Alerus Financial (NASDAQ:ALRS) Now Covered by Analysts at Raymond James

Investment analysts at Raymond James assumed coverage on shares of Alerus Financial (NASDAQ:ALRS) in a note issued to investors on Tuesday. The firm set an “outperform” rating and a $22.00 price target on the stock. Raymond James’ price objective points to a potential upside of 14.46% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Keefe, Bruyette & Woods increased their price objective on Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler lowered their target price on Alerus Financial from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $22.80.

Alerus Financial Stock Up 2.8 %

Shares of ALRS stock traded up $0.52 on Tuesday, hitting $19.22. The stock had a trading volume of 18,743 shares, compared to its average volume of 72,658. The company has a market cap of $487.00 million, a PE ratio of 120.13 and a beta of 0.71. 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 business has a 50 day moving average price of $21.00 and a 200 day moving average price of $21.46. Alerus Financial has a one year low of $17.99 and a one year high of $25.85.

Alerus Financial (NASDAQ:ALRS) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.18). The business had revenue of $80.58 million for the quarter, compared to analysts’ expectations 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 previous year, the firm posted $0.45 EPS. Research analysts anticipate that Alerus Financial will post 0.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alerus Financial

Several institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its holdings in Alerus Financial by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 123,512 shares of the company’s stock valued at $2,422,000 after purchasing an additional 5,323 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Alerus Financial by 380.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,519 shares of the company’s stock worth $30,000 after purchasing an additional 1,203 shares during the period. Dimensional Fund Advisors LP increased its position in Alerus Financial by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 274,615 shares of the company’s stock valued at $5,384,000 after acquiring an additional 7,300 shares during the period. Hsbc Holdings PLC increased its position in Alerus Financial by 58.8% in the 2nd quarter. Hsbc Holdings PLC now owns 38,564 shares of the company’s stock valued at $727,000 after acquiring an additional 14,273 shares during the period. Finally, Squarepoint Ops LLC increased its position in Alerus Financial by 191.1% in the 2nd quarter. Squarepoint Ops LLC now owns 46,839 shares of the company’s stock valued at $919,000 after acquiring an additional 30,750 shares during the period. 51.25% of the stock is currently owned by institutional investors and hedge funds.

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.