Keefe, Bruyette & Woods Raises Alerus Financial (NASDAQ:ALRS) Price Target to $32.00

Alerus Financial (NASDAQ:ALRS) had its price target boosted by analysts at Keefe, Bruyette & Woods from $29.00 to $32.00 in a report released on Friday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential downside of 4.52% from the stock’s current price.

Several other brokerages have also recently weighed in on ALRS. Piper Sandler increased their price target on shares of Alerus Financial from $28.50 to $32.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Zacks Research upgraded shares of Alerus Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Wall Street Zen raised shares of Alerus Financial from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. DA Davidson increased their target price on shares of Alerus Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Finally, Weiss Ratings raised Alerus Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $31.75.

Alerus Financial Stock Performance

NASDAQ:ALRS opened at $33.52 on Friday. The firm has a market cap of $842.20 million, a PE ratio of 31.62 and a beta of 0.68. Alerus Financial has a fifty-two week low of $20.26 and a fifty-two week high of $34.15. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90. The business has a 50 day moving average price of $30.54 and a 200-day moving average price of $26.91.

Alerus Financial (NASDAQ:ALRS) last issued its earnings results on Wednesday, July 29th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.02. Alerus Financial had a net margin of 6.87% and a return on equity of 14.53%. The firm had revenue of $80.00 million for the quarter, compared to analysts’ expectations of $76.99 million. Equities research analysts predict that Alerus Financial will post 3.03 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Larson Financial Group LLC lifted its position in Alerus Financial by 50.0% in the 4th quarter. Larson Financial Group LLC now owns 1,500 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Alerus Financial by 90.1% in the second quarter. NewEdge Advisors LLC now owns 1,544 shares of the company’s stock worth $33,000 after acquiring an additional 732 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in Alerus Financial by 25.7% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,222 shares of the company’s stock valued at $50,000 after purchasing an additional 455 shares during the period. CIBC Private Wealth Group LLC bought a new stake in Alerus Financial in the 3rd quarter worth approximately $52,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Alerus Financial by 172.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,371 shares of the company’s stock valued at $73,000 after buying an additional 2,135 shares during the period. Institutional investors own 51.25% of the company’s stock.

Alerus Financial Company Profile

Alerus Financial Corporation (NASDAQ: ALRS) is a diversified financial services company headquartered in Grand Forks, North Dakota. The firm provides a full range of commercial and consumer banking products, including deposit accounts, lending solutions and treasury management services for individuals, small businesses and larger corporate clients. Through its community banking network, Alerus emphasizes local decision-making and personalized service to meet the needs of its varied client base.

In addition to traditional banking offerings, Alerus operates a national mortgage origination and servicing platform that delivers home purchase and refinance loans.