Analysts Set Alerus Financial Co. (NASDAQ:ALRS) Price Target at $22.80

Shares of Alerus Financial Co. (NASDAQ:ALRS) have been given an average recommendation of “Hold” by the five brokerages that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $22.80.

A number of research analysts have issued reports on ALRS shares. 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. Raymond James initiated coverage on shares of Alerus Financial in a report on Tuesday, January 14th. They issued an “outperform” rating and a $22.00 price target for the company. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

Hedge Funds Weigh In On Alerus Financial

A number of institutional investors have recently bought and sold shares of ALRS. Stieven Capital Advisors L.P. purchased a new position in Alerus Financial during the third quarter worth about $5,966,000. Endeavour Capital Advisors Inc. increased its position in shares of Alerus Financial by 34.0% during the second quarter. Endeavour Capital Advisors Inc. now owns 288,876 shares of the company’s stock valued at $5,665,000 after acquiring an additional 73,342 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of Alerus Financial by 191.1% during the second quarter. Squarepoint Ops LLC now owns 46,839 shares of the company’s stock valued at $919,000 after acquiring an additional 30,750 shares during the last quarter. Foundry Partners LLC acquired a new stake in shares of Alerus Financial during the third quarter valued at about $530,000. Finally, Walleye Capital LLC acquired a new stake in shares of Alerus Financial during the third quarter valued at about $424,000. 51.25% of the stock is owned by hedge funds and other institutional investors.

Alerus Financial Trading Down 0.5 %

NASDAQ ALRS opened at $19.83 on Monday. The company has a fifty day simple moving average of $20.53 and a two-hundred day simple moving average of $21.49. The stock has a market cap of $502.49 million, a P/E ratio of 123.95 and a beta of 0.71. Alerus Financial has a 12-month low of $17.99 and a 12-month high of $25.85. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15.

Alerus Financial (NASDAQ:ALRS) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.18). The company had revenue of $80.58 million during the quarter, compared to analysts’ expectations of $52.30 million. Alerus Financial had a return on equity of 6.02% and a net margin of 1.01%. During the same period in the prior year, the business posted $0.45 EPS. On average, analysts forecast that Alerus Financial will post 0.71 earnings per share for the current year.

Alerus Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, December 27th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend was Friday, December 27th. Alerus Financial’s dividend payout ratio (DPR) is presently 500.03%.

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.