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

Shares of Alerus Financial Co. (NASDAQ:ALRS) have been given a consensus rating of “Hold” by the five analysts that are 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 1 year price target among analysts that have covered the stock in the last year is $23.20.

A number of research firms have commented on ALRS. Keefe, Bruyette & Woods boosted their price objective on Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Raymond James upgraded shares of Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price target on the stock in a research report on Tuesday, September 17th. Finally, Piper Sandler lowered 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 report on Thursday, October 31st.

Hedge Funds Weigh In On Alerus Financial

Several institutional investors have recently modified their holdings of ALRS. Federated Hermes Inc. grew its holdings in Alerus Financial by 380.7% during the second quarter. Federated Hermes Inc. now owns 1,519 shares of the company’s stock valued at $30,000 after purchasing an additional 1,203 shares during the period. SG Americas Securities LLC acquired a new position in shares of Alerus Financial in the 3rd quarter valued at $142,000. Harbor Advisors LLC bought a new stake in shares of Alerus Financial in the 3rd quarter valued at $226,000. Inspire Investing LLC acquired a new stake in Alerus Financial during the 3rd quarter worth $417,000. Finally, Walleye Capital LLC bought a new position in Alerus Financial during the third quarter worth about $424,000. 51.25% of the stock is currently owned by institutional investors and hedge funds.

Alerus Financial Trading Down 0.4 %

Shares of Alerus Financial stock opened at $19.70 on Thursday. The stock has a market capitalization of $499.16 million, a P/E ratio of 123.13 and a beta of 0.69. Alerus Financial has a 12-month low of $18.09 and a 12-month high of $25.85. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15. The company has a 50-day simple moving average of $21.93 and a 200 day simple moving average of $21.39.

Alerus Financial (NASDAQ:ALRS) last posted its earnings results on Tuesday, October 29th. The company reported $0.26 earnings per share (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 the consensus estimate of $52.30 million. Alerus Financial had a net margin of 1.01% and a return on equity of 6.02%. During the same quarter last year, the firm posted $0.45 EPS. Research analysts expect that Alerus Financial will post 0.97 earnings per share for the current fiscal year.

Alerus Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, December 27th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Friday, December 27th. Alerus Financial’s payout ratio is 500.00%.

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.