Alerus Financial (NASDAQ:ALRS) Posts Earnings Results, Misses Expectations By $0.06 EPS

Alerus Financial (NASDAQ:ALRS) announced its quarterly earnings results on Wednesday. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.06), Yahoo Finance reports. Alerus Financial had a return on equity of 7.30% and a net margin of 2.39%. The company had revenue of $80.39 million for the quarter, compared to analyst estimates of $49.20 million. During the same quarter in the previous year, the company posted $0.45 earnings per share.

Alerus Financial Stock Up 2.7 %

NASDAQ ALRS traded up $0.59 during trading on Friday, hitting $22.59. 10,154 shares of the company traded hands, compared to its average volume of 52,375. 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 business has a fifty day simple moving average of $19.56 and a 200 day simple moving average of $20.75. The company has a market capitalization of $446.83 million, a P/E ratio of 44.90 and a beta of 0.66. Alerus Financial has a 12 month low of $16.80 and a 12 month high of $25.85.

Alerus Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 14th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.54%. This is a positive change from Alerus Financial’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, June 14th. Alerus Financial’s dividend payout ratio (DPR) is currently 163.27%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Hovde Group upgraded Alerus Financial from a “market perform” rating to an “outperform” rating and raised their target price for the company from $21.00 to $23.00 in a research report on Thursday, May 16th. Piper Sandler decreased their target price on Alerus Financial from $23.50 to $22.50 and set a “neutral” rating for the company in a research report on Thursday, May 16th.

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.