Alerus Financial (NASDAQ:ALRS) Now Covered by Analysts at Raymond James

Equities research analysts at Raymond James began coverage on shares of Alerus Financial (NASDAQ:ALRS - Get Free Report) in a research report issued on Tuesday. The firm set an "outperform" rating and a $22.00 price target on the stock. Raymond James' price target suggests a potential upside of 14.11% from the company's current price.

Several other research firms have also commented on ALRS. Piper Sandler lowered 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. Keefe, Bruyette & Woods upped their target price on shares of Alerus Financial from $22.00 to $23.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Alerus Financial has an average rating of "Hold" and a consensus target price of $22.80.

Alerus Financial Stock Performance

ALRS traded up $0.58 on Tuesday, hitting $19.28. 89,848 shares of the company's stock were exchanged, compared to its average volume of 81,569. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average of $21.00 and a two-hundred day moving average of $21.46. Alerus Financial has a twelve month low of $17.99 and a twelve month high of $25.85. The firm has a market cap of $488.52 million, a PE ratio of 120.51 and a beta of 0.71.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.18). The company had revenue of $80.58 million during the quarter, compared to the consensus estimate of $52.30 million. Alerus Financial had a return on equity of 6.02% and a net margin of 1.01%. During the same period last year, the business posted $0.45 EPS. On average, research analysts anticipate that Alerus Financial will post 0.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alerus Financial

Large investors have recently made changes to their positions in the business. Federated Hermes Inc. grew its holdings 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 acquiring an additional 1,203 shares during the last quarter. SG Americas Securities LLC purchased a new position in Alerus Financial during the 3rd quarter worth approximately $142,000. Harbor Advisors LLC purchased a new stake in shares of Alerus Financial in the third quarter valued at $226,000. Inspire Investing LLC acquired a new stake in shares of Alerus Financial in the third quarter worth $417,000. Finally, Walleye Capital LLC purchased a new position in shares of Alerus Financial during the third quarter valued at $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.