Alerus Financial Co. (NASDAQ:ALRS) Receives $23.40 Consensus PT from Brokerages

Alerus Financial Co. (NASDAQ:ALRS) has earned a consensus rating of “Hold” from the five analysts that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $23.40.

Several research analysts recently weighed in on ALRS shares. Keefe, Bruyette & Woods upped their price objective on shares of Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. DA Davidson reissued a “neutral” rating and issued a $23.00 price target on shares of Alerus Financial in a report on Thursday, January 30th. Piper Sandler raised their price objective on shares of Alerus Financial from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, Raymond James reiterated an “outperform” rating and issued a $24.00 target price (up from $22.00) on shares of Alerus Financial in a research report on Thursday, January 30th.

Alerus Financial Price Performance

Shares of NASDAQ:ALRS opened at $18.42 on Tuesday. Alerus Financial has a 12 month low of $17.95 and a 12 month high of $24.41. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. The stock has a market cap of $466.73 million, a P/E ratio of 18.06 and a beta of 0.74. The company has a 50 day moving average of $20.18 and a 200 day moving average of $21.23.

Alerus Financial (NASDAQ:ALRS) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.16. Alerus Financial had a net margin of 6.26% and a return on equity of 7.66%. As a group, sell-side analysts forecast that Alerus Financial will post 2.14 EPS for the current fiscal year.

Alerus Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 14th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.34%. Alerus Financial’s dividend payout ratio (DPR) is 78.43%.

Hedge Funds Weigh In On Alerus Financial

Large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its stake in shares of Alerus Financial by 120.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 666,559 shares of the company’s stock valued at $12,824,000 after purchasing an additional 363,617 shares during the period. Rhino Investment Partners Inc purchased a new stake in Alerus Financial during the 4th quarter valued at $5,849,000. FJ Capital Management LLC bought a new stake in Alerus Financial in the 4th quarter worth $5,557,000. Alliancebernstein L.P. increased its position in shares of Alerus Financial by 2,346.3% in the fourth quarter. Alliancebernstein L.P. now owns 287,931 shares of the company’s stock valued at $5,540,000 after acquiring an additional 276,161 shares during the period. Finally, Stieven Capital Advisors L.P. bought a new position in shares of Alerus Financial during the third quarter valued at about $5,966,000. Hedge funds and other institutional investors own 51.25% of the company’s stock.

Alerus Financial Company Profile

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.