Alerus Financial Co. (NASDAQ:ALRS) Receives $22.80 Average PT from Analysts

Alerus Financial Co. (NASDAQ:ALRS) has received a consensus recommendation of “Hold” from the five brokerages that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $22.80.

A number of research analysts recently weighed in on ALRS shares. 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 Wednesday, December 4th. Raymond James initiated coverage on shares of Alerus Financial in a report on Tuesday, January 14th. They issued an “outperform” rating and a $22.00 price objective for the company. Finally, Piper Sandler lowered their price target on shares of Alerus Financial from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, October 31st.

Alerus Financial Price Performance

Shares of ALRS opened at $19.83 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market cap of $502.49 million, a PE ratio of 123.95 and a beta of 0.71. The firm has a 50-day simple moving average of $20.53 and a two-hundred day simple moving average of $21.49. Alerus Financial has a 1-year low of $17.99 and a 1-year high of $25.85.

Alerus Financial (NASDAQ:ALRS) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.18). The business had revenue of $80.58 million during the quarter, compared to analyst estimates of $52.30 million. Alerus Financial had a net margin of 1.01% and a return on equity of 6.02%. During the same quarter last year, the firm posted $0.45 EPS. As a group, analysts forecast that Alerus Financial will post 0.71 EPS for the current year.

Alerus Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, December 27th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.03%. The ex-dividend date was Friday, December 27th. Alerus Financial’s dividend payout ratio (DPR) is presently 500.03%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its position in shares of Alerus Financial by 380.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,519 shares of the company’s stock worth $30,000 after buying an additional 1,203 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Alerus Financial by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 274,615 shares of the company’s stock worth $5,384,000 after buying an additional 7,300 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of Alerus Financial by 58.8% during the 2nd quarter. Hsbc Holdings PLC now owns 38,564 shares of the company’s stock worth $727,000 after buying an additional 14,273 shares during the last quarter. Squarepoint Ops LLC lifted its position in shares of Alerus Financial by 191.1% during the 2nd quarter. Squarepoint Ops LLC now owns 46,839 shares of the company’s stock worth $919,000 after buying an additional 30,750 shares during the last quarter. Finally, Endeavour Capital Advisors Inc. lifted its position in shares of Alerus Financial by 34.0% during the 2nd quarter. Endeavour Capital Advisors Inc. now owns 288,876 shares of the company’s stock worth $5,665,000 after buying an additional 73,342 shares during the last quarter. Institutional investors and hedge funds 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.