Alerus Financial Co. (NASDAQ:ALRS) Forecasted to Post Q3 2024 Earnings of $0.46 Per Share

Alerus Financial Co. (NASDAQ:ALRS) – Equities researchers at DA Davidson issued their Q3 2024 earnings estimates for shares of Alerus Financial in a research note issued on Thursday, August 1st. DA Davidson analyst J. Rulis expects that the company will post earnings of $0.46 per share for the quarter. DA Davidson has a “Neutral” rating and a $23.00 price objective on the stock. The consensus estimate for Alerus Financial’s current full-year earnings is $1.20 per share. DA Davidson also issued estimates for Alerus Financial’s FY2025 earnings at $2.05 EPS.

Alerus Financial (NASDAQ:ALRS) last posted its earnings results on Wednesday, July 24th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.06). Alerus Financial had a return on equity of 7.30% and a net margin of 2.39%. The firm had revenue of $80.39 million for the quarter, compared to analysts’ expectations of $49.20 million. During the same period in the previous year, the company earned $0.45 earnings per share.

A number of other equities research analysts have also issued reports on ALRS. Keefe, Bruyette & Woods upped their target price on shares of Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Hovde Group raised shares of Alerus Financial from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $21.00 to $23.00 in a research note on Thursday, May 16th. Finally, Piper Sandler upped their price target on Alerus Financial from $22.50 to $24.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $23.25.

Alerus Financial Price Performance

Shares of NASDAQ ALRS opened at $20.91 on Friday. The firm has a fifty day moving average of $19.85 and a 200 day moving average of $20.77. Alerus Financial has a one year low of $16.80 and a one year high of $25.85. The firm has a market cap of $413.54 million, a PE ratio of 42.67 and a beta of 0.66. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.86.

Alerus Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 14th were given a $0.20 dividend. This is an increase from Alerus Financial’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.80 annualized dividend and a dividend yield of 3.83%. Alerus Financial’s dividend payout ratio is presently 163.27%.

Institutional Investors Weigh In On Alerus Financial

Large investors have recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC bought a new position in Alerus Financial during the 4th quarter worth $81,000. SG Americas Securities LLC lifted its position in shares of Alerus Financial by 25.3% in the 4th quarter. SG Americas Securities LLC now owns 9,784 shares of the company’s stock valued at $219,000 after acquiring an additional 1,974 shares in the last quarter. Harbor Advisors LLC purchased a new position in Alerus Financial during the fourth quarter valued at approximately $221,000. Bailard Inc. purchased a new stake in shares of Alerus Financial during the 2nd quarter worth about $265,000. Finally, Acadian Asset Management LLC raised its holdings in shares of Alerus Financial by 4,147.8% during the 1st quarter. Acadian Asset Management LLC now owns 26,294 shares of the company’s stock valued at $573,000 after purchasing an additional 25,675 shares in the last quarter. 51.25% of the stock is owned by institutional investors and hedge funds.

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.