Alerus Financial (NASDAQ:ALRS) Receives $26.00 Average PT from Brokerages

Shares of Alerus Financial (NASDAQ:ALRS) have been assigned a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $26.00.

A number of equities analysts have recently commented on the stock. DA Davidson lifted their target price on shares of Alerus Financial from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Zacks Research raised shares of Alerus Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 28th. Keefe, Bruyette & Woods lifted their price objective on shares of Alerus Financial from $24.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday, January 30th. Hovde Group downgraded shares of Alerus Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 7th. Finally, Raymond James Financial set a $29.00 price target on Alerus Financial and gave the stock a “strong-buy” rating in a report on Friday, January 30th.

Institutional Investors Weigh In On Alerus Financial

Several hedge funds have recently modified their holdings of the stock. Los Angeles Capital Management LLC boosted its holdings in Alerus Financial by 110.9% in the 2nd quarter. Los Angeles Capital Management LLC now owns 97,749 shares of the company’s stock valued at $2,115,000 after purchasing an additional 51,405 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Alerus Financial during the 2nd quarter worth approximately $201,000. Gamco Investors INC. ET AL acquired a new stake in shares of Alerus Financial in the 2nd quarter valued at approximately $2,341,000. CSM Advisors LLC acquired a new stake in shares of Alerus Financial in the 2nd quarter valued at approximately $4,123,000. Finally, Gabelli Funds LLC purchased a new stake in shares of Alerus Financial in the second quarter valued at approximately $2,982,000. 51.25% of the stock is owned by institutional investors and hedge funds.

Alerus Financial Stock Up 1.1%

Alerus Financial stock opened at $25.72 on Thursday. The company has a market capitalization of $653.29 million, a P/E ratio of 38.97 and a beta of 0.64. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89. Alerus Financial has a fifty-two week low of $15.78 and a fifty-two week high of $26.32. The stock has a 50-day simple moving average of $23.37 and a 200-day simple moving average of $22.35.

Alerus Financial (NASDAQ:ALRS) last released its quarterly earnings results on Wednesday, January 28th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.57 by $0.28. Alerus Financial had a return on equity of 13.38% and a net margin of 4.36%.The company had revenue of $77.07 million for the quarter, compared to analyst estimates of $71.43 million. Equities research analysts expect that Alerus Financial will post 2.14 earnings per share for the current year.

Alerus Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 26th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Friday, December 26th. Alerus Financial’s dividend payout ratio (DPR) is 127.27%.

Alerus Financial Company Profile

Alerus Financial Corporation (NASDAQ: ALRS) is a diversified financial services company headquartered in Grand Forks, North Dakota. The firm provides a full range of commercial and consumer banking products, including deposit accounts, lending solutions and treasury management services for individuals, small businesses and larger corporate clients. Through its community banking network, Alerus emphasizes local decision-making and personalized service to meet the needs of its varied client base.

In addition to traditional banking offerings, Alerus operates a national mortgage origination and servicing platform that delivers home purchase and refinance loans.