Alerus Financial (NASDAQ:ALRS) Announces Quarterly Earnings Results

Alerus Financial (NASDAQ:ALRS - Get Free Report) posted its earnings results on Tuesday. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.16, Zacks reports. Alerus Financial had a return on equity of 7.66% and a net margin of 6.26%.

Alerus Financial Stock Down 0.7 %

NASDAQ:ALRS traded down $0.15 on Friday, hitting $21.23. 51,760 shares of the company's stock were exchanged, compared to its average volume of 89,451. The company has a market cap of $537.84 million, a P/E ratio of 20.75 and a beta of 0.71. The firm has a 50-day moving average price of $20.44 and a 200-day moving average price of $21.48. 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 52 week low of $17.99 and a 52 week high of $24.69.

Alerus Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, December 27th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $0.80 annualized dividend and a yield of 3.77%. Alerus Financial's payout ratio is currently 78.43%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Piper Sandler lifted their price objective on Alerus Financial from $21.00 to $24.00 and gave the company a "neutral" rating in a report on Thursday. DA Davidson reaffirmed a "neutral" rating and issued a $23.00 price target on shares of Alerus Financial in a research note on Thursday. Keefe, Bruyette & Woods increased their price objective 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. Finally, Raymond James restated an "outperform" rating and set a $24.00 price objective (up from $22.00) on shares of Alerus Financial in a report on Thursday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Alerus Financial presently has a consensus rating of "Hold" and an average price target of $23.40.

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.