Alerus Financial (NASDAQ:ALRS) Given New $25.00 Price Target at Keefe, Bruyette & Woods

Alerus Financial (NASDAQ:ALRS) had its price objective hoisted by equities research analysts at Keefe, Bruyette & Woods from $24.00 to $25.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 1.77% from the stock’s previous close.

ALRS has been the subject of several other research reports. Weiss Ratings upgraded Alerus Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Zacks Research upgraded shares of Alerus Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Hovde Group cut shares of Alerus Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 7th. Raymond James Financial raised shares of Alerus Financial from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $25.00 to $27.00 in a report on Monday, January 5th. Finally, Piper Sandler lowered their target price on shares of Alerus Financial from $25.50 to $24.00 and set a “neutral” rating on the stock in a report on Tuesday, November 4th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.25.

Alerus Financial Stock Performance

Shares of NASDAQ:ALRS traded up $0.21 during midday trading on Friday, reaching $24.57. The company had a trading volume of 49,398 shares, compared to its average volume of 147,167. The stock has a market cap of $623.95 million, a P/E ratio of 37.22 and a beta of 0.66. The company’s 50 day moving average price is $22.93 and its 200 day moving average price is $22.21. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11. Alerus Financial has a 52-week low of $15.78 and a 52-week high of $25.00.

Alerus Financial (NASDAQ:ALRS) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.28. Alerus Financial had a net margin of 4.36% and a return on equity of 13.38%. The company had revenue of $77.07 million during the quarter, compared to analyst estimates of $71.43 million. As a group, sell-side analysts anticipate that Alerus Financial will post 2.14 EPS for the current fiscal year.

Institutional Trading of Alerus Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. Thompson Investment Management Inc. purchased a new position in Alerus Financial in the second quarter worth $32,000. NewEdge Advisors LLC boosted its holdings in shares of Alerus Financial by 90.1% in the 2nd quarter. NewEdge Advisors LLC now owns 1,544 shares of the company’s stock worth $33,000 after purchasing an additional 732 shares in the last quarter. CIBC Private Wealth Group LLC bought a new position in shares of Alerus Financial during the 3rd quarter valued at about $52,000. AlphaQuest LLC purchased a new position in shares of Alerus Financial during the 3rd quarter valued at about $59,000. Finally, Tower Research Capital LLC TRC lifted its position in Alerus Financial by 172.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,371 shares of the company’s stock worth $73,000 after buying an additional 2,135 shares during the last quarter. Hedge funds and other institutional investors own 51.25% of the company’s stock.

About Alerus Financial

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.