FY2024 EPS Estimate for Alerus Financial Lowered by Analyst

Alerus Financial Co. (NASDAQ:ALRS) – Equities research analysts at DA Davidson cut their FY2024 earnings estimates for Alerus Financial in a report released on Thursday, October 31st. DA Davidson analyst J. Rulis now expects that the company will post earnings per share of $0.93 for the year, down from their previous forecast of $1.20. DA Davidson has a “Neutral” rating and a $23.00 price target on the stock. The consensus estimate for Alerus Financial’s current full-year earnings is $0.97 per share. DA Davidson also issued estimates for Alerus Financial’s FY2025 earnings at $1.90 EPS.

ALRS has been the subject of a number of other research reports. Piper Sandler decreased their target price 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. Keefe, Bruyette & Woods upped their target price on Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Finally, Raymond James upgraded shares of Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price objective on the stock in a report on Tuesday, September 17th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $23.20.

Alerus Financial Stock Performance

ALRS stock opened at $20.91 on Monday. Alerus Financial has a one year low of $17.35 and a one year high of $25.85. The firm has a market cap of $529.86 million, a price-to-earnings ratio of 130.70 and a beta of 0.68. 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 50-day simple moving average of $22.33 and a two-hundred day simple moving average of $20.92.

Alerus Financial (NASDAQ:ALRS) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.18). Alerus Financial had a return on equity of 6.02% and a net margin of 1.01%. The company had revenue of $80.58 million during the quarter, compared to the consensus estimate of $52.30 million. During the same period in the previous year, the firm posted $0.45 earnings per share.

Alerus Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 13th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.83%. Alerus Financial’s dividend payout ratio (DPR) is presently 500.03%.

Hedge Funds Weigh In On Alerus Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Endeavour Capital Advisors Inc. boosted its position in shares of Alerus Financial by 34.0% during the 2nd quarter. Endeavour Capital Advisors Inc. now owns 288,876 shares of the company’s stock valued at $5,665,000 after acquiring an additional 73,342 shares during the last quarter. CWM LLC raised its position in Alerus Financial by 85,625.0% in the second quarter. CWM LLC now owns 58,293 shares of the company’s stock valued at $1,143,000 after purchasing an additional 58,225 shares during the period. Squarepoint Ops LLC lifted its stake in Alerus Financial by 191.1% during the second quarter. Squarepoint Ops LLC now owns 46,839 shares of the company’s stock worth $919,000 after purchasing an additional 30,750 shares in the last quarter. Cetera Advisors LLC purchased a new position in shares of Alerus Financial during the first quarter worth $638,000. Finally, Acadian Asset Management LLC grew its stake in shares of Alerus Financial by 4,147.8% in the first quarter. Acadian Asset Management LLC now owns 26,294 shares of the company’s stock valued at $573,000 after buying an additional 25,675 shares in the last quarter. 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.