Alerus Financial (NASDAQ:ALRS) Stock Rating Lowered by Wall Street Zen

Key Points

• Alerus Financial's rating was downgraded from "buy" to "hold" by Wall Street Zen in a recent research report.
• Several analysts have increased their price targets for Alerus Financial, with a consensus target price of $25.63 and an average rating of "hold."
• The company reported better-than-expected quarterly earnings, with an EPS of $0.72, surpassing analysts' estimates of $0.56.

Wall Street Zen cut shares of Alerus Financial (NASDAQ:ALRS - Free Report) from a buy rating to a hold rating in a research report report published on Sunday.

Other equities research analysts have also recently issued reports about the company. Raymond James Financial reiterated an "outperform" rating and issued a $27.00 price objective (up from $24.00) on shares of Alerus Financial in a report on Tuesday, July 29th. DA Davidson lifted their price objective on Alerus Financial from $20.00 to $25.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Piper Sandler lifted their price objective on Alerus Financial from $24.00 to $25.50 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Finally, Keefe, Bruyette & Woods lifted their price objective on Alerus Financial from $22.00 to $25.00 and gave the stock a "market perform" rating in a report on Tuesday, July 29th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Alerus Financial presently has a consensus rating of "Hold" and an average price target of $25.63.

Alerus Financial Stock Performance

ALRS stock traded down $0.16 during midday trading on Friday, reaching $21.44. The stock had a trading volume of 51,710 shares, compared to its average volume of 96,809. The stock has a market cap of $544.58 million, a PE ratio of 12.69 and a beta of 0.71. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.88. The firm has a fifty day simple moving average of $21.76 and a two-hundred day simple moving average of $20.42. Alerus Financial has a 52-week low of $15.78 and a 52-week high of $24.41.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.16. The business had revenue of $74.80 million during the quarter, compared to analyst estimates of $69.96 million. Alerus Financial had a return on equity of 10.21% and a net margin of 11.06%. As a group, equities research analysts anticipate that Alerus Financial will post 2.14 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ALRS. Legal & General Group Plc raised its position in shares of Alerus Financial by 32.7% during the 4th quarter. Legal & General Group Plc now owns 2,025 shares of the company's stock valued at $39,000 after buying an additional 499 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Alerus Financial by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,420 shares of the company's stock valued at $248,000 after purchasing an additional 546 shares during the period. Summit Investment Advisors Inc. raised its position in Alerus Financial by 31.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,349 shares of the company's stock valued at $45,000 after purchasing an additional 568 shares during the period. CWM LLC raised its position in Alerus Financial by 1.0% in the first quarter. CWM LLC now owns 59,755 shares of the company's stock valued at $1,103,000 after purchasing an additional 584 shares during the period. Finally, Hsbc Holdings PLC raised its position in Alerus Financial by 1.8% in the second quarter. Hsbc Holdings PLC now owns 33,576 shares of the company's stock valued at $734,000 after purchasing an additional 586 shares during the period. 51.25% of the stock is currently owned by institutional investors and hedge funds.

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.