Alerus Financial (NASDAQ:ALRS – Get Free Report) released its earnings results on Wednesday. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05, FiscalAI reports. Alerus Financial had a net margin of 6.87% and a return on equity of 14.41%. The firm had revenue of $79.52 million for the quarter, compared to analysts’ expectations of $76.72 million.
Alerus Financial Price Performance
ALRS opened at $32.27 on Thursday. The firm has a 50-day moving average price of $32.35 and a 200-day moving average price of $28.69. Alerus Financial has a twelve month low of $20.31 and a twelve month high of $34.40. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $804.49 million, a price-to-earnings ratio of 30.44 and a beta of 0.69.
Alerus Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 25th were paid a $0.22 dividend. The ex-dividend date was Friday, September 25th. This represents a $0.88 annualized dividend and a dividend yield of 2.7%. Alerus Financial’s dividend payout ratio (DPR) is presently 83.02%.
Insider Activity at Alerus Financial
In other Alerus Financial news, Director Jeffrey Bolton acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was bought at an average cost of $32.45 per share, with a total value of $32,450.00. Following the acquisition, the director owned 15,163 shares in the company, valued at approximately $492,039.35. This represents a 7.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.30% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on ALRS. Raymond James Financial restated an “outperform” rating and set a $37.00 price target on shares of Alerus Financial in a research note on Monday, August 3rd. Weiss Ratings downgraded Alerus Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 16th. Wall Street Zen downgraded Alerus Financial from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. DA Davidson set a $36.00 price objective on Alerus Financial in a report on Friday, July 31st. Finally, Keefe, Bruyette & Woods raised their target price on Alerus Financial from $29.00 to $32.00 and gave the stock a “market perform” rating in a research report on Friday, July 31st. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $35.75.
View Our Latest Stock Report on Alerus Financial
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.
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