Analysts Set Alerus Financial Co. (NASDAQ:ALRS) Price Target at $23.40

Alerus Financial Co. (NASDAQ:ALRS - Get Free Report) has received a consensus rating of "Hold" from the five ratings firms that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $23.40.

ALRS has been the subject of several recent analyst reports. Piper Sandler lifted their target price on shares of Alerus Financial from $21.00 to $24.00 and gave the stock a "neutral" rating in a report on Thursday, January 30th. DA Davidson reaffirmed a "neutral" rating and issued a $23.00 price objective on shares of Alerus Financial in a research report on Thursday, January 30th. Raymond James reissued an "outperform" rating and issued a $24.00 target price (up previously from $22.00) on shares of Alerus Financial in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods upped their price target on Alerus Financial from $22.00 to $23.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th.

Institutional Trading of Alerus Financial

A number of hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of Alerus Financial by 207.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 24,214 shares of the company's stock valued at $554,000 after purchasing an additional 16,336 shares during the period. Barclays PLC grew its position in Alerus Financial by 58.8% during the third quarter. Barclays PLC now owns 44,399 shares of the company's stock valued at $1,017,000 after buying an additional 16,436 shares during the period. Choreo LLC purchased a new stake in Alerus Financial during the fourth quarter valued at approximately $2,620,000. Stieven Capital Advisors L.P. bought a new position in Alerus Financial in the third quarter worth approximately $5,966,000. Finally, Empowered Funds LLC boosted its stake in shares of Alerus Financial by 70.8% during the 4th quarter. Empowered Funds LLC now owns 80,184 shares of the company's stock worth $1,543,000 after acquiring an additional 33,247 shares during the last quarter. Hedge funds and other institutional investors own 51.25% of the company's stock.

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Alerus Financial Stock Up 0.3 %

Shares of ALRS stock traded up $0.06 during trading hours on Tuesday, hitting $18.29. 85,792 shares of the company's stock traded hands, compared to its average volume of 74,496. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15. The stock has a market cap of $463.43 million, a price-to-earnings ratio of 17.93 and a beta of 0.74. The stock's fifty day simple moving average is $20.23 and its two-hundred day simple moving average is $21.32. Alerus Financial has a 12-month low of $17.95 and a 12-month high of $24.41.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last released its earnings results on Tuesday, January 28th. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.16. Alerus Financial had a return on equity of 7.66% and a net margin of 6.26%. On average, analysts expect that Alerus Financial will post 2.14 EPS for the current year.

Alerus Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 14th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.37%. Alerus Financial's dividend payout ratio (DPR) is currently 78.43%.

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.