Piper Sandler Has Lowered Expectations for Alerus Financial (NASDAQ:ALRS) Stock Price

Alerus Financial (NASDAQ:ALRS) had its price objective lowered by analysts at Piper Sandler from $24.00 to $23.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target points to a potential upside of 14.31% from the company’s current price.

Several other research firms have also issued reports on ALRS. Keefe, Bruyette & Woods raised their price objective on Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. DA Davidson increased their price target on Alerus Financial from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, Raymond James upgraded Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price target on the stock in a report on Tuesday, September 17th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $23.20.

Alerus Financial Price Performance

NASDAQ:ALRS opened at $20.12 on Thursday. The firm has a market capitalization of $397.97 million, a price-to-earnings ratio of 125.76 and a beta of 0.66. Alerus Financial has a 1 year low of $17.35 and a 1 year high of $25.85. The business has a 50 day simple moving average of $22.37 and a 200-day simple moving average of $20.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.86 and a quick ratio of 0.85.

Alerus Financial (NASDAQ:ALRS) last posted 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). The company had revenue of $80.58 million during the quarter, compared to the consensus estimate of $52.30 million. Alerus Financial had a net margin of 1.01% and a return on equity of 6.08%. During the same period in the previous year, the business earned $0.45 earnings per share. Equities analysts forecast that Alerus Financial will post 1.21 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ALRS. Endeavour Capital Advisors Inc. increased its holdings in 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 purchasing an additional 73,342 shares during the period. CWM LLC increased its holdings in Alerus Financial by 85,625.0% during the 2nd quarter. CWM LLC now owns 58,293 shares of the company’s stock worth $1,143,000 after purchasing an additional 58,225 shares during the period. Squarepoint Ops LLC increased its holdings in 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 purchasing an additional 30,750 shares during the period. Cetera Advisors LLC purchased a new position in Alerus Financial during the 1st quarter worth $638,000. Finally, Acadian Asset Management LLC increased its holdings in Alerus Financial by 4,147.8% during the 1st 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 during the period. 51.25% of the stock is currently owned by hedge funds and other institutional investors.

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.