Alerus Financial’s (ALRS) “Outperform” Rating Reiterated at Raymond James

Raymond James reissued their outperform rating on shares of Alerus Financial (NASDAQ:ALRS) in a research note published on Thursday,Benzinga reports. They currently have a $24.00 target price on the stock, up from their prior target price of $22.00.

Several other equities analysts have also recently weighed in on the stock. Piper Sandler increased their price objective on shares of Alerus Financial from $21.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday. Keefe, Bruyette & Woods increased their price target on shares of Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $23.40.

Alerus Financial Trading Down 1.1 %

NASDAQ:ALRS opened at $21.14 on Thursday. The company has a market cap of $535.69 million, a PE ratio of 20.73 and a beta of 0.71. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. The company has a 50 day simple moving average of $20.42 and a two-hundred day simple moving average of $21.48. Alerus Financial has a 12 month low of $17.99 and a 12 month high of $24.69.

Alerus Financial (NASDAQ:ALRS) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.28 by $0.16. Alerus Financial had a return on equity of 7.66% and a net margin of 6.26%. Research analysts forecast that Alerus Financial will post 1.96 earnings per share for the current year.

Alerus Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, December 27th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend was Friday, December 27th. Alerus Financial’s dividend payout ratio is currently 78.43%.

Institutional Trading of Alerus Financial

Institutional investors and hedge funds have recently modified their holdings of the company. New York State Common Retirement Fund increased its stake in Alerus Financial by 41.7% in the 4th quarter. New York State Common Retirement Fund now owns 6,451 shares of the company’s stock worth $124,000 after buying an additional 1,900 shares in the last quarter. SG Americas Securities LLC purchased a new position in Alerus Financial during the third quarter valued at $142,000. Harbor Advisors LLC purchased a new position in shares of Alerus Financial during the third quarter valued at about $226,000. Inspire Investing LLC increased its stake in Alerus Financial by 14.9% in the 4th quarter. Inspire Investing LLC now owns 20,947 shares of the company’s stock worth $403,000 after acquiring an additional 2,717 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in Alerus Financial in the third quarter worth $424,000. 51.25% of the stock is currently owned by 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.