Alerus Financial (NASDAQ:ALRS - Free Report) had its target price lifted by Keefe, Bruyette & Woods from $22.00 to $25.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has a market perform rating on the stock.
Separately, Piper Sandler increased their target price on shares of Alerus Financial from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd.
Get Our Latest Research Report on Alerus Financial
Alerus Financial Price Performance
Shares of NASDAQ:ALRS traded down $0.70 during midday trading on Tuesday, reaching $20.44. 99,109 shares of the company were exchanged, compared to its average volume of 65,281. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11. The business's fifty day moving average is $21.73 and its two-hundred day moving average is $20.32. Alerus Financial has a one year low of $15.78 and a one year high of $24.41. The stock has a market cap of $518.56 million, a PE ratio of 12.09 and a beta of 0.71.
Alerus Financial (NASDAQ:ALRS - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.16. Alerus Financial had a net margin of 11.06% and a return on equity of 10.58%. The firm had revenue of $74.80 million during the quarter, compared to analyst estimates of $69.96 million. As a group, analysts predict that Alerus Financial will post 2.14 earnings per share for the current year.
Alerus Financial Increases Dividend
The firm also recently announced 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 represents a $0.84 annualized dividend and a yield of 4.1%. The ex-dividend date was Friday, June 27th. This is a positive change from Alerus Financial's previous quarterly dividend of $0.20. Alerus Financial's dividend payout ratio (DPR) is currently 49.70%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its holdings in shares of Alerus Financial by 457.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,277 shares of the company's stock valued at $25,000 after buying an additional 1,048 shares in the last quarter. Thompson Investment Management Inc. bought a new stake in shares of Alerus Financial in the 2nd quarter valued at about $32,000. Legal & General Group Plc boosted its holdings in shares of Alerus Financial by 32.7% in 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 in the last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of Alerus Financial by 31.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,349 shares of the company's stock valued at $45,000 after buying an additional 568 shares in the last quarter. Finally, State of Wyoming bought a new stake in shares of Alerus Financial in the 1st quarter valued at about $49,000. 51.25% of the stock is currently owned by institutional investors.
About Alerus Financial
(
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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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