Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Alerus Financial (NASDAQ:ALRS) Stock

Alerus Financial (NASDAQ:ALRS) had its price objective upped by Keefe, Bruyette & Woods from $22.00 to $23.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a market perform rating on the stock.

Several other analysts have also recently issued reports on ALRS. Raymond James raised shares of Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a research note on Tuesday, September 17th. Piper Sandler dropped their price objective 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. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $23.20.

Alerus Financial Stock Up 0.1 %

ALRS stock opened at $21.83 on Wednesday. The stock has a market capitalization of $553.17 million, a P/E ratio of 137.45 and a beta of 0.69. The firm has a 50-day simple moving average of $22.43 and a 200-day simple moving average of $21.19. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15. Alerus Financial has a 52 week low of $18.09 and a 52 week high of $25.85.

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

Institutional Trading of Alerus Financial

Several hedge funds have recently made changes to their positions in ALRS. Federated Hermes Inc. grew its stake in shares of Alerus Financial by 380.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,519 shares of the company’s stock valued at $30,000 after buying an additional 1,203 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Alerus Financial in the 3rd quarter valued at approximately $142,000. Harbor Advisors LLC purchased a new stake in shares of Alerus Financial in the 3rd quarter valued at approximately $226,000. Bailard Inc. purchased a new stake in shares of Alerus Financial in the 2nd quarter valued at approximately $265,000. Finally, Inspire Investing LLC purchased a new stake in shares of Alerus Financial in the 3rd quarter valued at approximately $417,000. Hedge funds and other institutional investors own 51.25% of the company’s stock.

About Alerus Financial

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.