Alerus Financial (NASDAQ:ALRS) Receives Average Recommendation of “Hold” from Analysts

Alerus Financial (NASDAQ:ALRS) has earned an average rating of “Hold” from the six brokerages that are currently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $25.00.

Several analysts have recently weighed in on ALRS shares. Zacks Research cut shares of Alerus Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Piper Sandler decreased their price target on shares of Alerus Financial from $25.50 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Alerus Financial in a report on Monday. Finally, Keefe, Bruyette & Woods cut their price target on Alerus Financial from $25.00 to $24.00 and set a “market perform” rating on the stock in a research note on Monday, November 3rd.

Institutional Trading of Alerus Financial

Several hedge funds have recently modified their holdings of ALRS. CIBC Private Wealth Group LLC acquired a new stake in Alerus Financial in the third quarter valued at $52,000. XTX Topco Ltd increased its stake in Alerus Financial by 23.0% in the third quarter. XTX Topco Ltd now owns 23,999 shares of the company’s stock valued at $531,000 after purchasing an additional 4,489 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of Alerus Financial by 140.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 110,168 shares of the company’s stock worth $2,439,000 after acquiring an additional 64,425 shares during the period. Numerai GP LLC acquired a new position in shares of Alerus Financial in the 3rd quarter valued at $205,000. Finally, Mariner LLC grew its position in Alerus Financial by 15.2% during the third quarter. Mariner LLC now owns 29,792 shares of the company’s stock valued at $660,000 after acquiring an additional 3,939 shares during the period. 51.25% of the stock is owned by institutional investors and hedge funds.

Alerus Financial Stock Performance

Shares of ALRS stock opened at $23.46 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. Alerus Financial has a 52-week low of $15.78 and a 52-week high of $24.33. The business has a 50-day simple moving average of $21.69 and a 200-day simple moving average of $21.88. The stock has a market cap of $595.88 million, a PE ratio of 11.28 and a beta of 0.70.

Alerus Financial (NASDAQ:ALRS) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.07. Alerus Financial had a return on equity of 11.63% and a net margin of 13.45%.The firm had revenue of $72.57 million during the quarter, compared to analyst estimates of $71.41 million. On average, equities analysts expect that Alerus Financial will post 2.14 EPS for the current year.

Alerus Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, December 26th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, December 26th. Alerus Financial’s dividend payout ratio (DPR) is presently 40.38%.

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.