Brokers Issue Forecasts for Alerus Financial Co.’s Q2 2024 Earnings (NASDAQ:ALRS)

Alerus Financial Co. (NASDAQ:ALRS) – Research analysts at DA Davidson issued their Q2 2024 earnings per share estimates for Alerus Financial in a report released on Wednesday, May 1st. DA Davidson analyst J. Rulis anticipates that the company will post earnings of $0.36 per share for the quarter. DA Davidson has a “Neutral” rating and a $24.00 price objective on the stock. The consensus estimate for Alerus Financial’s current full-year earnings is $1.48 per share.

Separately, TheStreet downgraded Alerus Financial from a “b-” rating to a “c+” rating in a report on Wednesday, March 13th.

Alerus Financial Price Performance

ALRS stock opened at $19.96 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $394.01 million, a PE ratio of 40.74 and a beta of 0.67. Alerus Financial has a 12-month low of $13.11 and a 12-month high of $25.85. The business’s fifty day moving average price is $21.10 and its 200 day moving average price is $20.62.

Alerus Financial (NASDAQ:ALRS) last posted its earnings results on Thursday, April 25th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The company had revenue of $74.36 million for the quarter, compared to the consensus estimate of $47.40 million. Alerus Financial had a return on equity of 8.20% and a net margin of 3.54%. During the same quarter in the previous year, the business earned $0.40 earnings per share.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ALRS. SG Americas Securities LLC acquired a new position in Alerus Financial during the 3rd quarter worth $142,000. Bank of New York Mellon Corp boosted its position in shares of Alerus Financial by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 97,862 shares of the company’s stock worth $1,779,000 after acquiring an additional 880 shares in the last quarter. Brown Advisory Inc. boosted its position in shares of Alerus Financial by 9.5% during the 3rd quarter. Brown Advisory Inc. now owns 284,647 shares of the company’s stock worth $5,175,000 after acquiring an additional 24,643 shares in the last quarter. Sippican Capital Advisors raised its position in shares of Alerus Financial by 93.6% during the 4th quarter. Sippican Capital Advisors now owns 60,205 shares of the company’s stock worth $1,348,000 after acquiring an additional 29,115 shares in the last quarter. Finally, Harbor Advisors LLC acquired a new stake in shares of Alerus Financial during the 4th quarter worth about $221,000. 51.25% of the stock is owned by institutional investors and hedge funds.

Alerus Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 15th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.76 annualized dividend and a yield of 3.81%. Alerus Financial’s payout ratio is 155.11%.

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.