Alerus Financial (NASDAQ:ALRS - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.18), Yahoo Finance reports. Alerus Financial had a return on equity of 7.25% and a net margin of 2.39%. The company had revenue of $80.58 million during the quarter, compared to the consensus estimate of $52.30 million. During the same quarter in the prior year, the firm earned $0.45 earnings per share.
Alerus Financial Price Performance
Shares of NASDAQ:ALRS traded down $3.27 during trading on Wednesday, hitting $20.41. 108,549 shares of the company's stock were exchanged, compared to its average volume of 58,163. Alerus Financial has a 52-week low of $17.07 and a 52-week high of $25.85. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market cap of $403.67 million, a price-to-earnings ratio of 60.17 and a beta of 0.66. The business's 50-day simple moving average is $22.46 and its 200 day simple moving average is $20.91.
Alerus Financial Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 13th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend was Friday, September 13th. Alerus Financial's dividend payout ratio is currently 228.57%.
Analysts Set New Price Targets
A number of research firms have recently issued reports on ALRS. Raymond James upgraded Alerus Financial from a "market perform" rating to an "outperform" rating and set a $24.00 price target on the stock in a research note on Tuesday, September 17th. DA Davidson upped their price target on shares of Alerus Financial from $20.00 to $23.00 and gave the company a "neutral" rating in a research report on Thursday, August 1st. Keefe, Bruyette & Woods raised their price objective on shares of Alerus Financial from $22.00 to $23.00 and gave the stock a "market perform" rating in a report on Monday, July 29th. Finally, Piper Sandler increased their price target on shares of Alerus Financial from $22.50 to $24.00 and gave the stock a "neutral" rating in a research report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $23.40.
Read Our Latest Research Report on ALRS
About Alerus Financial
(
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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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