FY2024 EPS Forecast for Alerus Financial Reduced by Analyst

Alerus Financial Co. (NASDAQ:ALRS) – Investment analysts at DA Davidson lowered their FY2024 earnings estimates for shares of Alerus Financial in a research note issued on Thursday, October 31st. DA Davidson analyst J. Rulis now forecasts that the company will earn $0.93 per share for the year, down from their previous estimate of $1.20. DA Davidson currently has a “Neutral” rating and a $23.00 target price on the stock. The consensus estimate for Alerus Financial’s current full-year earnings is $1.14 per share. DA Davidson also issued estimates for Alerus Financial’s FY2025 earnings at $1.90 EPS.

Alerus Financial (NASDAQ:ALRS) last announced its earnings results on Tuesday, October 29th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.18). The company had revenue of $80.58 million for 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 6.08%. During the same period last year, the business posted $0.45 EPS.

Several other research analysts have also commented on ALRS. Piper Sandler reduced their price objective on shares of Alerus Financial from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday. Raymond James raised Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price target for the company in a report on Tuesday, September 17th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Alerus Financial currently has an average rating of “Hold” and a consensus target price of $23.20.

Alerus Financial Price Performance

ALRS opened at $20.12 on Monday. The firm has a market capitalization of $397.97 million, a PE ratio of 125.76 and a beta of 0.68. The business’s 50-day moving average is $22.37 and its two-hundred day moving average is $20.91. Alerus Financial has a 1 year low of $17.35 and a 1 year high of $25.85. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.86 and a quick ratio of 0.85.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Cetera Advisors LLC acquired a new stake in shares of Alerus Financial during the first quarter worth about $638,000. CWM LLC lifted its stake in Alerus Financial by 85,625.0% during the 2nd quarter. CWM LLC now owns 58,293 shares of the company’s stock valued at $1,143,000 after acquiring an additional 58,225 shares during the period. Acadian Asset Management LLC lifted its stake in Alerus Financial by 4,147.8% during the 1st quarter. Acadian Asset Management LLC now owns 26,294 shares of the company’s stock valued at $573,000 after acquiring an additional 25,675 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of Alerus Financial by 191.1% in the 2nd quarter. Squarepoint Ops LLC now owns 46,839 shares of the company’s stock valued at $919,000 after acquiring an additional 30,750 shares during the last quarter. Finally, Bailard Inc. acquired a new stake in shares of Alerus Financial in the second quarter worth $265,000. 51.25% of the stock is owned by institutional investors and hedge funds.

Alerus Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 13th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, September 13th. This represents a $0.80 annualized dividend and a yield of 3.98%. Alerus Financial’s payout ratio is presently 500.03%.

Alerus Financial Company Profile

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.