Wall Street Zen Upgrades Alerus Financial (NASDAQ:ALRS) to "Hold"

Key Points

• Wall Street Zen upgraded Alerus Financial (NASDAQ:ALRS) from a "sell" to a "hold"; the consensus among analysts is an average Hold rating with a $28.38 average price target (one Strong Buy, six Holds).
• Alerus beat quarterly expectations, reporting $0.89 EPS versus $0.58 expected and $75.78M in revenue versus $73.78M, while the stock trades near $26.95 with a market cap of about $689M and a 52‑week range of $20.08–$27.60.
• Institutional investors own roughly 51.25% of the company, with several small recent position increases by firms such as Larson Financial, NewEdge Advisors and Canada Life.

Alerus Financial (NASDAQ:ALRS - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Sunday.

Several other equities research analysts have also recently issued reports on ALRS. Keefe, Bruyette & Woods raised their price target on shares of Alerus Financial from $25.00 to $27.00 and gave the stock a "market perform" rating in a research note on Friday. Piper Sandler raised their price target on shares of Alerus Financial from $28.00 to $28.50 and gave the company a "neutral" rating in a report on Friday. Weiss Ratings lowered shares of Alerus Financial from a "buy (b-)" rating to a "hold (c)" rating in a report on Thursday, March 5th. Raymond James Financial set a $29.00 target price on shares of Alerus Financial and gave the stock a "strong-buy" rating in a research report on Friday, January 30th. Finally, Hovde Group cut shares of Alerus Financial from an "outperform" rating to a "market perform" rating in a research report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $28.38.

Alerus Financial Stock Performance

NASDAQ:ALRS opened at $26.95 on Friday. 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 has a fifty-two week low of $20.08 and a fifty-two week high of $27.60. The stock has a market cap of $688.84 million, a PE ratio of 26.17 and a beta of 0.67. The firm's fifty day simple moving average is $24.52 and its 200-day simple moving average is $23.42.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.31. Alerus Financial had a net margin of 6.74% and a return on equity of 14.56%. The business had revenue of $75.78 million for the quarter, compared to analysts' expectations of $73.78 million. Analysts expect that Alerus Financial will post 2.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alerus Financial

Several institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC raised its position in 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 in the last quarter. NewEdge Advisors LLC raised its holdings in Alerus Financial by 90.1% during the 2nd quarter. NewEdge Advisors LLC now owns 1,544 shares of the company's stock worth $33,000 after buying an additional 732 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in Alerus Financial by 25.7% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,222 shares of the company's stock worth $50,000 after buying an additional 455 shares during the period. CIBC Private Wealth Group LLC acquired a new position in shares of Alerus Financial in the 3rd quarter valued at about $52,000. Finally, AlphaQuest LLC acquired a new position in shares of Alerus Financial in the 3rd quarter valued at about $59,000. Institutional investors and hedge funds own 51.25% of the company's stock.

About Alerus Financial

Alerus Financial Corporation NASDAQ: ALRS is a diversified financial services company headquartered in Grand Forks, North Dakota. The firm provides a full range of commercial and consumer banking products, including deposit accounts, lending solutions and treasury management services for individuals, small businesses and larger corporate clients. Through its community banking network, Alerus emphasizes local decision-making and personalized service to meet the needs of its varied client base.

In addition to traditional banking offerings, Alerus operates a national mortgage origination and servicing platform that delivers home purchase and refinance loans.

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