Weiss Ratings Reaffirms "Hold (C+)" Rating for Alerus Financial (NASDAQ:ALRS)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C+)" rating for Alerus Financial (NASDAQ:ALRS), indicating a neutral outlook on the stock.
• Several analysts have recently adjusted their price targets for Alerus Financial, with a consensus target price now at $25.63.
• Alerus Financial reported a quarterly earnings per share of $0.72, exceeding analysts' expectations, and the company has a market cap of $547.50 million.

Alerus Financial (NASDAQ:ALRS - Get Free Report)'s stock had its "hold (c+)" rating reaffirmed by equities research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Several other equities analysts have also recently issued reports on ALRS. Piper Sandler lifted their price target on Alerus Financial from $24.00 to $25.50 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. DA Davidson boosted their price objective on shares of Alerus Financial from $20.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. Wall Street Zen cut shares of Alerus Financial from a "buy" rating to a "hold" rating in a research report on Sunday, August 17th. Keefe, Bruyette & Woods upped their target price on shares of Alerus Financial from $22.00 to $25.00 and gave the company a "market perform" rating in a research report on Tuesday, July 29th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $27.00 target price (up previously from $24.00) on shares of Alerus Financial in a research report on Tuesday, July 29th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Alerus Financial currently has an average rating of "Hold" and a consensus target price of $25.63.

Alerus Financial Trading Down 0.8%

ALRS traded down $0.17 during mid-day trading on Wednesday, hitting $21.56. 32,427 shares of the stock were exchanged, compared to its average volume of 78,021. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11. The company has a market cap of $547.50 million, a PE ratio of 12.75 and a beta of 0.70. The firm's fifty day moving average is $22.07 and its two-hundred day moving average is $20.95. Alerus Financial has a 1-year low of $15.78 and a 1-year high of $24.41.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last announced its earnings results on Monday, July 28th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.16. Alerus Financial had a return on equity of 10.21% and a net margin of 11.06%.The company had revenue of $74.80 million for the quarter, compared to the consensus estimate of $69.96 million. Equities analysts forecast that Alerus Financial will post 2.14 earnings per share for the current fiscal year.

Institutional Trading of Alerus Financial

Several hedge funds have recently modified their holdings of the company. Cubist Systematic Strategies LLC lifted its holdings in Alerus Financial by 60.8% in the 1st quarter. Cubist Systematic Strategies LLC now owns 36,791 shares of the company's stock valued at $679,000 after purchasing an additional 13,907 shares in the last quarter. Keeley Teton Advisors LLC raised its holdings in Alerus Financial by 34.3% in the 1st quarter. Keeley Teton Advisors LLC now owns 227,455 shares of the company's stock valued at $4,199,000 after buying an additional 58,036 shares during the period. Sippican Capital Advisors raised its holdings in Alerus Financial by 18.5% in the 1st quarter. Sippican Capital Advisors now owns 100,985 shares of the company's stock valued at $1,864,000 after buying an additional 15,780 shares during the period. Aviance Capital Partners LLC purchased a new stake in Alerus Financial in the 1st quarter valued at about $242,000. Finally, Hsbc Holdings PLC raised its holdings in Alerus Financial by 9.0% in the 1st quarter. Hsbc Holdings PLC now owns 32,990 shares of the company's stock valued at $607,000 after buying an additional 2,730 shares during the period. 51.25% of the stock is owned by hedge funds and other institutional investors.

Alerus Financial Company Profile

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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