Alerus Financial Co. (NASDAQ:ALRS) Given Average Rating of “Hold” by Analysts

Alerus Financial Co. (NASDAQ:ALRS) has received an average rating of “Hold” from the five ratings firms that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $23.20.

A number of analysts have recently issued reports on ALRS shares. 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 research note on Tuesday, September 17th. Keefe, Bruyette & Woods lifted their price objective on shares of Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. DA Davidson lifted their price objective on shares of Alerus Financial from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, Piper Sandler dropped their price target 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.

Alerus Financial Stock Up 4.1 %

ALRS opened at $20.91 on Wednesday. The firm has a 50 day moving average price of $22.33 and a 200 day moving average price of $20.92. The company has a market cap of $529.86 million, a PE ratio of 130.70 and a beta of 0.68. Alerus Financial has a 1 year low of $17.35 and a 1 year high of $25.85. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.85 and a current ratio of 0.85.

Alerus Financial (NASDAQ:ALRS) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations 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 in the prior year, the business earned $0.45 EPS. Sell-side analysts expect that Alerus Financial will post 0.97 earnings per share for the current year.

Alerus Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 13th were paid 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

A number of hedge funds have recently added to or reduced their stakes in ALRS. Endeavour Capital Advisors Inc. boosted its holdings in Alerus Financial by 34.0% in the second quarter. Endeavour Capital Advisors Inc. now owns 288,876 shares of the company’s stock worth $5,665,000 after purchasing an additional 73,342 shares during the period. CWM LLC boosted its holdings in Alerus Financial by 85,625.0% in the second quarter. CWM LLC now owns 58,293 shares of the company’s stock worth $1,143,000 after purchasing an additional 58,225 shares during the period. Squarepoint Ops LLC boosted its holdings in Alerus Financial by 191.1% in 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 during the period. Cetera Advisors LLC acquired a new position in Alerus Financial in the first quarter worth $638,000. Finally, Acadian Asset Management LLC boosted its holdings in Alerus Financial by 4,147.8% in the first quarter. Acadian Asset Management LLC now owns 26,294 shares of the company’s stock worth $573,000 after purchasing an additional 25,675 shares during the period. Institutional investors and hedge funds 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.