Alerus Financial (NASDAQ:ALRS) Stock Has Average Price Target of $35.75 According to Analysts

Key Points

• Analysts have a consensus “Hold” rating on Alerus Financial, with four holds and three buys. The average 12-month price target is $35.75, above the reported share price of $31.06.
• Alerus Financial exceeded quarterly expectations, reporting earnings of $0.80 per share versus the $0.77 estimate and revenue of $80.0 million versus $76.99 million expected.
• The company paid a quarterly dividend of $0.22 per share, equivalent to an annualized $0.88 dividend and a 2.8% yield; institutional investors own 51.25% of the stock.

Shares of Alerus Financial (NASDAQ:ALRS - Get Free Report) have received a consensus recommendation of "Hold" from the seven brokerages that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $35.75.

ALRS has been the topic of several recent analyst reports. Raymond James Financial reiterated an "outperform" rating and set a $37.00 target price on shares of Alerus Financial in a report on Monday, August 3rd. DA Davidson set a $36.00 target price on Alerus Financial in a research note on Friday, July 31st. Wall Street Zen downgraded Alerus Financial from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Keefe, Bruyette & Woods raised their price target on Alerus Financial from $29.00 to $32.00 and gave the stock a "market perform" rating in a research report on Friday, July 31st. Finally, Weiss Ratings raised Alerus Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, October 2nd.

Insider Buying and Selling at Alerus Financial

In related news, Director Jeffrey Bolton acquired 1,000 shares of the stock in a transaction dated Tuesday, September 1st. The stock was bought at an average price of $32.45 per share, with a total value of $32,450.00. Following the completion of the transaction, the director directly owned 15,163 shares of the company's stock, valued at approximately $492,039.35. The trade was a 7.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alerus Financial

Several institutional investors have recently added to or reduced their stakes in ALRS. BlackRock Inc. bought a new position in Alerus Financial during the 2nd quarter worth about $56,672,000. Dimensional Fund Advisors LP lifted its holdings in shares of Alerus Financial by 6.8% in the first quarter. Dimensional Fund Advisors LP now owns 886,815 shares of the company's stock valued at $21,027,000 after purchasing an additional 56,763 shares in the last quarter. M3F Inc. lifted its holdings in shares of Alerus Financial by 1.4% in the first quarter. M3F Inc. now owns 417,108 shares of the company's stock valued at $9,890,000 after purchasing an additional 5,945 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Alerus Financial in the second quarter valued at about $3,869,000. Finally, Empowered Funds LLC acquired a new position in shares of Alerus Financial during the second quarter worth about $3,084,000. 51.25% of the stock is owned by institutional investors.

Alerus Financial Trading Down 0.0%

Shares of NASDAQ:ALRS opened at $31.06 on Tuesday. The stock has a market capitalization of $774.33 million, a PE ratio of 29.30 and a beta of 0.69. Alerus Financial has a 1 year low of $20.31 and a 1 year high of $34.40. The firm has a fifty day moving average price of $32.84 and a 200 day moving average price of $30.01. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. Alerus Financial had a return on equity of 14.41% and a net margin of 6.87%. The company had revenue of $80.00 million for the quarter, compared to analyst estimates of $76.99 million. Analysts expect that Alerus Financial will post 3.03 EPS for the current fiscal year.

Alerus Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 25th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, September 25th. Alerus Financial's dividend payout ratio is 83.02%.

Alerus Financial Company Profile

Alerus Financial Corporation is a bank holding company headquartered in Grand Forks, North Dakota. Through its primary subsidiary, Alerus Financial, N.A., the company provides banking, wealth management, retirement plan administration and mortgage services to individuals, families and businesses.

Its banking offerings include checking and savings accounts, consumer and commercial lending, treasury management and other deposit services. Alerus also provides investment advisory, trust and private wealth management services, as well as employee retirement plan recordkeeping, administration and advisory solutions.

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