Alerus Financial (NASDAQ:ALRS) Given Consensus Rating of “Moderate Buy” by Brokerages

Alerus Financial (NASDAQ:ALRS) has been assigned a consensus rating of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $26.00.

Several equities research analysts have commented on ALRS shares. Zacks Research upgraded Alerus Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. Wall Street Zen upgraded shares of Alerus Financial from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. DA Davidson increased their target price on shares of Alerus Financial from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Piper Sandler decreased their target price on shares of Alerus Financial from $25.50 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, November 4th. Finally, Hovde Group cut shares of Alerus Financial from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 7th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC raised its position in Alerus Financial by 110.9% during the second quarter. Los Angeles Capital Management LLC now owns 97,749 shares of the company’s stock worth $2,115,000 after acquiring an additional 51,405 shares in the last quarter. CSM Advisors LLC bought a new position in shares of Alerus Financial in the 2nd quarter valued at about $4,123,000. Gamco Investors INC. ET AL acquired a new position in shares of Alerus Financial during the 2nd quarter worth about $2,341,000. Gabelli Funds LLC bought a new stake in shares of Alerus Financial in the 2nd quarter valued at about $2,982,000. Finally, New York State Common Retirement Fund lifted its stake in Alerus Financial by 349.2% in the 3rd quarter. New York State Common Retirement Fund now owns 28,981 shares of the company’s stock valued at $642,000 after purchasing an additional 22,530 shares during the last quarter. Institutional investors and hedge funds own 51.25% of the company’s stock.

Alerus Financial Stock Up 0.5%

Shares of Alerus Financial stock opened at $23.96 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. Alerus Financial has a 12 month low of $15.78 and a 12 month high of $26.32. The business has a fifty day simple moving average of $24.05 and a 200 day simple moving average of $22.73. The stock has a market cap of $608.63 million, a PE ratio of 36.31 and a beta of 0.63.

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

Alerus Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, March 27th. Alerus Financial’s dividend payout ratio is presently 127.27%.

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.