Alerus Financial Co. (NASDAQ:ALRS) Receives $23.25 Consensus PT from Analysts

Shares of Alerus Financial Co. (NASDAQ:ALRS) have received an average recommendation of “Hold” from the five ratings firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $23.40.

Several equities research analysts recently issued reports on the company. Piper Sandler boosted their price objective on Alerus Financial from $22.50 to $24.00 and gave the company a “neutral” rating in a report on Monday, July 29th. DA Davidson increased their price target on shares of Alerus Financial from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Keefe, Bruyette & Woods lifted their price objective on shares of Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Finally, Raymond James upgraded shares of Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 target price on the stock in a report on Tuesday, September 17th.

Alerus Financial Stock Down 1.1 %

Shares of ALRS opened at $21.81 on Tuesday. The company’s 50-day moving average price is $21.66 and its 200 day moving average price is $20.59. Alerus Financial has a 12-month low of $16.80 and a 12-month high of $25.85. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. The firm has a market cap of $431.34 million, a P/E ratio of 44.51 and a beta of 0.66.

Alerus Financial (NASDAQ:ALRS) last posted 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 period in the previous year, the business posted $0.45 EPS. On average, sell-side analysts forecast that Alerus Financial will post 1.23 earnings per share for the current year.

Alerus Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 13th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, September 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.67%. Alerus Financial’s dividend payout ratio (DPR) is currently 163.27%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Los Angeles Capital Management LLC acquired a new position in Alerus Financial in the first quarter valued at approximately $1,711,000. Cetera Advisors LLC purchased a new position in shares of Alerus Financial in the 1st quarter valued at $638,000. Wealth Forward LLC acquired a new stake in Alerus Financial during the 4th quarter worth $1,242,000. CWM LLC lifted its position in Alerus Financial by 85,625.0% in the second quarter. CWM LLC now owns 58,293 shares of the company’s stock valued at $1,143,000 after acquiring an additional 58,225 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in Alerus Financial by 4,147.8% in the first quarter. Acadian Asset Management LLC now owns 26,294 shares of the company’s stock valued at $573,000 after acquiring an additional 25,675 shares in the last quarter. 51.25% of the stock is owned by institutional investors and hedge funds.

About Alerus Financial

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.