DA Davidson Issues Positive Forecast for Alerus Financial (NASDAQ:ALRS) Stock Price

Key Points

• DA Davidson raised its price target for Alerus Financial (NASDAQ:ALRS) from $20.00 to $25.00, suggesting a potential upside of 9.16% from the current price.
• Other firms, including Piper Sandler and Raymond James Financial, also adjusted their price targets, with Raymond James setting a target of $27.00 and maintaining an "outperform" rating.
• Alerus Financial reported strong quarterly earnings with an EPS of $0.72, surpassing analyst expectations of $0.56, and a net margin of 7.81% for the quarter.

Alerus Financial (NASDAQ:ALRS - Get Free Report) had its price target boosted by analysts at DA Davidson from $20.00 to $25.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. DA Davidson's price objective would indicate a potential upside of 9.16% from the company's current price.

Other research analysts have also issued reports about the company. Piper Sandler upped their price target on Alerus Financial from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Raymond James Financial reiterated an "outperform" rating and set a $27.00 price target (up from $24.00) on shares of Alerus Financial in a report on Tuesday. Finally, Keefe, Bruyette & Woods upped their price target on Alerus Financial from $22.00 to $25.00 and gave the stock a "market perform" rating in a report on Tuesday.

Alerus Financial Stock Performance

ALRS traded down $0.17 on Tuesday, hitting $22.90. The company had a trading volume of 33,704 shares, compared to its average volume of 75,253. The company's fifty day moving average price is $21.71 and its 200 day moving average price is $20.27. Alerus Financial has a 1-year low of $15.78 and a 1-year high of $24.41. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market cap of $580.96 million, a price-to-earnings ratio of 18.77 and a beta of 0.70.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.16. Alerus Financial had a return on equity of 8.32% and a net margin of 7.81%. The company had revenue of $74.80 million during the quarter, compared to analyst estimates of $69.96 million. Equities analysts predict that Alerus Financial will post 2.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ALRS. Tower Research Capital LLC TRC raised its stake in shares of Alerus Financial by 457.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,277 shares of the company's stock valued at $25,000 after purchasing an additional 1,048 shares in the last quarter. Thompson Investment Management Inc. acquired a new position in shares of Alerus Financial in the second quarter valued at $32,000. Legal & General Group Plc raised its stake in shares of Alerus Financial by 32.7% in the fourth quarter. Legal & General Group Plc now owns 2,025 shares of the company's stock valued at $39,000 after purchasing an additional 499 shares in the last quarter. Summit Investment Advisors Inc. raised its stake in shares of Alerus Financial by 31.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,349 shares of the company's stock valued at $45,000 after purchasing an additional 568 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of Alerus Financial in the first quarter valued at $49,000. 51.25% of the stock is currently owned by institutional investors and hedge funds.

About Alerus Financial

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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