Alerus Financial (NASDAQ:ALRS) Upgraded to "Strong-Buy" at Zacks Research

Key Points

• Zacks Research upgraded Alerus Financial to “Strong Buy” from “Hold.” Across analysts, the stock has a “Moderate Buy” consensus rating and an average price target of $36.25.
• Alerus reported quarterly EPS of $0.71, beating the $0.66 consensus, while revenue of $79.52 million topped estimates of $76.72 million.
• Shares opened at $34.35, near their 52-week high of $34.73; director Jeffrey Bolton also bought 1,000 shares at an average price of $32.45.

Alerus Financial (NASDAQ:ALRS - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Monday, Zacks reports.

A number of other analysts have also issued reports on ALRS. Keefe, Bruyette & Woods increased their target price on Alerus Financial from $32.00 to $34.00 and gave the company a "market perform" rating in a report on Friday, October 30th. Raymond James Financial reiterated an "outperform" rating and set a $37.00 price target on shares of Alerus Financial in a report on Monday, August 3rd. Weiss Ratings raised Alerus Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday. DA Davidson set a $36.00 price objective on Alerus Financial in a research note on Friday, July 31st. Finally, Wall Street Zen lowered Alerus Financial from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Alerus Financial presently has a consensus rating of "Moderate Buy" and an average price target of $36.25.

Alerus Financial Stock Performance

Alerus Financial stock opened at $34.35 on Monday. The firm's 50 day simple moving average is $32.43 and its 200-day simple moving average is $28.89. The company has a market cap of $856.35 million, a P/E ratio of 29.36 and a beta of 0.68. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.89. Alerus Financial has a fifty-two week low of $20.76 and a fifty-two week high of $34.73.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.05. Alerus Financial had a net margin of 7.35% and a return on equity of 14.48%. The business had revenue of $79.52 million for the quarter, compared to analyst estimates of $76.72 million. As a group, equities research analysts predict that Alerus Financial will post 3.13 EPS for the current year.

Insider Activity at Alerus Financial

In related news, Director Jeffrey Bolton purchased 1,000 shares of the company's stock in a transaction dated Tuesday, September 1st. The shares were acquired at an average cost of $32.45 per share, with a total value of $32,450.00. Following the completion of the purchase, the director owned 15,163 shares of the company's stock, valued at $492,039.35. The trade was a 7.06% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Alerus Financial

A number of institutional investors have recently bought and sold shares of the company. First Trust Advisors LP grew its position in Alerus Financial by 0.6% in the first quarter. First Trust Advisors LP now owns 81,208 shares of the company's stock worth $1,925,000 after acquiring an additional 503 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Alerus Financial during the 2nd quarter valued at $36,000. Legal & General Group Plc bought a new position in shares of Alerus Financial during the 2nd quarter valued at $73,000. Parallel Advisors LLC lifted its stake in shares of Alerus Financial by 2,313.0% in the 3rd quarter. Parallel Advisors LLC now owns 2,606 shares of the company's stock valued at $82,000 after purchasing an additional 2,498 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Alerus Financial in the 1st quarter valued at $90,000. Institutional investors and hedge funds own 51.25% of the company's stock.

Alerus Financial Company Profile

Alerus Financial Corporation is a diversified financial services company and the holding company for Alerus Financial, N.A. Through its banking subsidiary, the company provides consumer and commercial banking services, including checking and savings accounts, residential and commercial lending, treasury management, and digital banking solutions.

The company also offers wealth management, investment advisory, trust, retirement plan administration, and employee benefit services. These offerings are designed to serve individuals, families, businesses, nonprofit organizations, and employers through an integrated banking and financial planning model.

Alerus traces its roots to 1933 and serves clients through offices and operations in portions of the Upper Midwest and other selected U.S.

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