Alerus Financial (NASDAQ:ALRS – Get Free Report) had its target price increased by Piper Sandler from $22.50 to $24.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price target indicates a potential upside of 8.30% from the company’s previous close.
Separately, Hovde Group upgraded Alerus Financial from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $21.00 to $23.00 in a research report on Thursday, May 16th.
View Our Latest Report on Alerus Financial
Alerus Financial Trading Up 0.3 %
Alerus Financial (NASDAQ:ALRS – Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.06). Alerus Financial had a return on equity of 7.30% and a net margin of 2.39%. The firm had revenue of $80.39 million during the quarter, compared to analyst estimates of $49.20 million. During the same quarter in the prior year, the firm earned $0.45 EPS. On average, equities research analysts predict that Alerus Financial will post 1.37 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Alerus Financial
Institutional investors have recently modified their holdings of the company. Bailard Inc. bought a new position in Alerus Financial in the 2nd quarter worth about $265,000. Bank of New York Mellon Corp grew its holdings in Alerus Financial by 4.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 123,512 shares of the company’s stock worth $2,422,000 after buying an additional 5,323 shares in the last quarter. CWM LLC raised its stake in Alerus Financial by 85,625.0% during the 2nd 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 in the last quarter. Cetera Advisors LLC acquired a new position in Alerus Financial during the 1st quarter worth $638,000. Finally, Acadian Asset Management LLC grew its stake in shares of Alerus Financial by 4,147.8% in the first quarter. Acadian Asset Management LLC now owns 26,294 shares of the company’s stock worth $573,000 after purchasing an additional 25,675 shares in the last quarter. Institutional investors own 51.25% of the company’s stock.
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.
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