Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Alerus Financial (NASDAQ:ALRS) Stock

Key Points

• Keefe, Bruyette & Woods raised Alerus Financial’s price target from $32 to $34 while maintaining a “market perform” rating, implying approximately 1.74% upside. The broader analyst consensus remains “Hold,” with a $36.25 average target.
• Alerus Financial reported quarterly EPS of $0.71, exceeding the $0.66 consensus estimate, while revenue reached $79.52 million versus expectations of $76.72 million.
• The stock traded at $33.42, near its 52-week high of $34.40. Institutional investors own 51.25% of the company, and a director recently purchased 1,000 shares.

Alerus Financial (NASDAQ:ALRS - Get Free Report) had its price objective hoisted by research analysts at Keefe, Bruyette & Woods from $32.00 to $34.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a "market perform" rating on the stock. Keefe, Bruyette & Woods's price objective points to a potential upside of 1.74% from the company's current price.

Several other analysts have also recently commented on the company. Raymond James Financial reiterated an "outperform" rating and issued a $37.00 target price on shares of Alerus Financial in a report on Monday, August 3rd. Zacks Research lowered shares of Alerus Financial from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 20th. Piper Sandler upgraded shares of Alerus Financial from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $37.00 to $38.00 in a report on Friday, October 2nd. DA Davidson set a $36.00 price target on shares of Alerus Financial in a research report on Friday, July 31st. Finally, Weiss Ratings downgraded Alerus Financial from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, October 16th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Alerus Financial has a consensus rating of "Hold" and a consensus price target of $36.25.

Alerus Financial Trading Up 1.2%

Alerus Financial stock traded up $0.39 during trading hours on Friday, hitting $33.42. The stock had a trading volume of 1,318 shares, compared to its average volume of 173,691. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. The stock has a market cap of $833.16 million, a price-to-earnings ratio of 28.59 and a beta of 0.69. Alerus Financial has a one year low of $20.31 and a one year high of $34.40. The business's 50 day simple moving average is $32.35 and its 200-day simple moving average is $28.73.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.05. Alerus Financial had a net margin of 7.35% and a return on equity of 14.48%. The firm had revenue of $79.52 million during the quarter, compared to analysts' expectations of $76.72 million. On average, equities analysts predict that Alerus Financial will post 3.04 EPS for the current fiscal year.

Insider Activity at Alerus Financial

In other Alerus Financial news, Director Jeffrey Bolton bought 1,000 shares of the firm's stock in a transaction dated Tuesday, September 1st. The stock was purchased at an average cost of $32.45 per share, with a total value of $32,450.00. Following the transaction, the director directly owned 15,163 shares in the company, valued at $492,039.35. This trade represents a 7.06% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC purchased a new position in shares of Alerus Financial in the second quarter worth about $36,000. Legal & General Group Plc bought a new position in shares of Alerus Financial in the second quarter worth $73,000. Meeder Asset Management Inc. bought a new stake in shares of Alerus Financial during the first quarter valued at about $90,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Alerus Financial in the second quarter worth about $207,000. Finally, Corient Private Wealth LP purchased a new position in Alerus Financial during the second quarter valued at approximately $223,000. 51.25% of the stock is owned by institutional investors.

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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