Alerus Financial Co. (NASDAQ:ALRS) Receives $23.20 Consensus Price Target from Brokerages

Shares of Alerus Financial Co. (NASDAQ:ALRS) have received a consensus rating of “Hold” from the five analysts that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $23.20.

Several equities analysts have commented on ALRS shares. Keefe, Bruyette & Woods upped their price target on Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Raymond James raised Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 target price for the company in a research report on Tuesday, September 17th. Finally, Piper Sandler dropped their price objective on shares of Alerus Financial from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st.

Hedge Funds Weigh In On Alerus Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of Alerus Financial by 58.8% in the third quarter. Barclays PLC now owns 44,399 shares of the company’s stock valued at $1,017,000 after acquiring an additional 16,436 shares during the last quarter. Stieven Capital Advisors L.P. acquired a new stake in Alerus Financial during the 3rd quarter valued at $5,966,000. Squarepoint Ops LLC raised its position 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. Foundry Partners LLC acquired a new position in Alerus Financial in the third quarter worth $530,000. Finally, Inspire Investing LLC bought a new stake in shares of Alerus Financial during the third quarter worth $417,000. 51.25% of the stock is currently owned by institutional investors and hedge funds.

Alerus Financial Stock Up 1.1 %

ALRS opened at $19.24 on Thursday. Alerus Financial has a 1-year low of $18.09 and a 1-year high of $25.85. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $487.50 million, a price-to-earnings ratio of 120.26 and a beta of 0.69. The business has a 50 day moving average of $21.48 and a 200-day moving average of $21.41.

Alerus Financial (NASDAQ:ALRS) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.18). Alerus Financial had a return on equity of 6.02% and a net margin of 1.01%. The company had revenue of $80.58 million for the quarter, compared to the consensus estimate of $52.30 million. During the same quarter in the previous year, the firm posted $0.45 EPS. As a group, sell-side analysts anticipate that Alerus Financial will post 0.97 earnings per share for the current year.

Alerus Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, December 27th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend is Friday, December 27th. Alerus Financial’s dividend payout ratio (DPR) is currently 500.00%.

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.