Analysts Set Alerus Financial Co. (NASDAQ:ALRS) PT at $23.20

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

ALRS has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler lowered 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. Finally, Raymond James upgraded Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a report on Tuesday, September 17th.

Institutional Trading of Alerus Financial

A number of institutional investors and hedge funds have recently made changes to their positions in ALRS. Federated Hermes Inc. lifted its holdings in Alerus Financial by 380.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,519 shares of the company’s stock worth $30,000 after purchasing an additional 1,203 shares during the last quarter. SG Americas Securities LLC acquired a new position in Alerus Financial during the third quarter valued at approximately $142,000. Harbor Advisors LLC bought a new position in shares of Alerus Financial in the third quarter valued at approximately $226,000. Inspire Investing LLC acquired a new stake in shares of Alerus Financial in the third quarter worth $417,000. Finally, Walleye Capital LLC bought a new stake in shares of Alerus Financial during the 3rd quarter worth $424,000. Institutional investors and hedge funds own 51.25% of the company’s stock.

Alerus Financial Price Performance

Shares of NASDAQ:ALRS opened at $19.24 on Thursday. The company’s fifty day moving average is $21.48 and its two-hundred day moving average is $21.41. The company has a market cap of $487.50 million, a P/E ratio of 120.26 and a beta of 0.69. Alerus Financial has a 12-month low of $18.09 and a 12-month high of $25.85. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15.

Alerus Financial (NASDAQ:ALRS) last announced 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 business had revenue of $80.58 million during the quarter, compared to analysts’ expectations of $52.30 million. During the same period in the prior year, the company posted $0.45 earnings per share. Equities analysts expect that Alerus Financial will post 0.97 earnings per share for the current fiscal year.

Alerus Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, December 27th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.16%. The ex-dividend date is Friday, December 27th. Alerus Financial’s payout ratio is 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.