Alerus Financial (NASDAQ:ALRS) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Analyst consensus is “Hold”: Six of seven brokerages rate Alerus Financial neutral, while one recommends buying. The average 12-month price target is $35.50, modestly above the reported $32.78 share price.
• Quarterly results exceeded expectations: Alerus reported earnings of $0.80 per share versus the $0.77 consensus estimate and revenue of $80.0 million, above expectations of $76.99 million.
• The company declared a quarterly dividend of $0.22 per share, equivalent to $0.88 annually and a 2.7% yield. A director also purchased 1,000 shares, while institutional investors own 51.25% of the stock.

Alerus Financial (NASDAQ:ALRS - Get Free Report) has been assigned an average rating of "Hold" from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $35.50.

Several equities analysts recently commented on ALRS shares. Zacks Research downgraded Alerus Financial from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 20th. Weiss Ratings downgraded shares of Alerus Financial from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, August 17th. Keefe, Bruyette & Woods boosted their price target on shares of Alerus Financial from $29.00 to $32.00 and gave the company a "market perform" rating in a research report on Friday, July 31st. Piper Sandler upped their price objective on shares of Alerus Financial from $32.00 to $37.00 and gave the stock a "neutral" rating in a research note on Friday, July 31st. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $37.00 price objective on shares of Alerus Financial in a report on Monday, August 3rd.

Insider Transactions at Alerus Financial

In other Alerus Financial news, Director Jeffrey Bolton acquired 1,000 shares of Alerus Financial stock in a transaction on Tuesday, September 1st. The shares were bought at an average price 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 in the company, valued at $492,039.35. This trade represents a 7.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 4.30% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC acquired a new position in Alerus Financial during the 2nd quarter worth about $36,000. Larson Financial Group LLC raised its stake in shares of Alerus Financial by 50.0% in the fourth quarter. Larson Financial Group LLC now owns 1,500 shares of the company's stock worth $34,000 after acquiring an additional 500 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of Alerus Financial during the second quarter worth approximately $73,000. Meeder Asset Management Inc. acquired a new stake in shares of Alerus Financial in the first quarter valued at approximately $90,000. Finally, The Manufacturers Life Insurance Company bought a new position in Alerus Financial in the 2nd quarter worth approximately $207,000. 51.25% of the stock is owned by institutional investors.

Alerus Financial Stock Performance

NASDAQ ALRS opened at $32.78 on Friday. The stock has a market cap of $817.14 million, a P/E ratio of 30.92 and a beta of 0.67. The company's 50-day simple moving average is $32.99 and its 200 day simple moving average is $29.04. Alerus Financial has a twelve month low of $20.31 and a twelve month high of $34.40. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.10.

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

Alerus Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, September 25th. Alerus Financial's dividend payout ratio (DPR) is currently 83.02%.

About Alerus Financial

Alerus Financial Corporation is a financial services company and bank holding company headquartered in Grand Forks, North Dakota. Its principal subsidiary, Alerus Financial, National Association, provides banking, wealth management, retirement and employee-benefit services to individuals, families, businesses and institutions.

The company offers consumer and commercial deposit accounts, personal and business lending, mortgage banking, treasury management and related banking services. Through its wealth management and retirement businesses, Alerus provides investment management, trust and fiduciary services, retirement-plan administration, financial planning and benefit-account solutions, including health savings accounts and flexible spending accounts.

Alerus traces its history to 1933 and serves customers through offices and business operations in parts of Minnesota, North Dakota and Arizona, as well as through digital channels.

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