DA Davidson Reaffirms Neutral Rating for Alerus Financial (NASDAQ:ALRS)

Alerus Financial (NASDAQ:ALRS)‘s stock had its “neutral” rating reaffirmed by analysts at DA Davidson in a report released on Thursday,Benzinga reports. They presently have a $23.00 target price on the stock. DA Davidson’s target price suggests a potential upside of 7.82% from the company’s current price.

A number of other research firms also recently issued reports on ALRS. Piper Sandler lifted their price objective on Alerus Financial from $21.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday. Raymond James reaffirmed an “outperform” rating and issued a $24.00 price objective (up previously from $22.00) on shares of Alerus Financial in a research note on Thursday. Finally, Keefe, Bruyette & Woods lifted their price objective on Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $23.40.

Alerus Financial Price Performance

ALRS traded up $0.38 on Thursday, hitting $21.33. 10,480 shares of the company’s stock traded hands, compared to its average volume of 87,411. The company’s 50 day simple moving average is $20.45 and its 200-day simple moving average is $21.49. The firm has a market cap of $540.55 million, a price-to-earnings ratio of 133.23 and a beta of 0.71. Alerus Financial has a one year low of $17.99 and a one year high of $24.69. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15.

Alerus Financial (NASDAQ:ALRS) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.16. Alerus Financial had a return on equity of 6.02% and a net margin of 1.01%. As a group, research analysts anticipate that Alerus Financial will post 0.71 EPS for the current year.

Institutional Investors Weigh In On Alerus Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in Alerus Financial by 4.0% in the third quarter. Geode Capital Management LLC now owns 416,072 shares of the company’s stock valued at $9,522,000 after buying an additional 15,966 shares during the last quarter. State Street Corp raised its stake in shares of Alerus Financial by 1.0% in the third quarter. State Street Corp now owns 351,775 shares of the company’s stock worth $8,118,000 after purchasing an additional 3,623 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Alerus Financial by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 274,615 shares of the company’s stock worth $5,384,000 after purchasing an additional 7,300 shares during the last quarter. Stieven Capital Advisors L.P. purchased a new position in shares of Alerus Financial in the third quarter worth about $5,966,000. Finally, Grace & White Inc. NY purchased a new position in shares of Alerus Financial in the fourth quarter worth about $4,930,000. 51.25% of the stock is currently owned by hedge funds and other institutional investors.

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.