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

Alerus Financial (NASDAQ:ALRS) issued its earnings results on Tuesday. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.18), Yahoo Finance reports. Alerus Financial had a net margin of 2.39% and a return on equity of 7.25%. The firm had revenue of $80.58 million during the quarter, compared to analysts’ expectations of $52.30 million. During the same quarter in the prior year, the company earned $0.45 EPS.

Alerus Financial Price Performance

Shares of Alerus Financial stock opened at $20.40 on Thursday. The firm has a market cap of $403.47 million, a PE ratio of 58.29 and a beta of 0.66. The business has a 50-day moving average price of $22.44 and a 200 day moving average price of $20.91. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.16. Alerus Financial has a twelve month low of $17.07 and a twelve month high of $25.85.

Alerus Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 13th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend 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

ALRS has been the topic of several recent research reports. Raymond James raised shares of Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price objective on the stock in a report on Tuesday, September 17th. Piper Sandler upped their price target on shares of Alerus Financial from $22.50 to $24.00 and gave the company a “neutral” rating in a report on Monday, July 29th. DA Davidson lifted their price objective on Alerus Financial from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, Keefe, Bruyette & Woods raised their target price on Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Alerus Financial presently has a consensus rating of “Hold” and an average price target 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.