Alerus Financial (NASDAQ:ALRS) Price Target Raised to $27.00 at Keefe, Bruyette & Woods

Alerus Financial (NASDAQ:ALRS) had its price target increased by Keefe, Bruyette & Woods from $25.00 to $27.00 in a research report sent to investors on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

ALRS has been the subject of a number of other reports. Hovde Group lowered Alerus Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 7th. DA Davidson lifted their price objective on Alerus Financial from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Raymond James Financial set a $29.00 price objective on Alerus Financial and gave the stock a “strong-buy” rating in a research report on Friday, January 30th. Piper Sandler lifted their price objective on Alerus Financial from $28.00 to $28.50 and gave the stock a “neutral” rating in a research report on Friday. Finally, Zacks Research lowered Alerus Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $28.38.

Alerus Financial Price Performance

Shares of NASDAQ:ALRS traded up $0.01 during midday trading on Friday, reaching $26.95. The company’s stock had a trading volume of 205,129 shares, compared to its average volume of 137,591. Alerus Financial has a fifty-two week low of $20.08 and a fifty-two week high of $27.60. The company has a market capitalization of $688.84 million, a P/E ratio of 26.17 and a beta of 0.67. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.89. The business’s fifty day simple moving average is $24.52 and its 200-day simple moving average is $23.41.

Alerus Financial (NASDAQ:ALRS) last announced its earnings results on Wednesday, April 29th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.31. Alerus Financial had a return on equity of 14.56% and a net margin of 6.74%.The company had revenue of $75.78 million during the quarter, compared to analyst estimates of $73.78 million. As a group, equities research analysts expect that Alerus Financial will post 2.52 EPS for the current fiscal year.

Alerus Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Friday, March 27th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Friday, March 27th. Alerus Financial’s dividend payout ratio (DPR) is presently 127.27%.

Institutional Trading of Alerus Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALRS. Larson Financial Group LLC boosted its holdings in Alerus Financial by 50.0% during the fourth quarter. Larson Financial Group LLC now owns 1,500 shares of the company’s stock worth $34,000 after buying an additional 500 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Alerus Financial by 90.1% during the second quarter. NewEdge Advisors LLC now owns 1,544 shares of the company’s stock worth $33,000 after buying an additional 732 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Alerus Financial by 25.7% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,222 shares of the company’s stock worth $50,000 after buying an additional 455 shares during the last quarter. CIBC Private Wealth Group LLC bought a new position in Alerus Financial during the third quarter worth about $52,000. Finally, AlphaQuest LLC bought a new position in Alerus Financial during the third quarter worth about $59,000. 51.25% of the stock is currently owned by institutional investors and hedge funds.

Alerus Financial Company Profile

Alerus Financial Corporation (NASDAQ: ALRS) is a diversified financial services company headquartered in Grand Forks, North Dakota. The firm provides a full range of commercial and consumer banking products, including deposit accounts, lending solutions and treasury management services for individuals, small businesses and larger corporate clients. Through its community banking network, Alerus emphasizes local decision-making and personalized service to meet the needs of its varied client base.

In addition to traditional banking offerings, Alerus operates a national mortgage origination and servicing platform that delivers home purchase and refinance loans.