Alerus Financial Co. (NASDAQ:ALRS) Receives $23.20 Consensus PT from Analysts

Shares of Alerus Financial Co. (NASDAQ:ALRS) have earned a consensus recommendation of “Hold” from the five analysts that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $23.20.

A number of equities analysts have commented on the stock. Piper Sandler decreased their price objective on shares of Alerus Financial from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Raymond James raised shares of Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a report 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 stock a “market perform” rating in a report on Monday, July 29th. Finally, DA Davidson lifted their price objective on shares of Alerus Financial from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st.

Alerus Financial Stock Up 0.1 %

NASDAQ:ALRS opened at $23.19 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $587.63 million, a price-to-earnings ratio of 144.95 and a beta of 0.68. Alerus Financial has a one year low of $17.50 and a one year high of $25.85. The stock has a 50-day simple moving average of $22.34 and a 200 day simple moving average of $20.99.

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 firm had revenue of $80.58 million during the quarter, compared to the consensus estimate 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 last year, the firm posted $0.45 earnings per share. Sell-side analysts predict that Alerus Financial will post 0.97 EPS for the current fiscal year.

Alerus Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 13th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend was Friday, September 13th. Alerus Financial’s dividend payout ratio (DPR) is 500.03%.

Hedge Funds Weigh In On Alerus Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its position in Alerus Financial by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 149,280 shares of the company’s stock valued at $3,416,000 after buying an additional 5,184 shares in the last quarter. Foundry Partners LLC bought a new position in Alerus Financial in the 3rd quarter valued at about $530,000. Stieven Capital Advisors L.P. bought a new position in Alerus Financial in the 3rd quarter valued at about $5,966,000. Empowered Funds LLC grew its position in Alerus Financial by 5.1% in the 3rd quarter. Empowered Funds LLC now owns 46,937 shares of the company’s stock valued at $1,074,000 after buying an additional 2,278 shares in the last quarter. Finally, Sippican Capital Advisors grew its position in Alerus Financial by 4.8% in the 3rd quarter. Sippican Capital Advisors now owns 80,525 shares of the company’s stock valued at $1,842,000 after buying an additional 3,665 shares in the last quarter. Institutional investors 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.