Alerus Financial (NASDAQ:ALRS) Rating Lowered to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded Alerus Financial to “Hold” from “Buy.” Despite the downgrade, analysts’ consensus remains “Moderate Buy,” with an average price target of $34.75.
• Alerus Financial’s shares opened at $33.27, near their 52-week high of $34.15, and have risen above both their 50-day and 200-day moving averages.
• The company exceeded quarterly expectations, reporting $0.80 EPS versus the $0.77 estimate and revenue of $80.0 million versus the $76.99 million consensus. Institutional investors and hedge funds own 51.25% of the stock.

Alerus Financial (NASDAQ:ALRS - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts have also issued reports on the company. Keefe, Bruyette & Woods upped their price target on Alerus Financial from $29.00 to $32.00 and gave the company a "market perform" rating in a research report on Friday. DA Davidson set a $36.00 target price on shares of Alerus Financial in a research note on Friday. Raymond James Financial began coverage on shares of Alerus Financial in a research report on Thursday, July 9th. They issued an "outperform" rating and a $34.00 price target on the stock. Zacks Research upgraded shares of Alerus Financial from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 4th. Finally, Weiss Ratings raised shares of Alerus Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Alerus Financial has an average rating of "Moderate Buy" and an average target price of $34.75.

Alerus Financial Stock Down 0.9%

NASDAQ:ALRS opened at $33.27 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $836.08 million, a price-to-earnings ratio of 31.39 and a beta of 0.68. Alerus Financial has a one year low of $20.26 and a one year high of $34.15. The stock has a 50-day simple moving average of $30.65 and a 200 day simple moving average of $26.95.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. Alerus Financial had a return on equity of 14.53% and a net margin of 6.87%.The firm had revenue of $80.00 million for the quarter, compared to analysts' expectations of $76.99 million. Sell-side analysts predict that Alerus Financial will post 3.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Alerus Financial

Several hedge funds and other institutional investors have recently made changes to their positions in ALRS. Vanguard Group Inc. raised its stake in Alerus Financial by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,269,253 shares of the company's stock valued at $28,101,000 after acquiring an additional 16,779 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Alerus Financial by 6.8% during the first quarter. Dimensional Fund Advisors LP now owns 886,815 shares of the company's stock valued at $21,027,000 after purchasing an additional 56,763 shares during the period. Geode Capital Management LLC raised its stake in shares of Alerus Financial by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 603,392 shares of the company's stock valued at $13,591,000 after purchasing an additional 23,403 shares in the last quarter. Endeavour Capital Advisors Inc. lifted its holdings in Alerus Financial by 0.5% in the fourth quarter. Endeavour Capital Advisors Inc. now owns 516,532 shares of the company's stock worth $11,632,000 after purchasing an additional 2,597 shares during the period. Finally, State Street Corp grew its position in Alerus Financial by 0.9% in the 4th quarter. State Street Corp now owns 476,030 shares of the company's stock valued at $10,819,000 after buying an additional 4,284 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 NASDAQ: ALRS is a diversified financial services company headquartered in Grand Forks, North Dakota. The firm provides a full range of commercial and consumer banking products, including deposit accounts, lending solutions and treasury management services for individuals, small businesses and larger corporate clients. Through its community banking network, Alerus emphasizes local decision-making and personalized service to meet the needs of its varied client base.

In addition to traditional banking offerings, Alerus operates a national mortgage origination and servicing platform that delivers home purchase and refinance loans.

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