Alerus Financial (NASDAQ:ALRS) Now Covered by Analysts at Raymond James

Analysts at Raymond James started coverage on shares of Alerus Financial (NASDAQ:ALRS) in a report issued on Tuesday. The firm set an “outperform” rating and a $22.00 price target on the stock. Raymond James’ price objective suggests a potential upside of 14.46% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Piper Sandler lowered their price objective on shares of Alerus Financial from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Keefe, Bruyette & Woods raised their target price on shares of Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $22.80.

Alerus Financial Stock Up 2.8 %

NASDAQ ALRS traded up $0.52 during trading on Tuesday, hitting $19.22. 18,743 shares of the company traded hands, compared to its average volume of 72,658. Alerus Financial has a 12 month low of $17.99 and a 12 month high of $25.85. The business has a fifty day simple moving average of $21.00 and a 200 day simple moving average of $21.46. 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 company has a market capitalization of $487.00 million, a P/E ratio of 120.13 and a beta of 0.71.

Alerus Financial (NASDAQ:ALRS) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.18). Alerus Financial had a return on equity of 6.02% and a net margin of 1.01%. The business had revenue of $80.58 million for the quarter, compared to analyst estimates of $52.30 million. During the same period in the prior year, the firm posted $0.45 EPS. As a group, sell-side analysts predict that Alerus Financial will post 0.97 EPS for the current year.

Institutional Trading of Alerus Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. lifted its holdings in shares of Alerus Financial by 380.7% during the second quarter. Federated Hermes Inc. now owns 1,519 shares of the company’s stock worth $30,000 after purchasing an additional 1,203 shares during the period. SG Americas Securities LLC acquired a new position in shares of Alerus Financial during the third quarter worth $142,000. Harbor Advisors LLC acquired a new position in shares of Alerus Financial during the third quarter worth $226,000. Inspire Investing LLC acquired a new position in shares of Alerus Financial during the third quarter worth $417,000. Finally, Walleye Capital LLC acquired a new position in shares of Alerus Financial during the third quarter worth $424,000. Institutional investors 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.