Alerus Financial (NASDAQ:ALRS) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Alerus Financial (NASDAQ:ALRS – Get Free Report) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $29.25.

Several research firms have recently issued reports on ALRS. DA Davidson lifted their target price on shares of Alerus Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Zacks Research upgraded Alerus Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Piper Sandler raised their price target on Alerus Financial from $28.50 to $32.00 and gave the company a “neutral” rating in a report on Friday, June 26th. Weiss Ratings raised shares of Alerus Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen upgraded Alerus Financial from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th.

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Institutional Investors Weigh In On Alerus Financial

Several hedge funds and other institutional investors have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co increased its position in shares of Alerus Financial by 25.7% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,222 shares of the company’s stock valued at $50,000 after purchasing an additional 455 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Alerus Financial by 50.0% in the fourth quarter. Larson Financial Group LLC now owns 1,500 shares of the company’s stock worth $34,000 after purchasing an additional 500 shares during the last quarter. First Trust Advisors LP boosted its position in Alerus Financial by 0.6% in the 1st quarter. First Trust Advisors LP now owns 81,208 shares of the company’s stock valued at $1,925,000 after buying an additional 503 shares during the period. Gator Capital Management LLC raised its stake in shares of Alerus Financial by 0.8% during the fourth quarter. Gator Capital Management LLC now owns 65,410 shares of the company’s stock valued at $1,473,000 after acquiring an additional 505 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Alerus Financial by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,420 shares of the company’s stock worth $248,000 after purchasing an additional 546 shares in the last quarter. 51.25% of the stock is currently owned by hedge funds and other institutional investors.

Alerus Financial Stock Performance

ALRS remained flat at $31.11 during trading on Friday. The company’s stock had a trading volume of 244,855 shares, compared to its average volume of 275,526. Alerus Financial has a twelve month low of $20.26 and a twelve month high of $31.85. The company has a market capitalization of $781.79 million, a P/E ratio of 30.20 and a beta of 0.68. 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’s 50 day simple moving average is $28.55 and its 200 day simple moving average is $25.66.

Alerus Financial (NASDAQ:ALRS – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.89 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $73.78 million. On average, equities research analysts predict that Alerus Financial will post 3.02 earnings per share for the current year.

Alerus Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.8%. This is a positive change from Alerus Financial’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, June 26th. Alerus Financial’s payout ratio is currently 85.44%.

About Alerus Financial

(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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