Alerus Financial (NASDAQ:ALRS) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Alerus Financial (NASDAQ:ALRS) had its price target raised by Keefe, Bruyette & Woods from $22.00 to $23.00 in a research report report published on Wednesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

A number of other equities research analysts have also commented on ALRS. Raymond James upgraded Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a research report on Tuesday, September 17th. Piper Sandler decreased their price target on shares of Alerus Financial from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Alerus Financial has an average rating of “Hold” and an average target price of $23.20.

Alerus Financial Stock Up 0.2 %

ALRS stock opened at $21.91 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $555.20 million, a P/E ratio of 136.95 and a beta of 0.69. Alerus Financial has a 52-week low of $18.09 and a 52-week high of $25.85. The company’s 50 day simple moving average is $22.42 and its 200-day simple moving average is $21.22.

Alerus Financial (NASDAQ:ALRS) last announced its earnings results on Tuesday, October 29th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.18). The firm had revenue of $80.58 million for the quarter, compared to analyst estimates of $52.30 million. Alerus Financial had a net margin of 1.01% and a return on equity of 6.02%. During the same period last year, the firm earned $0.45 earnings per share. As a group, equities research analysts anticipate that Alerus Financial will post 0.97 EPS for the current year.

Institutional Investors Weigh In On Alerus Financial

Several institutional investors have recently made changes to their positions in ALRS. Vanguard Group Inc. raised its position in Alerus Financial by 1.5% during the first quarter. Vanguard Group Inc. now owns 911,806 shares of the company’s stock valued at $19,905,000 after acquiring an additional 13,637 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Alerus Financial by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 416,072 shares of the company’s stock worth $9,522,000 after purchasing an additional 15,966 shares during the last quarter. State Street Corp raised its holdings in shares of Alerus Financial by 1.0% during the 3rd quarter. State Street Corp now owns 351,775 shares of the company’s stock valued at $8,118,000 after purchasing an additional 3,623 shares in the last quarter. Endeavour Capital Advisors Inc. lifted its stake in shares of Alerus Financial by 34.0% in the 2nd quarter. Endeavour Capital Advisors Inc. now owns 288,876 shares of the company’s stock valued at $5,665,000 after purchasing an additional 73,342 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Alerus Financial by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 274,615 shares of the company’s stock worth $5,384,000 after purchasing an additional 7,300 shares in the last quarter. 51.25% of the stock is currently owned by institutional investors and hedge funds.

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.