DA Davidson Analysts Raise Earnings Estimates for Alerus Financial Co. (NASDAQ:ALRS)

Alerus Financial Co. (NASDAQ:ALRS) – Stock analysts at DA Davidson upped their FY2024 earnings estimates for Alerus Financial in a research note issued on Wednesday, May 1st. DA Davidson analyst J. Rulis now expects that the company will post earnings per share of $1.44 for the year, up from their prior forecast of $1.40. DA Davidson currently has a “Neutral” rating and a $24.00 target price on the stock. The consensus estimate for Alerus Financial’s current full-year earnings is $1.50 per share.

Separately, TheStreet lowered shares of Alerus Financial from a “b-” rating to a “c+” rating in a research note on Wednesday, March 13th.

Alerus Financial Trading Up 0.9 %

NASDAQ:ALRS opened at $19.96 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.83 and a quick ratio of 0.83. The business’s 50-day simple moving average is $21.07 and its 200-day simple moving average is $20.64. Alerus Financial has a fifty-two week low of $13.11 and a fifty-two week high of $25.85. The stock has a market capitalization of $394.01 million, a PE ratio of 40.74 and a beta of 0.67.

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

Alerus Financial Dividend Announcement

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

Institutional Inflows and Outflows

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

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.