Alerus Financial (NASDAQ:ALRS) Receives $25.63 Average Price Target from Analysts

Shares of Alerus Financial (NASDAQ:ALRS) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $25.6250.

A number of equities analysts recently commented on ALRS shares. DA Davidson lifted their price target on Alerus Financial from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, July 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Alerus Financial in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price target on Alerus Financial from $22.00 to $25.00 and gave the company a “market perform” rating in a report on Tuesday, July 29th. Piper Sandler lifted their price objective on shares of Alerus Financial from $24.00 to $25.50 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Finally, Zacks Research raised shares of Alerus Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 23rd.

Hedge Funds Weigh In On Alerus Financial

A number of large investors have recently made changes to their positions in ALRS. Thompson Investment Management Inc. bought a new position in Alerus Financial during the second quarter worth about $32,000. NewEdge Advisors LLC grew its position in shares of Alerus Financial by 90.1% during the 2nd quarter. NewEdge Advisors LLC now owns 1,544 shares of the company’s stock worth $33,000 after purchasing an additional 732 shares in the last quarter. State of Wyoming acquired a new position in shares of Alerus Financial during the 1st quarter worth approximately $49,000. Tower Research Capital LLC TRC increased its holdings in shares of Alerus Financial by 172.7% during the second 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 during the period. Finally, BNP Paribas Financial Markets raised its position in shares of 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 buying an additional 3,139 shares in the last quarter. Institutional investors own 51.25% of the company’s stock.

Alerus Financial Stock Performance

NASDAQ ALRS opened at $21.21 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11. The firm’s fifty day moving average price is $22.12 and its two-hundred day moving average price is $21.41. Alerus Financial has a 1 year low of $15.78 and a 1 year high of $24.33. The firm has a market capitalization of $538.73 million, a P/E ratio of 10.59 and a beta of 0.70.

Alerus Financial (NASDAQ:ALRS) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. The company had revenue of $72.57 million during the quarter, compared to the consensus estimate of $71.41 million. Alerus Financial had a net margin of 11.06% and a return on equity of 10.21%. As a group, research analysts anticipate that Alerus Financial will post 2.14 EPS for the current year.

Alerus Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were given a dividend of $0.21 per share. The ex-dividend date was Friday, September 26th. This represents a $0.84 annualized dividend and a yield of 4.0%. Alerus Financial’s dividend payout ratio (DPR) is 49.70%.

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.