Alerus Financial (NASDAQ:ALRS) Receives $26.00 Consensus Target Price from Analysts

Shares of Alerus Financial (NASDAQ:ALRS) have received an average rating of “Hold” from the seven research firms that are presently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $26.00.

Several equities research analysts have commented on the stock. DA Davidson boosted their price target on shares of Alerus Financial from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Raymond James Financial set a $29.00 price target on shares of Alerus Financial and gave the stock a “strong-buy” rating in a research report on Friday, January 30th. Wall Street Zen cut shares of Alerus Financial from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings cut shares of Alerus Financial from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday, March 5th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Alerus Financial from $24.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, January 30th.

Alerus Financial Price Performance

Shares of NASDAQ ALRS opened at $25.49 on Tuesday. The firm has a market cap of $651.52 million, a PE ratio of 38.62 and a beta of 0.59. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. Alerus Financial has a 1-year low of $17.40 and a 1-year high of $26.32. The company has a fifty day moving average price of $24.44 and a 200 day moving average price of $23.25.

Alerus Financial (NASDAQ:ALRS) last announced its earnings results on Wednesday, January 28th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.28. The firm had revenue of $77.07 million during the quarter, compared to analyst estimates of $71.43 million. Alerus Financial had a net margin of 4.36% and a return on equity of 13.18%. Research analysts predict that Alerus Financial will post 2.52 earnings per share for the current fiscal year.

Alerus Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, March 27th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, March 27th. This represents a $0.84 annualized dividend and a yield of 3.3%. Alerus Financial’s payout ratio is 127.27%.

Institutional Investors Weigh In On Alerus Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Inspire Investing LLC lifted its position in Alerus Financial by 3.8% during the 1st quarter. Inspire Investing LLC now owns 21,677 shares of the company’s stock worth $514,000 after buying an additional 799 shares in the last quarter. Hsbc Holdings PLC lifted its position in Alerus Financial by 43.0% during the 4th quarter. Hsbc Holdings PLC now owns 46,666 shares of the company’s stock worth $1,038,000 after buying an additional 14,026 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in Alerus Financial by 35.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 15,363 shares of the company’s stock worth $346,000 after buying an additional 4,002 shares in the last quarter. Wellington Management Group LLP lifted its position in Alerus Financial by 8.6% during the 4th quarter. Wellington Management Group LLP now owns 245,497 shares of the company’s stock worth $5,529,000 after buying an additional 19,490 shares in the last quarter. Finally, Man Group plc lifted its position in Alerus Financial by 25.6% during the 4th quarter. Man Group plc now owns 64,111 shares of the company’s stock worth $1,444,000 after buying an additional 13,070 shares in the last quarter. 51.25% of the stock is owned by institutional investors.

About Alerus Financial

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.