Alerus Financial (NASDAQ:ALRS) Earns Outperform Rating from Analysts at Raymond James

Raymond James initiated coverage on shares of Alerus Financial (NASDAQ:ALRS) in a research note issued to investors on Tuesday morning. The brokerage issued an outperform rating and a $22.00 target price on the stock.

Several other brokerages have also commented on ALRS. Piper Sandler decreased their price target on Alerus Financial from $24.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Keefe, Bruyette & Woods upped their target price on Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $22.80.

Alerus Financial Stock Down 0.6 %

ALRS stock opened at $19.38 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.85 and a quick ratio of 0.85. Alerus Financial has a 12 month low of $17.99 and a 12 month high of $25.85. The company has a fifty day moving average price of $20.92 and a 200 day moving average price of $21.44. The company has a market cap of $491.09 million, a price-to-earnings ratio of 121.13 and a beta of 0.71.

Alerus Financial (NASDAQ:ALRS) last posted its quarterly earnings data 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 analysts’ expectations 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 business earned $0.45 earnings per share. Sell-side analysts expect that Alerus Financial will post 0.92 earnings per share for the current year.

Alerus Financial Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend is Friday, December 27th. Alerus Financial’s dividend payout ratio is presently 500.03%.

Institutional Trading of Alerus Financial

Several large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in shares of Alerus Financial by 207.4% during the third quarter. JPMorgan Chase & Co. now owns 24,214 shares of the company’s stock worth $554,000 after acquiring an additional 16,336 shares during the last quarter. Barclays PLC boosted its position in shares of Alerus Financial by 58.8% during the third quarter. Barclays PLC now owns 44,399 shares of the company’s stock worth $1,017,000 after buying an additional 16,436 shares during the period. Geode Capital Management LLC grew its stake in shares of Alerus Financial by 4.0% in the third quarter. Geode Capital Management LLC now owns 416,072 shares of the company’s stock worth $9,522,000 after purchasing an additional 15,966 shares in the last quarter. Zacks Investment Management increased its stake in Alerus Financial by 7.2% during the 3rd quarter. Zacks Investment Management now owns 102,713 shares of the company’s stock valued at $2,350,000 after buying an additional 6,903 shares during the period. Finally, State Street Corp raised its holdings in Alerus Financial by 1.0% during the third quarter. State Street Corp now owns 351,775 shares of the company’s stock worth $8,118,000 after purchasing an additional 3,623 shares in the last quarter. Institutional investors and hedge funds 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.