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

Key Points

• Alerus Financial has a consensus “Hold” rating from seven analysts: six holds and one buy. The average 12-month price target is $35.50, above the reported $32.77 share price.
• Recent analyst actions have generally been cautious, including downgrades from Zacks Research, Wall Street Zen and Weiss Ratings, while Keefe, Bruyette & Woods and Piper Sandler raised their price targets.
• Institutional ownership stands at 51.25%, with several investors adding positions during the second quarter. Alerus also exceeded quarterly expectations, reporting $0.80 EPS versus $0.77 expected and revenue of $80 million versus a $76.99 million estimate.

Alerus Financial (NASDAQ:ALRS - Get Free Report) has received an average recommendation of "Hold" from the seven analysts that are presently covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $35.50.

ALRS has been the topic of several analyst reports. Zacks Research downgraded shares of Alerus Financial from a "strong-buy" rating to a "hold" rating in a report on Thursday. Keefe, Bruyette & Woods upped their target price on Alerus Financial from $29.00 to $32.00 and gave the company a "market perform" rating in a research note on Friday, July 31st. Wall Street Zen downgraded Alerus Financial from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Weiss Ratings cut Alerus Financial from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, August 17th. Finally, Piper Sandler upped their price objective on Alerus Financial from $32.00 to $37.00 and gave the company a "neutral" rating in a research report on Friday, July 31st.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its position in shares of Alerus Financial by 706.8% during the second quarter. California State Teachers Retirement System now owns 10,263 shares of the company's stock worth $330,000 after acquiring an additional 8,991 shares during the period. Susquehanna Fundamental Investments LLC grew its stake in Alerus Financial by 30.4% in the second quarter. Susquehanna Fundamental Investments LLC now owns 28,377 shares of the company's stock worth $883,000 after purchasing an additional 6,608 shares in the last quarter. Empowered Funds LLC bought a new position in Alerus Financial in the second quarter worth approximately $3,084,000. Bank of America Corp DE purchased a new position in Alerus Financial during the 2nd quarter worth $1,226,000. Finally, Basswood Capital Management L.L.C. bought a new stake in Alerus Financial during the 2nd quarter valued at $1,873,000. Hedge funds and other institutional investors own 51.25% of the company's stock.

Alerus Financial Stock Performance

NASDAQ ALRS opened at $32.77 on Monday. The business's 50 day moving average price is $32.00 and its 200-day moving average price is $27.96. Alerus Financial has a fifty-two week low of $20.31 and a fifty-two week high of $34.40. The company has a market cap of $816.07 million, a P/E ratio of 30.92 and a beta of 0.68. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.90.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. Alerus Financial had a return on equity of 14.41% and a net margin of 6.87%.The company had revenue of $80.00 million during the quarter, compared to the consensus estimate of $76.99 million. Sell-side analysts predict that Alerus Financial will post 3.03 earnings per share for the current year.

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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