Alerus Financial’s (ALRS) Hold (C+) Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their hold (c+) rating on shares of Alerus Financial (NASDAQ:ALRS) in a research note released on Friday,Weiss Ratings reports.

A number of other equities research analysts also recently issued reports on ALRS. Raymond James Financial reiterated an “outperform” rating and set a $27.00 price objective (up from $24.00) on shares of Alerus Financial in a research note on Tuesday, July 29th. DA Davidson increased their price target on shares of Alerus Financial from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 29th. Wall Street Zen cut shares of Alerus Financial from a “buy” rating to a “hold” rating in a research note on Sunday, August 17th. Piper Sandler boosted their price objective on shares of Alerus Financial from $24.00 to $25.50 and gave the company a “neutral” rating in a research report on Wednesday, July 30th. Finally, Keefe, Bruyette & Woods raised their target price on Alerus Financial from $22.00 to $25.00 and gave the company a “market perform” rating in a report on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Alerus Financial has a consensus rating of “Moderate Buy” and an average target price of $25.63.

Alerus Financial Price Performance

Alerus Financial stock opened at $21.69 on Friday. The firm has a market cap of $550.93 million, a PE ratio of 12.83 and a beta of 0.70. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.88 and a quick ratio of 0.87. The stock’s fifty day moving average price is $22.14 and its two-hundred day moving average price is $21.31. Alerus Financial has a one year low of $15.78 and a one year high of $24.33.

Alerus Financial (NASDAQ:ALRS) last released its earnings results on Monday, July 28th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.16. The company had revenue of $74.80 million for 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, research analysts expect that Alerus Financial will post 2.14 EPS for the current fiscal year.

Alerus Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were given a $0.21 dividend. The ex-dividend date was Friday, September 26th. This represents a $0.84 dividend on an annualized basis and a yield of 3.9%. Alerus Financial’s dividend payout ratio (DPR) is currently 49.70%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. CWM LLC lifted its stake in shares of Alerus Financial by 12.0% in the 3rd quarter. CWM LLC now owns 72,007 shares of the company’s stock valued at $1,594,000 after acquiring an additional 7,705 shares during the last quarter. Inspire Investing LLC increased its holdings in Alerus Financial by 15.4% in the 3rd quarter. Inspire Investing LLC now owns 20,623 shares of the company’s stock worth $457,000 after purchasing an additional 2,750 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Alerus Financial by 172.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,371 shares of the company’s stock worth $73,000 after purchasing an additional 2,135 shares in the last quarter. BNP Paribas Financial Markets raised its position in Alerus Financial by 259.2% in the second quarter. BNP Paribas Financial Markets now owns 4,350 shares of the company’s stock valued at $94,000 after purchasing an additional 3,139 shares during the last quarter. Finally, Black Maple Capital Management LP boosted its stake in shares of Alerus Financial by 16.6% during the second quarter. Black Maple Capital Management LP now owns 14,972 shares of the company’s stock valued at $324,000 after purchasing an additional 2,137 shares in the last quarter. 51.25% of the stock is currently owned by institutional investors and hedge funds.

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.