Alerus Financial (NASDAQ:ALRS) Receives $26.00 Average Target Price from Analysts

Alerus Financial (NASDAQ:ALRS) has been given a consensus recommendation of “Moderate Buy” by the seven research firms that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $26.00.

A number of analysts have recently commented on ALRS shares. DA Davidson upped their price target on Alerus Financial from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Hovde Group downgraded shares of Alerus Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 7th. Keefe, Bruyette & Woods lifted their price target on shares of Alerus Financial from $24.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, January 30th. Piper Sandler decreased their price target on shares of Alerus Financial from $25.50 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, November 4th. Finally, Wall Street Zen raised Alerus Financial from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC raised its holdings in shares of Alerus Financial by 50.0% during the fourth quarter. Larson Financial Group LLC now owns 1,500 shares of the company’s stock worth $34,000 after acquiring an additional 500 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Alerus Financial by 4.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,420 shares of the company’s stock worth $248,000 after purchasing an additional 546 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of Alerus Financial by 1.8% in the 2nd quarter. Hsbc Holdings PLC now owns 33,576 shares of the company’s stock valued at $734,000 after purchasing an additional 586 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Alerus Financial by 5.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,696 shares of the company’s stock valued at $297,000 after purchasing an additional 608 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of Alerus Financial by 90.1% during the second quarter. NewEdge Advisors LLC now owns 1,544 shares of the company’s stock worth $33,000 after buying an additional 732 shares during the period. Institutional investors own 51.25% of the company’s stock.

Alerus Financial Stock Performance

Shares of Alerus Financial stock opened at $25.59 on Thursday. The firm has a fifty day moving average of $23.45 and a two-hundred day moving average of $22.38. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $649.99 million, a price-to-earnings ratio of 38.77 and a beta of 0.64. Alerus Financial has a 52 week low of $15.78 and a 52 week high of $26.32.

Alerus Financial (NASDAQ:ALRS) last announced its quarterly earnings data on Wednesday, January 28th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.28. The business had revenue of $77.07 million during the quarter, compared to analysts’ expectations of $71.43 million. Alerus Financial had a return on equity of 13.38% and a net margin of 4.36%. As a group, equities research analysts predict that Alerus Financial will post 2.14 EPS for the current year.

Alerus Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 26th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Friday, December 26th. Alerus Financial’s payout ratio is 127.27%.

Alerus Financial Company Profile

Alerus Financial Corporation (NASDAQ: ALRS) is a diversified financial services company headquartered in Grand Forks, North Dakota. The firm provides a full range of commercial and consumer banking products, including deposit accounts, lending solutions and treasury management services for individuals, small businesses and larger corporate clients. Through its community banking network, Alerus emphasizes local decision-making and personalized service to meet the needs of its varied client base.

In addition to traditional banking offerings, Alerus operates a national mortgage origination and servicing platform that delivers home purchase and refinance loans.