DA Davidson Reaffirms Neutral Rating for Alerus Financial (NASDAQ:ALRS)

Alerus Financial (NASDAQ:ALRS)‘s stock had its “neutral” rating reiterated by research analysts at DA Davidson in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $23.00 price objective on the stock. DA Davidson’s price objective points to a potential upside of 7.82% from the company’s previous close.

ALRS has been the topic of a number of other research reports. Raymond James reiterated an “outperform” rating and set a $24.00 price objective (up previously from $22.00) on shares of Alerus Financial in a research report on Thursday. Keefe, Bruyette & Woods lifted their price objective on Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler lifted their price objective on Alerus Financial from $21.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Alerus Financial presently has a consensus rating of “Hold” and a consensus price target of $23.40.

Alerus Financial Stock Performance

Alerus Financial stock traded up $0.38 during midday trading on Thursday, hitting $21.33. 10,480 shares of the company were exchanged, compared to its average volume of 87,411. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.85 and a current ratio of 0.85. Alerus Financial has a fifty-two week low of $17.99 and a fifty-two week high of $24.69. The business has a fifty day simple moving average of $20.45 and a two-hundred day simple moving average of $21.49. The firm has a market capitalization of $540.55 million, a PE ratio of 133.23 and a beta of 0.71.

Alerus Financial (NASDAQ:ALRS) last released its earnings results on Tuesday, January 28th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.16. Alerus Financial had a return on equity of 6.02% and a net margin of 1.01%. On average, sell-side analysts forecast that Alerus Financial will post 0.71 earnings per share for the current year.

Institutional Investors Weigh In On Alerus Financial

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Alerus Financial in the third quarter valued at $142,000. Harbor Advisors LLC purchased a new stake in Alerus Financial during the 3rd quarter valued at approximately $226,000. Inspire Investing LLC raised its stake in Alerus Financial by 14.9% during the 4th quarter. Inspire Investing LLC now owns 20,947 shares of the company’s stock valued at $403,000 after acquiring an additional 2,717 shares during the last quarter. Walleye Capital LLC purchased a new stake in Alerus Financial during the 3rd quarter valued at approximately $424,000. Finally, Foundry Partners LLC purchased a new stake in Alerus Financial during the 3rd quarter valued at approximately $530,000. 51.25% of the stock is owned by institutional investors and hedge funds.

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.