Piper Sandler Issues Pessimistic Forecast for Alerus Financial (NASDAQ:ALRS) Stock Price

Alerus Financial (NASDAQ:ALRS) had its target price cut by Piper Sandler from $24.00 to $23.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target suggests a potential upside of 13.08% from the company’s current price.

Other research analysts have also issued research reports about the company. Keefe, Bruyette & Woods lifted their price target on Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Raymond James raised shares of Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 target price on the stock in a research note on Tuesday, September 17th. Finally, DA Davidson increased their price target on shares of Alerus Financial from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Alerus Financial has a consensus rating of “Hold” and a consensus price target of $23.20.

Alerus Financial Price Performance

NASDAQ ALRS traded down $0.06 during trading hours on Thursday, hitting $20.34. 39,382 shares of the company’s stock traded hands, compared to its average volume of 58,184. The company has a market capitalization of $402.28 million, a PE ratio of 58.23 and a beta of 0.66. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.86 and a quick ratio of 0.85. Alerus Financial has a 52-week low of $17.07 and a 52-week high of $25.85. The firm’s 50-day moving average is $22.44 and its 200-day moving average is $20.91.

Alerus Financial (NASDAQ:ALRS) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.18). Alerus Financial had a net margin of 2.39% and a return on equity of 7.25%. The company had revenue of $80.58 million during the quarter, compared to analysts’ expectations of $52.30 million. During the same quarter last year, the company earned $0.45 earnings per share. Equities analysts forecast that Alerus Financial will post 1.21 EPS for the current fiscal year.

Institutional Trading of Alerus Financial

Several institutional investors have recently added to or reduced their stakes in the stock. Sippican Capital Advisors grew its stake in shares of Alerus Financial by 4.8% in the third quarter. Sippican Capital Advisors now owns 80,525 shares of the company’s stock valued at $1,842,000 after buying an additional 3,665 shares in the last quarter. Inspire Investing LLC acquired a new position in shares of Alerus Financial in the third quarter valued at approximately $417,000. SG Americas Securities LLC purchased a new stake in Alerus Financial during the 3rd quarter worth approximately $142,000. Endeavour Capital Advisors Inc. boosted its position in Alerus Financial by 34.0% in the 2nd quarter. Endeavour Capital Advisors Inc. now owns 288,876 shares of the company’s stock valued at $5,665,000 after buying an additional 73,342 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in Alerus Financial by 191.1% in the second quarter. Squarepoint Ops LLC now owns 46,839 shares of the company’s stock valued at $919,000 after purchasing an additional 30,750 shares during the period. Institutional investors and hedge funds own 51.25% of the company’s stock.

About Alerus Financial

Alerus Financial Corporation operates as the bank holding company for Alerus Financial, National Association that engages in the provision of various financial services to businesses and consumers. The company operates in four segments: Banking, Mortgage, Retirement and Benefit Services, and Wealth Management.