Alerus Financial (NASDAQ:ALRS) Posts Quarterly Earnings Results, Misses Expectations By $0.18 EPS

Alerus Financial (NASDAQ:ALRS) announced its quarterly earnings results on Tuesday. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.18), Yahoo Finance reports. The company had revenue of $80.58 million during the quarter, compared to the consensus estimate of $52.30 million. Alerus Financial had a return on equity of 7.25% and a net margin of 2.39%. During the same period last year, the business posted $0.45 EPS.

Alerus Financial Stock Down 13.9 %

Shares of ALRS stock opened at $20.40 on Thursday. Alerus Financial has a 1 year low of $17.07 and a 1 year high of $25.85. The stock has a market cap of $403.47 million, a PE ratio of 58.29 and a beta of 0.66. The business’s fifty day moving average is $22.44 and its 200-day moving average is $20.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.86.

Alerus Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 13th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend was Friday, September 13th. Alerus Financial’s payout ratio is currently 228.57%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ALRS. Piper Sandler raised their price target on Alerus Financial from $22.50 to $24.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods raised their price target on Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. DA Davidson raised their price target on Alerus Financial from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, Raymond James raised Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 target price on the stock in a research note on Tuesday, September 17th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $23.40.

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.