Alerus Financial Co. (NASDAQ:ALRS) Given Consensus Recommendation of "Hold" by Brokerages

Alerus Financial Co. (NASDAQ:ALRS - Get Free Report) has earned an average recommendation of "Hold" from the five research firms that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $23.20.

ALRS has been the subject of a number of research reports. Raymond James upgraded Alerus Financial from a "market perform" rating to an "outperform" rating and set a $24.00 price objective for the company in a research report on Tuesday, September 17th. Piper Sandler cut their target price on Alerus Financial from $24.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st.

Hedge Funds Weigh In On Alerus Financial

A number of hedge funds have recently modified their holdings of ALRS. Barclays PLC grew its position in Alerus Financial by 58.8% in the third quarter. Barclays PLC now owns 44,399 shares of the company's stock valued at $1,017,000 after acquiring an additional 16,436 shares during the period. Geode Capital Management LLC boosted its stake in shares of Alerus Financial by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 416,072 shares of the company's stock valued at $9,522,000 after purchasing an additional 15,966 shares in the last quarter. Zacks Investment Management grew its holdings in shares of Alerus Financial by 7.2% in the 3rd quarter. Zacks Investment Management now owns 102,713 shares of the company's stock worth $2,350,000 after purchasing an additional 6,903 shares during the last quarter. State Street Corp increased its position in shares of Alerus Financial by 1.0% during the 3rd quarter. State Street Corp now owns 351,775 shares of the company's stock worth $8,118,000 after purchasing an additional 3,623 shares in the last quarter. Finally, Harbor Advisors LLC acquired a new stake in shares of Alerus Financial during the 3rd quarter worth about $226,000. 51.25% of the stock is owned by institutional investors and hedge funds.

Alerus Financial Price Performance

Shares of ALRS traded up $0.15 during mid-day trading on Friday, hitting $22.04. The company's stock had a trading volume of 33,853 shares, compared to its average volume of 77,812. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.85 and a quick ratio of 0.85. Alerus Financial has a fifty-two week low of $18.09 and a fifty-two week high of $25.85. The firm has a 50-day moving average price of $22.43 and a 200 day moving average price of $21.15. The stock has a market capitalization of $558.45 million, a price-to-earnings ratio of 137.75 and a beta of 0.68.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.26 EPS 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 for the quarter, compared to analyst estimates of $52.30 million. During the same period in the prior year, the company posted $0.45 EPS. On average, research analysts predict that Alerus Financial will post 0.97 EPS for the current fiscal year.

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.