Analysts Set Alerus Financial Co. (NASDAQ:ALRS) PT at $23.20

Shares of Alerus Financial Co. (NASDAQ:ALRS) have earned a consensus recommendation of “Hold” from the five ratings firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $23.20.

ALRS has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods increased their price target on Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler lowered their target price on Alerus Financial from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, Raymond James raised Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price target on the stock in a research note on Tuesday, September 17th.

Alerus Financial Stock Performance

Shares of ALRS stock opened at $19.22 on Thursday. The firm has a market capitalization of $487.00 million, a price-to-earnings ratio of 120.13 and a beta of 0.69. 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 business’s 50-day moving average price is $21.74 and its 200-day moving average price is $21.40. Alerus Financial has a 12 month low of $18.09 and a 12 month high of $25.85.

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 return on equity of 6.02% and a net margin of 1.01%. During the same period in the prior year, the business earned $0.45 earnings per share. Equities research analysts forecast that Alerus Financial will post 0.97 EPS for the current year.

Alerus Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, December 27th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend is Friday, December 27th. Alerus Financial’s dividend payout ratio (DPR) is presently 500.00%.

Hedge Funds Weigh In On Alerus Financial

A number of hedge funds have recently bought and sold shares of the company. Stieven Capital Advisors L.P. purchased a new stake in shares of Alerus Financial in the third quarter valued at about $5,966,000. Endeavour Capital Advisors Inc. increased its stake in Alerus Financial by 34.0% in the 2nd quarter. Endeavour Capital Advisors Inc. now owns 288,876 shares of the company’s stock valued at $5,665,000 after buying an additional 73,342 shares during the last quarter. Squarepoint Ops LLC lifted its position in shares of Alerus Financial by 191.1% during the 2nd quarter. Squarepoint Ops LLC now owns 46,839 shares of the company’s stock worth $919,000 after buying an additional 30,750 shares in the last quarter. Foundry Partners LLC purchased a new position in shares of Alerus Financial in the 3rd quarter worth approximately $530,000. Finally, Walleye Capital LLC purchased a new position in shares of Alerus Financial in the 3rd quarter worth approximately $424,000. 51.25% of the stock is owned by hedge funds and other 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.