Alerus Financial (NASDAQ:ALRS) Given Neutral Rating at DA Davidson

Alerus Financial (NASDAQ:ALRS - Get Free Report)'s stock had its "neutral" rating reissued by equities researchers at DA Davidson in a report released on Thursday,Benzinga reports. They presently have a $23.00 price target on the stock. DA Davidson's target price indicates a potential upside of 7.88% from the stock's current price. DA Davidson also issued estimates for Alerus Financial's Q1 2025 earnings at $0.44 EPS.

Other analysts have also issued research reports about the stock. Piper Sandler lifted their price objective on shares of Alerus Financial from $21.00 to $24.00 and gave the stock a "neutral" rating in a research report on Thursday. 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. Finally, Raymond James reissued 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 research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Alerus Financial presently has an average rating of "Hold" and a consensus price target of $23.40.

Alerus Financial Stock Performance

Shares of ALRS stock traded up $0.18 during trading on Thursday, hitting $21.32. The company's stock had a trading volume of 161,165 shares, compared to its average volume of 92,812. The business has a fifty day moving average of $20.42 and a 200-day moving average of $21.48. The company has a market cap of $540.25 million, a PE ratio of 20.90 and a beta of 0.71. Alerus Financial has a 52 week low of $17.99 and a 52 week high of $24.41. 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 (NASDAQ:ALRS - Get Free Report) last announced its earnings results on Tuesday, January 28th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.16. Alerus Financial had a return on equity of 7.66% and a net margin of 6.26%. As a group, research analysts anticipate that Alerus Financial will post 2.14 earnings per share for the current year.

Institutional Trading of Alerus Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Stieven Capital Advisors L.P. bought a new stake in shares of Alerus Financial during the third quarter valued at about $5,966,000. Grace & White Inc. NY bought a new position in shares of Alerus Financial in the fourth quarter valued at approximately $4,930,000. Choreo LLC purchased a new position in Alerus Financial during the fourth quarter valued at approximately $2,620,000. Empowered Funds LLC lifted its stake in Alerus Financial by 70.8% in the 4th quarter. Empowered Funds LLC now owns 80,184 shares of the company's stock worth $1,543,000 after purchasing an additional 33,247 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in Alerus Financial by 191.1% in the 2nd quarter. Squarepoint Ops LLC now owns 46,839 shares of the company's stock valued at $919,000 after purchasing an additional 30,750 shares during the period. 51.25% of the stock is currently owned by institutional investors.

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.