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

Alerus Financial Co. (NASDAQ:ALRS) has earned an average rating of “Hold” from the five brokerages that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $23.40.

Several analysts have recently issued reports on the stock. Raymond James reiterated an “outperform” rating and issued a $24.00 target price (up previously from $22.00) on shares of Alerus Financial in a research note on Thursday, January 30th. Piper Sandler upped their price objective on shares of Alerus Financial from $21.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Keefe, Bruyette & Woods boosted their target price 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. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $23.00 target price on shares of Alerus Financial in a report on Thursday, January 30th.

Alerus Financial Price Performance

Shares of NASDAQ ALRS opened at $18.42 on Tuesday. The stock has a market cap of $466.73 million, a price-to-earnings ratio of 18.06 and a beta of 0.74. 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 has a fifty-two week low of $17.95 and a fifty-two week high of $24.41. The firm’s 50-day simple moving average is $20.18 and its 200 day simple moving average is $21.23.

Alerus Financial (NASDAQ:ALRS) last posted its earnings results on Tuesday, January 28th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.16. Alerus Financial had a return on equity of 7.66% and a net margin of 6.26%. As a group, research analysts anticipate that Alerus Financial will post 2.14 earnings per share for the current fiscal year.

Alerus Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 14th will be issued a $0.20 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.34%. Alerus Financial’s dividend payout ratio (DPR) is presently 78.43%.

Institutional Trading of Alerus Financial

A number of large investors have recently bought and sold shares of ALRS. Legal & General Group Plc raised its position in shares of Alerus Financial by 32.7% in the fourth quarter. Legal & General Group Plc now owns 2,025 shares of the company’s stock valued at $39,000 after purchasing an additional 499 shares during the period. Summit Investment Advisors Inc. grew its stake in Alerus Financial by 31.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,349 shares of the company’s stock valued at $45,000 after buying an additional 568 shares in the last quarter. Invesco Ltd. raised its holdings in Alerus Financial by 2.2% during the 4th quarter. Invesco Ltd. now owns 33,215 shares of the company’s stock valued at $639,000 after acquiring an additional 717 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Alerus Financial by 457.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,277 shares of the company’s stock worth $25,000 after acquiring an additional 1,048 shares in the last quarter. Finally, Corebridge Financial Inc. boosted its holdings in shares of Alerus Financial by 17.1% in the fourth quarter. Corebridge Financial Inc. now owns 11,164 shares of the company’s stock worth $215,000 after acquiring an additional 1,628 shares during the period. 51.25% of the stock is owned by hedge funds and other institutional investors.

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.