Alerus Financial (NASDAQ:ALRS) Shares Gap Up to $29.27

Shares of Alerus Financial Co. (NASDAQ:ALRS) gapped up before the market opened on Thursday . The stock had previously closed at $29.27, but opened at $30.05. Alerus Financial shares last traded at $30.00, with a volume of 4 shares changing hands.

Separately, Zacks Investment Research raised shares of Alerus Financial from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Tuesday, January 4th.

The company has a market cap of $507.46 million, a PE ratio of 10.42 and a beta of 0.77. The company has a quick ratio of 0.70, a current ratio of 0.72 and a debt-to-equity ratio of 0.17. The business has a 50-day simple moving average of $30.89 and a 200-day simple moving average of $30.02.

Alerus Financial (NASDAQ:ALRS) last announced its earnings results on Tuesday, October 26th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.24. The company had revenue of $57.17 million for the quarter, compared to analyst estimates of $53.16 million. Alerus Financial had a return on equity of 14.78% and a net margin of 20.39%. During the same quarter in the previous year, the company earned $0.99 earnings per share. As a group, equities research analysts predict that Alerus Financial Co. will post 2.8 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 14th. Shareholders of record on Friday, December 24th were paid a $0.16 dividend. The ex-dividend date was Wednesday, December 22nd. This represents a $0.64 annualized dividend and a dividend yield of 2.17%. Alerus Financial’s dividend payout ratio (DPR) is 22.61%.

Several large investors have recently bought and sold shares of ALRS. Citigroup Inc. grew its stake in shares of Alerus Financial by 144.2% in the third quarter. Citigroup Inc. now owns 1,751 shares of the company’s stock worth $52,000 after acquiring an additional 1,034 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Alerus Financial by 132.3% in the third quarter. Royal Bank of Canada now owns 2,472 shares of the company’s stock worth $74,000 after acquiring an additional 1,408 shares in the last quarter. Metropolitan Life Insurance Co NY grew its stake in shares of Alerus Financial by 105,540.0% during the second quarter. Metropolitan Life Insurance Co NY now owns 5,282 shares of the company’s stock worth $153,000 after purchasing an additional 5,277 shares in the last quarter. Bell Bank acquired a new position in shares of Alerus Financial during the third quarter worth $232,000. Finally, SG Americas Securities LLC acquired a new position in shares of Alerus Financial during the third quarter worth $291,000. Institutional investors and hedge funds own 37.01% of the company’s stock.

Alerus Financial Company Profile (NASDAQ:ALRS)

Alerus Financial Corp. engages in the provision of business and consumer financial products and services through its subsidiary, Alerus Financial NA. It operates through the following segments: Banking, Retirement & Benefit Services, Wealth Management, Mortgage, and Corporate Administration. The Banking segment provides lending and deposit products.

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