Analysts Set Alerus Financial Co. (NASDAQ:ALRS) Target Price at $23.20

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

A number of brokerages recently commented on ALRS. Keefe, Bruyette & Woods increased their price target on Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a report on Wednesday. Piper Sandler reduced their price objective on shares of Alerus Financial from $24.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Raymond James upgraded Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price target for the company in a report on Tuesday, September 17th.

Institutional Trading of Alerus Financial

Hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. grew its holdings in Alerus Financial by 380.7% in 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 in the last quarter. SG Americas Securities LLC bought a new stake in shares of Alerus Financial during the third quarter valued at about $142,000. Harbor Advisors LLC acquired a new stake in Alerus Financial in the third quarter worth about $226,000. Bailard Inc. bought a new position in Alerus Financial in the 2nd quarter valued at about $265,000. Finally, Inspire Investing LLC acquired a new position in Alerus Financial during the 3rd quarter valued at about $417,000. 51.25% of the stock is currently owned by institutional investors.

Alerus Financial Stock Up 0.2 %

NASDAQ ALRS opened at $21.87 on Friday. The stock has a market cap of $554.19 million, a PE ratio of 136.45 and a beta of 0.69. The business has a 50 day moving average price of $22.43 and a two-hundred day moving average price of $21.20. 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 fifty-two week low of $18.09 and a fifty-two week high of $25.85.

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

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.