Alerus Financial Co. Expected to Earn Q3 2024 Earnings of $0.46 Per Share (NASDAQ:ALRS)

Alerus Financial Co. (NASDAQ:ALRS) – Equities researchers at DA Davidson issued their Q3 2024 earnings estimates for Alerus Financial in a report released on Thursday, August 1st. DA Davidson analyst J. Rulis expects that the company will earn $0.46 per share for the quarter. DA Davidson currently has a “Neutral” rating and a $23.00 target price on the stock. The consensus estimate for Alerus Financial’s current full-year earnings is $1.20 per share. DA Davidson also issued estimates for Alerus Financial’s FY2025 earnings at $2.05 EPS.

Alerus Financial (NASDAQ:ALRS) last issued its earnings results on Wednesday, July 24th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.06). Alerus Financial had a net margin of 2.39% and a return on equity of 7.30%. The company had revenue of $80.39 million during the quarter, compared to analysts’ expectations of $49.20 million. During the same quarter in the previous year, the company earned $0.45 earnings per share.

Several other research firms have also commented on ALRS. Piper Sandler lifted their price target on shares of Alerus Financial from $22.50 to $24.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods raised their price objective on Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Finally, Hovde Group raised shares of Alerus Financial from a “market perform” rating to an “outperform” rating and upped their target price for the company from $21.00 to $23.00 in a research report on Thursday, May 16th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $23.25.

Alerus Financial Price Performance

Alerus Financial stock opened at $20.91 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. The stock has a market cap of $413.54 million, a P/E ratio of 42.67 and a beta of 0.66. The company has a 50-day moving average price of $19.85 and a 200 day moving average price of $20.77. Alerus Financial has a 12-month low of $16.80 and a 12-month high of $25.85.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ALRS. SG Americas Securities LLC increased its position in shares of Alerus Financial by 25.3% in the 4th quarter. SG Americas Securities LLC now owns 9,784 shares of the company’s stock valued at $219,000 after purchasing an additional 1,974 shares during the last quarter. Sippican Capital Advisors raised its stake in Alerus Financial by 93.6% in the fourth quarter. Sippican Capital Advisors now owns 60,205 shares of the company’s stock valued at $1,348,000 after buying an additional 29,115 shares in the last quarter. Harbor Advisors LLC purchased a new stake in Alerus Financial during the 4th quarter worth about $221,000. Cutler Capital Management LLC increased its holdings in shares of Alerus Financial by 0.5% in the 4th quarter. Cutler Capital Management LLC now owns 157,480 shares of the company’s stock valued at $3,526,000 after acquiring an additional 829 shares during the last quarter. Finally, Wealth Forward LLC acquired a new stake in shares of Alerus Financial during the 4th quarter worth about $1,242,000. 51.25% of the stock is currently owned by hedge funds and other institutional investors.

Alerus Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.83%. This is a positive change from Alerus Financial’s previous quarterly dividend of $0.19. Alerus Financial’s dividend payout ratio is currently 163.27%.

Alerus Financial Company Profile

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.