Alerus Financial Co. (NASDAQ:ALRS) Receives $23.20 Consensus Target Price from Analysts

Shares of Alerus Financial Co. (NASDAQ:ALRS - Get Free Report) have been assigned an average rating of "Hold" from the five analysts that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $23.20.

Several equities research analysts have weighed in on the stock. 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. Raymond James upgraded Alerus Financial from a "market perform" rating to an "outperform" rating and set a $24.00 target price on the stock in a research note on Tuesday, September 17th. Finally, Piper Sandler reduced their target price on Alerus Financial from $24.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, October 31st.

Alerus Financial Stock Up 0.4 %

Shares of NASDAQ ALRS traded up $0.07 during mid-day trading on Thursday, reaching $19.77. 93,853 shares of the company were exchanged, compared to its average volume of 62,404. Alerus Financial has a 1 year low of $18.09 and a 1 year high of $25.85. The firm has a 50-day moving average of $21.84 and a 200 day moving average of $21.38. The stock has a market cap of $500.93 million, a price-to-earnings ratio of 123.57 and a beta of 0.69. 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 (NASDAQ:ALRS - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.18). Alerus Financial had a net margin of 1.01% and a return on equity of 6.02%. The firm had revenue of $80.58 million for the quarter, compared to analysts' expectations of $52.30 million. During the same period in the previous year, the company posted $0.45 earnings per share. On average, research analysts expect that Alerus Financial will post 0.97 earnings per share for the current year.

Alerus Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, December 27th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.80 dividend on an annualized basis and a yield of 4.05%. Alerus Financial's dividend payout ratio (DPR) is 500.00%.

Institutional Investors Weigh In On Alerus Financial

Large investors have recently bought and sold shares of the company. Federated Hermes Inc. raised its stake in shares of Alerus Financial by 380.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,519 shares of the company's stock valued at $30,000 after buying an additional 1,203 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Alerus Financial during the third quarter worth about $142,000. Harbor Advisors LLC acquired a new position in Alerus Financial in the third quarter valued at approximately $226,000. Inspire Investing LLC acquired a new position in Alerus Financial in the third quarter valued at approximately $417,000. Finally, Walleye Capital LLC purchased a new stake in Alerus Financial in the 3rd quarter worth approximately $424,000. Hedge funds and other 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.