Raymond James reiterated their outperform rating on shares of Alerus Financial (NASDAQ:ALRS - Free Report) in a research note published on Thursday,Benzinga reports. Raymond James currently has a $24.00 price target on the stock, up from their prior price target of $22.00.
Other equities analysts have also issued reports about the stock. Keefe, Bruyette & Woods lifted their price target on shares of Alerus Financial from $22.00 to $23.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Piper Sandler upped their target price on Alerus Financial from $21.00 to $24.00 and gave the company a "neutral" rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $23.40.
View Our Latest Analysis on ALRS
Alerus Financial Stock Up 1.0 %
Shares of NASDAQ:ALRS traded up $0.21 on Thursday, reaching $21.35. The company had a trading volume of 126,357 shares, compared to its average volume of 92,629. The firm has a market capitalization of $541.03 million, a PE ratio of 20.86 and a beta of 0.71. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. Alerus Financial has a 52-week low of $17.99 and a 52-week high of $24.41. The firm's 50 day simple moving average is $20.42 and its 200-day simple moving average is $21.48.
Alerus Financial (NASDAQ:ALRS - Get Free Report) last announced 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 net margin of 6.26% and a return on equity of 7.66%. As a group, analysts expect that Alerus Financial will post 2.14 earnings per share for the current fiscal year.
Alerus Financial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, December 27th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $0.80 dividend on an annualized basis and a yield of 3.75%. Alerus Financial's dividend payout ratio is currently 78.43%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of ALRS. New York State Common Retirement Fund raised its position in Alerus Financial by 41.7% during the 4th quarter. New York State Common Retirement Fund now owns 6,451 shares of the company's stock worth $124,000 after buying an additional 1,900 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Alerus Financial by 5.1% in the third quarter. Empowered Funds LLC now owns 46,937 shares of the company's stock worth $1,074,000 after acquiring an additional 2,278 shares during the period. SG Americas Securities LLC raised its holdings in shares of Alerus Financial by 41.6% during the fourth quarter. SG Americas Securities LLC now owns 8,812 shares of the company's stock worth $170,000 after purchasing an additional 2,590 shares during the last quarter. Inspire Investing LLC lifted its position in Alerus Financial by 14.9% during the fourth quarter. Inspire Investing LLC now owns 20,947 shares of the company's stock valued at $403,000 after purchasing an additional 2,717 shares during the period. Finally, State Street Corp grew its position in 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 during the period. 51.25% of the stock is currently owned by hedge funds and other institutional investors.
Alerus Financial Company Profile
(
Get Free Report)
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.
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