DA Davidson Forecasts Reduced Earnings for Alerus Financial

Alerus Financial Co. (NASDAQ:ALRS - Free Report) - Equities researchers at DA Davidson decreased their FY2024 earnings per share (EPS) estimates for Alerus Financial in a note issued to investors on Thursday, October 31st. DA Davidson analyst J. Rulis now forecasts that the company will earn $0.93 per share for the year, down from their prior estimate of $1.20. DA Davidson has a "Neutral" rating and a $23.00 price target on the stock. The consensus estimate for Alerus Financial's current full-year earnings is $1.14 per share. DA Davidson also issued estimates for Alerus Financial's FY2025 earnings at $1.90 EPS.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.18). The business had revenue of $80.58 million during the quarter, compared to analyst estimates of $52.30 million. Alerus Financial had a net margin of 1.01% and a return on equity of 6.08%. During the same quarter in the prior year, the company posted $0.45 earnings per share.

A number of other brokerages have also issued reports on ALRS. Piper Sandler cut their target price on Alerus Financial from $24.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday. Raymond James raised Alerus Financial from a "market perform" rating to an "outperform" rating and set a $24.00 target price on the stock in a research report on Tuesday, September 17th. Finally, Keefe, Bruyette & Woods boosted their target price on Alerus Financial from $22.00 to $23.00 and gave the company a "market perform" rating in a research report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $23.20.

Alerus Financial Trading Down 0.2 %

NASDAQ ALRS traded down $0.04 on Monday, reaching $20.08. The stock had a trading volume of 54,872 shares, compared to its average volume of 58,476. The firm has a market capitalization of $397.18 million, a price-to-earnings ratio of 125.51 and a beta of 0.68. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.16. Alerus Financial has a 12-month low of $17.35 and a 12-month high of $25.85. The stock has a fifty day moving average price of $22.37 and a two-hundred day moving average price of $20.92.

Institutional Trading of Alerus Financial

A number of large investors have recently modified their holdings of ALRS. Federated Hermes Inc. increased its holdings in Alerus Financial by 380.7% in the second quarter. Federated Hermes Inc. now owns 1,519 shares of the company's stock valued at $30,000 after buying an additional 1,203 shares during the last quarter. SG Americas Securities LLC purchased a new position in Alerus Financial in the third quarter valued at $142,000. Bailard Inc. acquired a new stake in shares of Alerus Financial during the second quarter worth about $265,000. Inspire Investing LLC acquired a new stake in shares of Alerus Financial during the third quarter worth about $417,000. Finally, Acadian Asset Management LLC boosted its stake in shares of Alerus Financial by 4,147.8% during the first quarter. Acadian Asset Management LLC now owns 26,294 shares of the company's stock worth $573,000 after buying an additional 25,675 shares during the period. Hedge funds and other institutional investors own 51.25% of the company's stock.

Alerus Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 13th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date was Friday, September 13th. Alerus Financial's dividend payout ratio is currently 500.03%.

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.