Alerus Financial (NASDAQ:ALRS) Raised to “Outperform” at Raymond James

Raymond James upgraded shares of Alerus Financial (NASDAQ:ALRS) from a market perform rating to an outperform rating in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. Raymond James currently has $24.00 price objective on the stock.

ALRS has been the topic of a number of other reports. Piper Sandler raised 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. Keefe, Bruyette & Woods raised their price target on shares of Alerus Financial from $22.00 to $23.00 and gave the company a market perform rating in a report on Monday, July 29th. Finally, DA Davidson raised their price target on shares of Alerus Financial from $20.00 to $23.00 and gave the company a neutral rating in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $23.40.

Alerus Financial Trading Up 1.7 %

NASDAQ ALRS opened at $21.94 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market capitalization of $433.91 million, a price-to-earnings ratio of 44.78 and a beta of 0.66. The company’s 50-day simple moving average is $21.45 and its two-hundred day simple moving average is $20.58. Alerus Financial has a one year low of $16.80 and a one year high of $25.85.

Alerus Financial (NASDAQ:ALRS) last posted its earnings results on Wednesday, July 24th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.06). The business had revenue of $80.39 million for the quarter, compared to analysts’ expectations of $49.20 million. Alerus Financial had a net margin of 2.39% and a return on equity of 7.25%. During the same period last year, the business posted $0.45 EPS. Equities analysts forecast that Alerus Financial will post 1.23 EPS for the current fiscal year.

Alerus Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 13th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date is Friday, September 13th. Alerus Financial’s dividend payout ratio (DPR) is presently 163.27%.

Institutional Trading of Alerus Financial

Institutional investors have recently bought and sold shares of the stock. Los Angeles Capital Management LLC acquired a new stake in Alerus Financial during the 1st quarter valued at approximately $1,711,000. Endeavour Capital Advisors Inc. lifted its stake in Alerus Financial by 34.0% during the 2nd quarter. Endeavour Capital Advisors Inc. now owns 288,876 shares of the company’s stock valued at $5,665,000 after acquiring an additional 73,342 shares during the period. CWM LLC lifted 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 during the period. Wealth Forward LLC acquired a new stake in Alerus Financial during the 4th quarter valued at approximately $1,242,000. Finally, Squarepoint Ops LLC lifted its stake in Alerus Financial by 191.1% during the 2nd quarter. Squarepoint Ops LLC now owns 46,839 shares of the company’s stock valued at $919,000 after acquiring an additional 30,750 shares during the period. 51.25% of the stock is currently owned by institutional investors and hedge funds.

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.