Alerus Financial (NASDAQ:ALRS) Price Target Raised to $24.00 at Piper Sandler

Alerus Financial (NASDAQ:ALRS - Get Free Report) had its target price upped by research analysts at Piper Sandler from $21.00 to $24.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Piper Sandler's target price would suggest a potential upside of 13.45% from the stock's previous close.

ALRS has been the subject of several other research reports. Raymond James started coverage on shares of Alerus Financial in a research report on Tuesday, January 14th. They set an "outperform" rating and a $22.00 price objective for the company. 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 research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alerus Financial presently has a consensus rating of "Hold" and an average target price of $23.40.

Alerus Financial Stock Performance

ALRS stock traded up $0.02 during trading on Thursday, reaching $21.16. 121,036 shares of the company's stock were exchanged, compared to its average volume of 91,221. Alerus Financial has a 1-year low of $17.99 and a 1-year high of $24.41. The firm has a market cap of $536.07 million, a PE ratio of 20.74 and a beta of 0.71. The company's fifty day moving average price is $20.42 and its 200-day moving average price is $21.48. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.16. Alerus Financial had a net margin of 6.26% and a return on equity of 7.66%. On average, research analysts expect that Alerus Financial will post 2.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Alerus Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALRS. New York State Common Retirement Fund boosted its stake in shares of 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 valued at $124,000 after buying an additional 1,900 shares during the period. Empowered Funds LLC raised its stake in shares of Alerus Financial by 5.1% during the 3rd quarter. Empowered Funds LLC now owns 46,937 shares of the company's stock worth $1,074,000 after purchasing an additional 2,278 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Alerus Financial by 41.6% during the 4th quarter. SG Americas Securities LLC now owns 8,812 shares of the company's stock valued at $170,000 after buying an additional 2,590 shares during the last quarter. Inspire Investing LLC grew its stake in shares of Alerus Financial by 14.9% in the 4th quarter. Inspire Investing LLC now owns 20,947 shares of the company's stock valued at $403,000 after buying an additional 2,717 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Alerus Financial by 1.0% in the 3rd quarter. State Street Corp now owns 351,775 shares of the company's stock valued at $8,118,000 after buying an additional 3,623 shares in the last quarter. 51.25% of the stock is currently owned by hedge funds and other 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.