Shares of Alerus Financial (NASDAQ:ALRS – Get Free Report) have earned a consensus recommendation of “Hold” from the seven analysts that are currently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $35.75.
ALRS has been the subject of several recent research reports. Wall Street Zen lowered Alerus Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Piper Sandler raised Alerus Financial from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $37.00 to $38.00 in a report on Friday, October 2nd. Keefe, Bruyette & Woods boosted their price objective on Alerus Financial from $29.00 to $32.00 and gave the company a “market perform” rating in a research report on Friday, July 31st. DA Davidson set a $36.00 price objective on Alerus Financial in a research report on Friday, July 31st. Finally, Raymond James Financial restated an “outperform” rating and set a $37.00 price objective on shares of Alerus Financial in a research note on Monday, August 3rd.
View Our Latest Analysis on Alerus Financial
Insider Activity
In other news, Director Jeffrey Bolton purchased 1,000 shares of Alerus Financial stock in a transaction dated Tuesday, September 1st. The stock was bought at an average price of $32.45 per share, with a total value of $32,450.00. Following the completion of the acquisition, the director owned 15,163 shares in the company, valued at $492,039.35. The trade was a 7.06% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.30% of the company’s stock.
Hedge Funds Weigh In On Alerus Financial
Several institutional investors have recently modified their holdings of ALRS. Bank of New York Mellon Corp acquired a new position in shares of Alerus Financial during the second quarter worth approximately $3,869,000. Bank of America Corp DE bought a new position in Alerus Financial in the 2nd quarter worth approximately $1,226,000. Empowered Funds LLC acquired a new stake in Alerus Financial in the 2nd quarter valued at approximately $3,084,000. BlackRock Inc. acquired a new stake in Alerus Financial in the 2nd quarter valued at approximately $56,672,000. Finally, Basswood Capital Management L.L.C. bought a new stake in Alerus Financial during the 2nd quarter valued at $1,873,000. Institutional investors own 51.25% of the company’s stock.
Alerus Financial Price Performance
Shares of NASDAQ:ALRS opened at $31.16 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. Alerus Financial has a fifty-two week low of $20.31 and a fifty-two week high of $34.40. The firm has a 50-day simple moving average of $32.58 and a 200 day simple moving average of $30.26. The company has a market cap of $776.82 million, a PE ratio of 29.40 and a beta of 0.69.
Alerus Financial (NASDAQ:ALRS – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. Alerus Financial had a net margin of 6.87% and a return on equity of 14.41%. The firm had revenue of $80.00 million for the quarter, compared to analyst estimates of $76.99 million. On average, sell-side analysts anticipate that Alerus Financial will post 3.04 EPS for the current year.
Alerus Financial Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Friday, September 25th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, September 25th. Alerus Financial’s dividend payout ratio (DPR) is presently 83.02%.
Alerus Financial Company Profile
Alerus Financial Corporation is a bank holding company headquartered in Grand Forks, North Dakota. Through its primary subsidiary, Alerus Financial, N.A., the company provides banking, wealth management, retirement plan administration and mortgage services to individuals, families and businesses.
Its banking offerings include checking and savings accounts, consumer and commercial lending, treasury management and other deposit services. Alerus also provides investment advisory, trust and private wealth management services, as well as employee retirement plan recordkeeping, administration and advisory solutions.
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