Brokerages Set Alerus Financial Co. (NASDAQ:ALRS) PT at $23.20

Shares of Alerus Financial Co. (NASDAQ:ALRS) have been given a consensus recommendation of “Hold” by the five analysts that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $23.20.

ALRS has been the subject of several recent research reports. Piper Sandler dropped their price target on Alerus Financial from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Raymond James upgraded Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a research report on Tuesday, September 17th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

Hedge Funds Weigh In On Alerus Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Federated Hermes Inc. grew its stake in shares of Alerus Financial by 380.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,519 shares of the company’s stock valued at $30,000 after buying an additional 1,203 shares during the period. Empowered Funds LLC grew its position in Alerus Financial by 5.1% during the third quarter. Empowered Funds LLC now owns 46,937 shares of the company’s stock valued at $1,074,000 after acquiring an additional 2,278 shares during the period. State Street Corp grew its position in Alerus Financial by 1.0% during the third quarter. State Street Corp now owns 351,775 shares of the company’s stock valued at $8,118,000 after acquiring an additional 3,623 shares during the period. Sippican Capital Advisors raised its holdings in shares of Alerus Financial by 4.8% in the 3rd quarter. Sippican Capital Advisors now owns 80,525 shares of the company’s stock worth $1,842,000 after purchasing an additional 3,665 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Alerus Financial by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 149,280 shares of the company’s stock valued at $3,416,000 after purchasing an additional 5,184 shares in the last quarter. Institutional investors and hedge funds own 51.25% of the company’s stock.

Alerus Financial Price Performance

Alerus Financial stock opened at $19.03 on Thursday. The firm has a market capitalization of $482.18 million, a PE ratio of 118.94 and a beta of 0.69. Alerus Financial has a 52 week low of $18.09 and a 52 week high of $25.85. The firm’s 50-day simple moving average is $21.74 and its 200 day simple moving average is $21.42. 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 (NASDAQ:ALRS) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.18). Alerus Financial had a net margin of 1.01% and a return on equity of 6.02%. The business had revenue of $80.58 million during the quarter, compared to analysts’ expectations of $52.30 million. During the same period last year, the company earned $0.45 EPS. On average, equities research analysts predict that Alerus Financial will post 0.97 EPS for the current fiscal year.

Alerus Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, December 27th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.80 annualized dividend and a dividend yield of 4.20%. Alerus Financial’s dividend payout ratio is presently 500.00%.

About Alerus Financial

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.