Alerus Financial (NASDAQ:ALRS) Receives Outperform Rating from Raymond James

Raymond James reissued their outperform rating on shares of Alerus Financial (NASDAQ:ALRS) in a report issued on Thursday,Benzinga reports. The firm currently has a $24.00 price target on the stock, up from their prior price target of $22.00.

ALRS has been the topic of several other reports. Piper Sandler increased their target price on shares of Alerus Financial from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday. Keefe, Bruyette & Woods upped their price target on shares of Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Alerus Financial currently has an average rating of “Hold” and a consensus price target of $23.40.

Alerus Financial Price Performance

ALRS opened at $21.37 on Thursday. The business has a fifty day moving average of $20.44 and a 200 day moving average of $21.48. The stock has a market cap of $541.52 million, a P/E ratio of 20.95 and a beta of 0.71. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15. Alerus Financial has a 52-week low of $17.99 and a 52-week high of $24.69.

Alerus Financial (NASDAQ:ALRS) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.16. Alerus Financial had a net margin of 6.26% and a return on equity of 7.66%. As a group, sell-side analysts anticipate that Alerus Financial will post 1.96 EPS for the current year.

Alerus Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, December 27th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $0.80 dividend on an annualized basis and a yield of 3.74%. Alerus Financial’s dividend payout ratio (DPR) is 78.43%.

Institutional Trading of Alerus Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in ALRS. JPMorgan Chase & Co. boosted its position in 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 purchasing an additional 16,336 shares in the last quarter. Barclays PLC grew its stake in Alerus Financial by 58.8% in the 3rd quarter. Barclays PLC now owns 44,399 shares of the company’s stock valued at $1,017,000 after acquiring an additional 16,436 shares during the period. Stieven Capital Advisors L.P. purchased a new stake in Alerus Financial in the 3rd quarter worth $5,966,000. Squarepoint Ops LLC raised its position in Alerus Financial by 191.1% during the second quarter. Squarepoint Ops LLC now owns 46,839 shares of the company’s stock worth $919,000 after acquiring an additional 30,750 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Alerus Financial by 4.0% during the third quarter. Geode Capital Management LLC now owns 416,072 shares of the company’s stock valued at $9,522,000 after purchasing an additional 15,966 shares in the last quarter. Institutional investors and hedge funds own 51.25% of the company’s stock.

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.