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Keefe, Bruyette & Woods Increases Alerus Financial (NASDAQ:ALRS) Price Target to $25.00

Alerus Financial logo with Finance background

Key Points

  • Keefe, Bruyette & Woods raised Alerus Financial's price target from $22.00 to $25.00, indicating a potential upside of 8.37% from the previous closing price.
  • Alerus Financial reported earnings of $0.72 per share for the last quarter, surpassing analysts' expectations of $0.56.
  • Institutional investors own 51.25% of Alerus Financial stock, with several increasing their stakes in the company recently.
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Alerus Financial (NASDAQ:ALRS - Free Report) had its price objective lifted by Keefe, Bruyette & Woods from $22.00 to $25.00 in a report released on Tuesday morning,Benzinga reports. They currently have a market perform rating on the stock.

Separately, Piper Sandler upped their target price on Alerus Financial from $22.00 to $23.00 and gave the company a "neutral" rating in a report on Friday, May 2nd.

Get Our Latest Stock Analysis on Alerus Financial

Alerus Financial Trading Down 3.6%

ALRS stock traded down $0.80 during trading on Tuesday, reaching $21.69. 83,565 shares of the stock traded hands, compared to its average volume of 62,395. The business's 50 day moving average price is $21.73 and its 200-day moving average price is $20.30. Alerus Financial has a 52-week low of $15.78 and a 52-week high of $24.41. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $550.28 million, a PE ratio of 12.83 and a beta of 0.70.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.16. Alerus Financial had a return on equity of 10.58% and a net margin of 11.06%. The company had revenue of $74.80 million for the quarter, compared to analysts' expectations of $69.96 million. As a group, sell-side analysts forecast that Alerus Financial will post 2.14 earnings per share for the current year.

Alerus Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were issued a dividend of $0.21 per share. This is an increase from Alerus Financial's previous quarterly dividend of $0.20. The ex-dividend date was Friday, June 27th. This represents a $0.84 annualized dividend and a yield of 3.87%. Alerus Financial's dividend payout ratio is currently 68.85%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ALRS. Alliancebernstein L.P. grew its holdings in Alerus Financial by 2,346.3% during the 4th quarter. Alliancebernstein L.P. now owns 287,931 shares of the company's stock worth $5,540,000 after acquiring an additional 276,161 shares during the period. Barclays PLC grew its holdings in Alerus Financial by 8.1% during the 4th quarter. Barclays PLC now owns 48,001 shares of the company's stock worth $924,000 after acquiring an additional 3,602 shares during the period. Dimensional Fund Advisors LP grew its holdings in Alerus Financial by 120.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 666,559 shares of the company's stock worth $12,824,000 after acquiring an additional 363,617 shares during the period. Endeavour Capital Advisors Inc. grew its holdings in Alerus Financial by 77.3% during the 4th quarter. Endeavour Capital Advisors Inc. now owns 527,283 shares of the company's stock worth $10,145,000 after acquiring an additional 229,932 shares during the period. Finally, MetLife Investment Management LLC grew its holdings in Alerus Financial by 24.6% during the 4th quarter. MetLife Investment Management LLC now owns 13,275 shares of the company's stock worth $255,000 after acquiring an additional 2,620 shares during the period. Institutional investors and hedge funds own 51.25% of the company's stock.

About Alerus Financial

(Get Free Report)

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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