Alerus Financial (NASDAQ:ALRS) Raises Dividend to $0.22 Per Share

Alerus Financial (NASDAQ:ALRS – Get Free Report) announced a quarterly dividend on Thursday, May 21st. Stockholders of record on Friday, June 26th will be given a dividend of 0.22 per share on Friday, July 10th. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, June 26th. This is a 4.8% increase from Alerus Financial’s previous quarterly dividend of $0.21.

Alerus Financial has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 25 years. Alerus Financial has a payout ratio of 37.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Alerus Financial to earn $2.80 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 31.4%.

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Alerus Financial Trading Up 2.1%

NASDAQ ALRS opened at $30.38 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. The firm has a market cap of $763.45 million, a PE ratio of 29.50 and a beta of 0.69. The company has a 50 day moving average price of $27.64 and a 200 day moving average price of $25.21. Alerus Financial has a 52 week low of $20.26 and a 52 week high of $30.49.

Alerus Financial (NASDAQ:ALRS – Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.31. Alerus Financial had a net margin of 6.74% and a return on equity of 14.39%. The company had revenue of $75.78 million during the quarter, compared to the consensus estimate of $73.78 million. As a group, sell-side analysts forecast that Alerus Financial will post 2.95 EPS for the current fiscal year.

Alerus Financial Company Profile

(Get Free Report)

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.

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