Alerus Financial (NASDAQ:ALRS) Coverage Initiated at Raymond James

Raymond James started coverage on shares of Alerus Financial (NASDAQ:ALRS) in a research note published on Tuesday. The brokerage issued an outperform rating and a $22.00 price target on the stock.

A number of other analysts have also weighed in on ALRS. Keefe, Bruyette & Woods increased their price objective on Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler dropped their price target 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. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $22.80.

Alerus Financial Stock Performance

Alerus Financial stock opened at $19.28 on Tuesday. The firm has a fifty day simple moving average of $21.00 and a two-hundred day simple moving average of $21.46. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15. Alerus Financial has a twelve month low of $17.99 and a twelve month high of $25.85. The company has a market capitalization of $488.52 million, a PE ratio of 120.51 and a beta of 0.71.

Alerus Financial (NASDAQ:ALRS) last released its earnings results on Tuesday, October 29th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.18). Alerus Financial had a net margin of 1.01% and a return on equity of 6.02%. The company had revenue of $80.58 million during the quarter, compared to the consensus estimate of $52.30 million. During the same period last year, the firm posted $0.45 EPS. Research analysts expect that Alerus Financial will post 0.97 EPS for the current year.

Alerus Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, December 27th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.15%. Alerus Financial’s dividend payout ratio is presently 500.00%.

Institutional Trading of Alerus Financial

Large investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. lifted its position in shares of Alerus Financial by 380.7% in the 2nd 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 purchased a new stake in Alerus Financial in the third quarter worth about $142,000. Harbor Advisors LLC bought a new stake in Alerus Financial during the 3rd quarter valued at approximately $226,000. Inspire Investing LLC bought a new stake in Alerus Financial during the 3rd quarter valued at approximately $417,000. Finally, Walleye Capital LLC purchased a new position in shares of Alerus Financial during the 3rd quarter worth approximately $424,000. 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.