Alerus Financial Co. Forecasted to Post Q2 2024 Earnings of $0.36 Per Share (NASDAQ:ALRS)

Alerus Financial Co. (NASDAQ:ALRS) – Research analysts at DA Davidson issued their Q2 2024 earnings per share estimates for shares of Alerus Financial in a note issued to investors on Wednesday, May 1st. DA Davidson analyst J. Rulis forecasts that the company will post earnings per share of $0.36 for the quarter. DA Davidson currently has a “Neutral” rating and a $24.00 target price on the stock. The consensus estimate for Alerus Financial’s current full-year earnings is $1.48 per share.

Separately, TheStreet downgraded Alerus Financial from a “b-” rating to a “c+” rating in a research report on Wednesday, March 13th.

Alerus Financial Stock Up 0.9 %

Shares of NASDAQ:ALRS opened at $19.96 on Thursday. The firm has a fifty day moving average of $21.10 and a 200 day moving average of $20.62. Alerus Financial has a 52-week low of $13.11 and a 52-week high of $25.85. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market capitalization of $394.01 million, a PE ratio of 40.74 and a beta of 0.67.

Alerus Financial (NASDAQ:ALRS) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $74.36 million during the quarter, compared to analysts’ expectations of $47.40 million. Alerus Financial had a net margin of 3.54% and a return on equity of 8.20%. During the same quarter in the previous year, the company earned $0.40 EPS.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Sippican Capital Advisors increased its holdings in shares of Alerus Financial by 11.9% in the first quarter. Sippican Capital Advisors now owns 67,390 shares of the company’s stock worth $1,471,000 after buying an additional 7,185 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of Alerus Financial in the first quarter worth about $1,711,000. ICA Group Wealth Management LLC purchased a new position in shares of Alerus Financial in the fourth quarter worth about $81,000. Wealth Forward LLC purchased a new position in shares of Alerus Financial in the fourth quarter worth about $1,242,000. Finally, Cutler Capital Management LLC increased its holdings in shares of Alerus Financial by 0.5% in the fourth quarter. Cutler Capital Management LLC now owns 157,480 shares of the company’s stock worth $3,526,000 after buying an additional 829 shares during the period. Hedge funds and other institutional investors own 51.25% of the company’s stock.

Alerus Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 15th were given a dividend of $0.19 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.76 dividend on an annualized basis and a yield of 3.81%. Alerus Financial’s payout ratio is 155.11%.

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.