Brokerages Set Alerus Financial Co. (NASDAQ:ALRS) Price Target at $23.40

Shares of Alerus Financial Co. (NASDAQ:ALRS) have been assigned an average recommendation of “Hold” from the five ratings firms that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $23.40.

ALRS has been the topic of a number of analyst reports. Piper Sandler lifted their price objective on shares of Alerus Financial from $22.50 to $24.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods upped their price target on Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Raymond James raised Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a research report on Tuesday, September 17th. Finally, DA Davidson upped their target price on Alerus Financial from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st.

Alerus Financial Stock Up 1.8 %

Alerus Financial stock opened at $24.15 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.16. The firm has a market cap of $477.61 million, a P/E ratio of 49.29 and a beta of 0.66. The business has a fifty day moving average of $22.01 and a two-hundred day moving average of $20.72. Alerus Financial has a twelve month low of $16.80 and a twelve month high of $25.85.

Alerus Financial (NASDAQ:ALRS) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.06). The company had revenue of $80.39 million for the quarter, compared to analysts’ expectations of $49.20 million. Alerus Financial had a return on equity of 7.25% and a net margin of 2.39%. During the same quarter last year, the company earned $0.45 earnings per share. On average, analysts forecast that Alerus Financial will post 1.21 earnings per share for the current fiscal year.

Alerus Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 13th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.80 annualized dividend and a yield of 3.31%. Alerus Financial’s dividend payout ratio is presently 163.27%.

Hedge Funds Weigh In On Alerus Financial

Institutional investors and hedge funds have recently modified their holdings of the business. Los Angeles Capital Management LLC acquired a new stake in Alerus Financial in the 1st quarter worth about $1,711,000. Endeavour Capital Advisors Inc. boosted its stake in shares of Alerus Financial by 34.0% in the second quarter. Endeavour Capital Advisors Inc. now owns 288,876 shares of the company’s stock worth $5,665,000 after acquiring an additional 73,342 shares during the last quarter. CWM LLC boosted its stake in shares of Alerus Financial by 85,625.0% in the second quarter. CWM LLC now owns 58,293 shares of the company’s stock worth $1,143,000 after acquiring an additional 58,225 shares during the last quarter. Wealth Forward LLC purchased a new stake in shares of Alerus Financial during the fourth quarter worth approximately $1,242,000. Finally, Squarepoint Ops LLC raised its stake in Alerus Financial by 191.1% in the 2nd quarter. Squarepoint Ops LLC now owns 46,839 shares of the company’s stock valued at $919,000 after purchasing an additional 30,750 shares during the last quarter. Hedge funds and other institutional investors 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.