#3 - HMN Financial (NASDAQ:HMNF)
Next on the list of golden cross stocks is HMN Financial Inc. (NASDAQ: HMNF). This is a holding company for the retail banker, Home Federal Savings Bank, which does business primarily in Minnesota but also in Wisconsin and Iowa. At the end of March 2024, the bank recorded $1.2 billion in assets, of which $872.3 million were in the form of loans and $1 billion in total deposits.
The catalyst for the Golden Cross action is the announcement that Alerus Financial Corporation (NASDAQ: ALRS) is buying the bank for approximately $116.4 million. The all-share deal is expected to close in the fourth quarter of 2024. This will be Alerus Financial’s 26th acquisition since 2000.
In the merger announcement, Alerus stated that HMNF shareholders would receive 1.25 shares of ALRS stock for each share of common stock they own. Investors looking to get involved must be shareholders of record before the merger is finalized.
About HMN Financial
HMN Financial, Inc operates as a bank holding company for Home Federal Savings Bank that provides various retail banking products and services. The company offers various deposit accounts, such as savings, interest bearing checking, non-interest-bearing checking, money market, individual retirement, and certificate accounts.
Read More - Current Price
- $27.99
- Consensus Rating
- N/A
- Ratings Breakdown
- 0 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
