Alerus Financial (NASDAQ:ALRS) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Alerus Financial (NASDAQ:ALRS) has received a consensus rating of "Hold" from five research firms, with four analysts recommending a hold and one giving a buy rating.
• The average 1-year target price for Alerus Financial is $25.63, with recent analyst upgrades indicating positive sentiment regarding the stock's future performance.
• The company announced a quarterly dividend of $0.21 per share, yielding approximately 3.8%, with an ex-dividend date set for September 26th.

Alerus Financial (NASDAQ:ALRS - Get Free Report) has been assigned a consensus rating of "Hold" from the five research firms that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $25.6250.

Several analysts recently weighed in on ALRS shares. Weiss Ratings reissued a "hold (c+)" rating on shares of Alerus Financial in a research note on Saturday, September 27th. Raymond James Financial reissued an "outperform" rating and issued a $27.00 price objective (up previously from $24.00) on shares of Alerus Financial in a research note on Tuesday, July 29th. Keefe, Bruyette & Woods upped their price target on shares of Alerus Financial from $22.00 to $25.00 and gave the company a "market perform" rating in a research report on Tuesday, July 29th. Piper Sandler upped their price target on shares of Alerus Financial from $24.00 to $25.50 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Finally, Wall Street Zen cut shares of Alerus Financial from a "buy" rating to a "hold" rating in a research report on Sunday, August 17th.

Hedge Funds Weigh In On Alerus Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC raised its holdings in shares of Alerus Financial by 60.8% in the 1st quarter. Cubist Systematic Strategies LLC now owns 36,791 shares of the company's stock worth $679,000 after acquiring an additional 13,907 shares during the last quarter. Keeley Teton Advisors LLC increased its stake in shares of Alerus Financial by 34.3% during the 1st quarter. Keeley Teton Advisors LLC now owns 227,455 shares of the company's stock worth $4,199,000 after purchasing an additional 58,036 shares during the last quarter. Two Sigma Investments LP grew its stake in Alerus Financial by 34.8% in the 4th quarter. Two Sigma Investments LP now owns 67,188 shares of the company's stock valued at $1,293,000 after buying an additional 17,360 shares in the last quarter. Sippican Capital Advisors grew its stake in Alerus Financial by 18.5% in the 1st quarter. Sippican Capital Advisors now owns 100,985 shares of the company's stock valued at $1,864,000 after buying an additional 15,780 shares in the last quarter. Finally, Aviance Capital Partners LLC purchased a new position in Alerus Financial in the 1st quarter valued at approximately $242,000. Institutional investors own 51.25% of the company's stock.

Alerus Financial Trading Up 1.0%

Shares of Alerus Financial stock traded up $0.21 during trading on Friday, hitting $22.02. The company's stock had a trading volume of 79,612 shares, compared to its average volume of 88,208. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.88 and a quick ratio of 0.87. Alerus Financial has a 52 week low of $15.78 and a 52 week high of $24.41. The stock has a market cap of $559.31 million, a price-to-earnings ratio of 13.03 and a beta of 0.70. The stock has a 50-day moving average price of $22.11 and a two-hundred day moving average price of $20.89.

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

Alerus Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, September 26th. Alerus Financial's dividend payout ratio is 49.70%.

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.

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