FY2024 EPS Estimates for Alerus Financial Co. Lifted by DA Davidson (NASDAQ:ALRS)

Alerus Financial Co. (NASDAQ:ALRS) – Analysts at DA Davidson raised their FY2024 earnings per share (EPS) estimates for shares of Alerus Financial in a research note issued on Wednesday, May 1st. DA Davidson analyst J. Rulis now expects that the company will post earnings per share of $1.44 for the year, up from their previous forecast of $1.40. DA Davidson currently has a “Neutral” rating and a $24.00 target price on the stock. The consensus estimate for Alerus Financial’s current full-year earnings is $1.48 per share.

Separately, TheStreet downgraded Alerus Financial from a “b-” rating to a “c+” rating in a report on Wednesday, March 13th.

Alerus Financial Trading Up 0.9 %

Shares of NASDAQ ALRS opened at $19.96 on Friday. The business’s 50 day moving average price is $21.10 and its 200-day moving average price is $20.62. The company has a market cap of $394.01 million, a price-to-earnings ratio of 40.74 and a beta of 0.67. Alerus Financial has a fifty-two week low of $13.11 and a fifty-two week high of $25.85. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.83 and a current ratio of 0.83.

Alerus Financial (NASDAQ:ALRS) last issued its quarterly earnings results on Thursday, April 25th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. Alerus Financial had a return on equity of 8.20% and a net margin of 3.54%. The firm had revenue of $74.36 million for the quarter, compared to the consensus estimate of $47.40 million. During the same period in the prior year, the business posted $0.40 earnings per share.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. ICA Group Wealth Management LLC bought a new stake in Alerus Financial during the 4th quarter valued at $81,000. SG Americas Securities LLC bought a new stake in Alerus Financial during the 3rd quarter valued at $142,000. Harbor Advisors LLC bought a new stake in Alerus Financial during the 4th quarter valued at $221,000. Wealth Forward LLC bought a new stake in Alerus Financial during the 4th quarter valued at $1,242,000. Finally, Sippican Capital Advisors boosted its position in Alerus Financial by 93.6% during the 4th quarter. Sippican Capital Advisors now owns 60,205 shares of the company’s stock valued at $1,348,000 after acquiring an additional 29,115 shares in the last quarter. 51.25% of the stock is currently owned by hedge funds and other institutional investors.

Alerus Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 15th were issued a dividend of $0.19 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.76 annualized dividend and a yield of 3.81%. Alerus Financial’s payout ratio is currently 155.11%.

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.