately $4,123,000. Institutional investors and hedge funds own 51.25% of the company’s stock.

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.