Alerus Financial (NASDAQ:ALRS) Raised to Strong-Buy at Zacks Research

Alerus Financial (NASDAQ:ALRS) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday, Zacks reports.

A number of other equities analysts have also commented on the stock. Raymond James Financial reissued an “outperform” rating and issued a $37.00 price target on shares of Alerus Financial in a research report on Monday, August 3rd. DA Davidson set a $36.00 target price on shares of Alerus Financial in a research note on Friday, July 31st. Piper Sandler upgraded shares of Alerus Financial from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $37.00 to $38.00 in a report on Friday, October 2nd. Weiss Ratings raised shares of Alerus Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. Finally, Keefe, Bruyette & Woods upped their price target on shares of Alerus Financial from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Alerus Financial currently has an average rating of “Moderate Buy” and an average target price of $36.25.

Alerus Financial Stock Down 0.8%

Shares of ALRS stock opened at $34.35 on Monday. The stock’s 50 day simple moving average is $32.43 and its 200 day simple moving average is $28.89. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.90. Alerus Financial has a twelve month low of $20.76 and a twelve month high of $34.73. The company has a market capitalization of $856.35 million, a price-to-earnings ratio of 29.36 and a beta of 0.68.

Alerus Financial (NASDAQ:ALRS) last posted its earnings results on Wednesday, October 28th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.05. The firm had revenue of $79.52 million during the quarter, compared to analyst estimates of $76.72 million. Alerus Financial had a return on equity of 14.48% and a net margin of 7.35%. As a group, research analysts predict that Alerus Financial will post 3.13 EPS for the current year.

Insider Buying and Selling at Alerus Financial

In related news, Director Jeffrey Bolton acquired 1,000 shares of the stock in a transaction dated Tuesday, September 1st. The shares were acquired at an average price of $32.45 per share, for a total transaction of $32,450.00. Following the completion of the purchase, the director owned 15,163 shares in the company, valued at approximately $492,039.35. The trade was a 7.06% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of Alerus Financial

A number of hedge funds have recently bought and sold shares of ALRS. First Trust Advisors LP grew its position in Alerus Financial by 0.6% in the 1st quarter. First Trust Advisors LP now owns 81,208 shares of the company’s stock worth $1,925,000 after purchasing an additional 503 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Alerus Financial during the second quarter valued at about $36,000. Legal & General Group Plc acquired a new position in shares of Alerus Financial during the second quarter valued at about $73,000. Parallel Advisors LLC raised its position in shares of Alerus Financial by 2,313.0% during the third quarter. Parallel Advisors LLC now owns 2,606 shares of the company’s stock valued at $82,000 after buying an additional 2,498 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Alerus Financial in the first quarter valued at about $90,000. 51.25% of the stock is owned by institutional investors.

Alerus Financial Company Profile

Alerus Financial Corporation is a diversified financial services company and the holding company for Alerus Financial, N.A. Through its banking subsidiary, the company provides consumer and commercial banking services, including checking and savings accounts, residential and commercial lending, treasury management, and digital banking solutions.

The company also offers wealth management, investment advisory, trust, retirement plan administration, and employee benefit services. These offerings are designed to serve individuals, families, businesses, nonprofit organizations, and employers through an integrated banking and financial planning model.

Alerus traces its roots to 1933 and serves clients through offices and operations in portions of the Upper Midwest and other selected U.S.