Alerus Financial Co. (NASDAQ:ALRS – Get Free Report) announced a quarterly dividend on Wednesday, August 21st, Zacks reports. Stockholders of record on Friday, September 13th will be given a dividend of 0.20 per share on Friday, October 11th. This represents a $0.80 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend is Friday, September 13th.
Alerus Financial has increased its dividend by an average of 7.7% annually over the last three years and has increased its dividend annually for the last 21 consecutive years. Alerus Financial has a dividend payout ratio of 33.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Alerus Financial to earn $2.26 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 35.4%.
Alerus Financial Trading Up 0.2 %
Shares of Alerus Financial stock opened at $21.53 on Friday. The stock has a 50 day moving average of $20.36 and a 200 day moving average of $20.64. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market capitalization of $425.80 million, a price-to-earnings ratio of 43.94 and a beta of 0.66. Alerus Financial has a fifty-two week low of $16.80 and a fifty-two week high of $25.85.
Wall Street Analysts Forecast Growth
ALRS has been the subject of several research analyst reports. Piper Sandler increased their target price on shares of Alerus Financial from $22.50 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods increased 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 Monday, July 29th. Hovde Group raised Alerus Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $21.00 to $23.00 in a research report on Thursday, May 16th. Finally, DA Davidson upped their price target on Alerus Financial from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Alerus Financial currently has a consensus rating of “Hold” and an average target price of $23.25.
Read Our Latest Stock Analysis on ALRS
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.
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