Alerus Financial Co. (NASDAQ:ALRS) Receives Average Recommendation of “Hold” from Brokerages

Alerus Financial Co. (NASDAQ:ALRS) has earned a consensus recommendation of “Hold” from the five brokerages that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $23.20.

Several analysts recently weighed in on the company. Raymond James raised Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price objective on the stock in a research note on Tuesday, September 17th. Piper Sandler decreased their price target on shares of Alerus Financial from $24.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st.

Institutional Trading of Alerus Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC raised its holdings in Alerus Financial by 58.8% in the 3rd quarter. Barclays PLC now owns 44,399 shares of the company’s stock valued at $1,017,000 after buying an additional 16,436 shares during the last quarter. Geode Capital Management LLC increased its position in Alerus Financial by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 416,072 shares of the company’s stock valued at $9,522,000 after acquiring an additional 15,966 shares during the period. Zacks Investment Management raised its stake in shares of Alerus Financial by 7.2% during the third quarter. Zacks Investment Management now owns 102,713 shares of the company’s stock valued at $2,350,000 after acquiring an additional 6,903 shares during the last quarter. State Street Corp lifted its holdings in shares of Alerus Financial by 1.0% during the third quarter. State Street Corp now owns 351,775 shares of the company’s stock worth $8,118,000 after purchasing an additional 3,623 shares during the period. Finally, Harbor Advisors LLC bought a new stake in shares of Alerus Financial in the third quarter worth $226,000. 51.25% of the stock is currently owned by institutional investors.

Alerus Financial Price Performance

Shares of NASDAQ:ALRS opened at $22.04 on Friday. 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 $558.49 million, a PE ratio of 137.76 and a beta of 0.68. The firm has a 50 day moving average of $22.43 and a 200-day moving average of $21.15. Alerus Financial has a 12 month low of $18.09 and a 12 month high of $25.85.

Alerus Financial (NASDAQ:ALRS) last released its earnings results on Tuesday, October 29th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.18). The business had revenue of $80.58 million for the quarter, compared to the consensus estimate of $52.30 million. Alerus Financial had a return on equity of 6.02% and a net margin of 1.01%. During the same quarter in the previous year, the company earned $0.45 earnings per share. On average, equities research analysts predict that Alerus Financial will post 0.97 EPS for the current fiscal year.

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.