Alerus Financial (NASDAQ:ALRS) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Alerus Financial (NASDAQ:ALRS) have earned a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $36.25.

Several equities analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Alerus Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. DA Davidson set a $36.00 target price on shares of Alerus Financial in a research note on Friday, July 31st. Keefe, Bruyette & Woods increased their price objective on Alerus Financial from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, October 30th. Weiss Ratings raised shares of Alerus Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 30th. Finally, Raymond James Financial restated an “outperform” rating and issued a $37.00 price target on shares of Alerus Financial in a research note on Monday, August 3rd.

Insider Buying and Selling

In other Alerus Financial news, Director Jeffrey Bolton acquired 1,000 shares of the stock in a transaction dated Tuesday, September 1st. The stock was acquired at an average price of $32.45 per share, with a total value of $32,450.00. Following the completion of the purchase, the director owned 15,163 shares in the company, valued at $492,039.35. This trade represents a 7.06% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alerus Financial

A number of large investors have recently bought and sold shares of the stock. Parallel Advisors LLC raised its position in shares of Alerus Financial by 2,313.0% during the 3rd quarter. Parallel Advisors LLC now owns 2,606 shares of the company’s stock worth $82,000 after purchasing an additional 2,498 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of Alerus Financial during the 2nd quarter valued at $36,000. Corient Private Wealth LP bought a new position in Alerus Financial during the 2nd quarter worth about $223,000. Susquehanna Fundamental Investments LLC increased its position in Alerus Financial by 30.4% during the second quarter. Susquehanna Fundamental Investments LLC now owns 28,377 shares of the company’s stock worth $883,000 after buying an additional 6,608 shares during the last quarter. Finally, Empowered Funds LLC acquired a new position in shares of Alerus Financial during the 2nd quarter worth approximately $3,084,000. Hedge funds and other institutional investors own 51.25% of the company’s stock.

Alerus Financial Trading Down 0.1%

NASDAQ:ALRS opened at $33.81 on Friday. Alerus Financial has a 52-week low of $20.76 and a 52-week high of $35.49. The company has a market capitalization of $842.88 million, a PE ratio of 28.90 and a beta of 0.68. The stock’s 50 day moving average price is $32.49 and its 200 day moving average price is $29.04. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.10.

Alerus Financial (NASDAQ:ALRS) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The business had revenue of $79.52 million during the quarter, compared to analyst estimates of $76.72 million. Alerus Financial had a net margin of 7.35% and a return on equity of 14.48%. On average, research analysts anticipate that Alerus Financial will post 3.13 EPS for the current year.

Alerus Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Friday, September 25th were given a dividend of $0.22 per share. The ex-dividend date was Friday, September 25th. This represents a $0.88 dividend on an annualized basis and a yield of 2.6%. Alerus Financial’s payout ratio is currently 75.21%.

About Alerus Financial

Alerus Financial Corporation is a diversified financial services company and the holding company for Alerus Financial, N.A. Through its banking subsidiary, the company provides consumer and commercial banking services, including checking and savings accounts, residential and commercial lending, treasury management, and digital banking solutions.

The company also offers wealth management, investment advisory, trust, retirement plan administration, and employee benefit services. These offerings are designed to serve individuals, families, businesses, nonprofit organizations, and employers through an integrated banking and financial planning model.

Alerus traces its roots to 1933 and serves clients through offices and operations in portions of the Upper Midwest and other selected U.S.