Alerus Financial Co. (NASDAQ:ALRS) Receives Consensus Rating of “Hold” from Analysts

Shares of Alerus Financial Co. (NASDAQ:ALRS) have been given a consensus rating of “Hold” by the five brokerages that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $23.40.

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

Institutional Investors Weigh In On Alerus Financial

A number of hedge funds have recently added to or reduced their stakes in ALRS. Legal & General Group Plc lifted its stake in Alerus Financial by 32.7% in the fourth quarter. Legal & General Group Plc now owns 2,025 shares of the company’s stock valued at $39,000 after buying an additional 499 shares during the period. Ameritas Investment Partners Inc. lifted its stake in Alerus Financial by 31.9% in the fourth quarter. Ameritas Investment Partners Inc. now owns 2,349 shares of the company’s stock valued at $45,000 after buying an additional 568 shares during the period. Invesco Ltd. lifted its stake in Alerus Financial by 2.2% in the fourth quarter. Invesco Ltd. now owns 33,215 shares of the company’s stock valued at $639,000 after buying an additional 717 shares during the period. Corebridge Financial Inc. lifted its stake in Alerus Financial by 17.1% in the fourth quarter. Corebridge Financial Inc. now owns 11,164 shares of the company’s stock valued at $215,000 after buying an additional 1,628 shares during the period. Finally, New York State Common Retirement Fund lifted its stake in Alerus Financial by 41.7% in the fourth quarter. New York State Common Retirement Fund now owns 6,451 shares of the company’s stock valued at $124,000 after buying an additional 1,900 shares during the period. 51.25% of the stock is currently owned by institutional investors.

Alerus Financial Stock Performance

Shares of Alerus Financial stock opened at $21.48 on Friday. Alerus Financial has a fifty-two week low of $17.99 and a fifty-two week high of $24.41. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $544.30 million, a P/E ratio of 21.06 and a beta of 0.71. The company’s 50 day moving average price is $20.37 and its two-hundred day moving average price is $21.47.

Alerus Financial (NASDAQ:ALRS) last issued its earnings results on Tuesday, January 28th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.16. Alerus Financial had a net margin of 6.26% and a return on equity of 7.66%. On average, equities analysts forecast that Alerus Financial will post 2.14 earnings per share for the current fiscal year.

Alerus Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, December 27th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.72%. The ex-dividend date was Friday, December 27th. Alerus Financial’s dividend payout ratio (DPR) is presently 78.43%.

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.