Alerus Financial (NASDAQ:ALRS) Announces Earnings Results, Misses Expectations By $0.18 EPS

Alerus Financial (NASDAQ:ALRS) announced its quarterly earnings data 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 net margin of 1.01% and a return on equity of 6.08%. The business had revenue of $80.58 million during the quarter, compared to analysts’ expectations of $52.30 million. During the same period in the prior year, the firm earned $0.45 EPS.

Alerus Financial Stock Down 0.8 %

Alerus Financial stock opened at $20.23 on Friday. Alerus Financial has a fifty-two week low of $17.07 and a fifty-two 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 firm has a market capitalization of $400.15 million, a price-to-earnings ratio of 126.45 and a beta of 0.66. The company’s 50 day simple moving average is $22.41 and its 200 day simple moving average is $20.90.

Alerus Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 13th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, September 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.95%. Alerus Financial’s dividend payout ratio (DPR) is presently 500.03%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Piper Sandler cut their target price on shares of Alerus Financial from $24.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday. 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. Raymond James raised Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price target on the stock in a research report on Tuesday, September 17th. Finally, DA Davidson upped their target price on Alerus Financial from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Alerus Financial presently has an average rating of “Hold” and a consensus price target of $23.20.

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.