Alerus Financial Co. (NASDAQ:ALRS) Given Consensus Rating of “Hold” by Analysts

Alerus Financial Co. (NASDAQ:ALRS) has been assigned an average rating of “Hold” from the five brokerages that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $23.20.

A number of research firms have issued reports on ALRS. Raymond James upgraded Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 target price for the company in a report on Tuesday, September 17th. DA Davidson increased their price objective on Alerus Financial from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Keefe, Bruyette & Woods boosted their target price 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. Finally, Piper Sandler decreased their price target on shares of Alerus Financial from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st.

Alerus Financial Price Performance

Shares of ALRS opened at $22.68 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $574.67 million, a PE ratio of 141.75 and a beta of 0.68. The stock has a 50 day simple moving average of $22.30 and a 200 day simple moving average of $20.95. Alerus Financial has a 52-week low of $17.35 and a 52-week high of $25.85.

Alerus Financial (NASDAQ:ALRS) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.18). Alerus Financial had a net margin of 1.01% and a return on equity of 6.02%. The company had revenue of $80.58 million during the quarter, compared to analyst estimates of $52.30 million. During the same quarter last year, the company earned $0.45 EPS. Sell-side analysts predict that Alerus Financial will post 0.97 EPS for the current fiscal year.

Alerus Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 13th were given a dividend of $0.20 per share. The ex-dividend date was Friday, September 13th. This represents a $0.80 annualized dividend and a yield of 3.53%. Alerus Financial’s dividend payout ratio (DPR) is presently 500.00%.

Institutional Investors Weigh In On Alerus Financial

Large investors have recently made changes to their positions in the stock. Foundry Partners LLC acquired a new position in Alerus Financial during the third quarter worth $530,000. Stieven Capital Advisors L.P. acquired a new position in shares of Alerus Financial during the 3rd quarter worth about $5,966,000. Empowered Funds LLC raised its holdings in shares of Alerus Financial by 5.1% in the 3rd quarter. Empowered Funds LLC now owns 46,937 shares of the company’s stock valued at $1,074,000 after purchasing an additional 2,278 shares during the period. Sippican Capital Advisors lifted its stake in Alerus Financial by 4.8% in the 3rd quarter. Sippican Capital Advisors now owns 80,525 shares of the company’s stock valued at $1,842,000 after purchasing an additional 3,665 shares during the last quarter. Finally, Inspire Investing LLC acquired a new position in Alerus Financial during the third quarter worth approximately $417,000. 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.