Alerus Financial Co. (NASDAQ:ALRS) Receives $23.40 Consensus Target Price from Analysts

Shares of Alerus Financial Co. (NASDAQ:ALRS) have earned an average recommendation of “Hold” from the five research firms that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $23.40.

A number of research analysts have recently issued reports on the stock. Raymond James reiterated an “outperform” rating and issued a $24.00 target price (up previously from $22.00) on shares of Alerus Financial in a research note on Thursday, January 30th. Piper Sandler lifted their price objective on Alerus Financial from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Keefe, Bruyette & Woods increased their target price on Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $23.00 price target on shares of Alerus Financial in a report on Thursday, January 30th.

Institutional Investors Weigh In On Alerus Financial

Institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its holdings in Alerus Financial by 457.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,277 shares of the company’s stock worth $25,000 after acquiring an additional 1,048 shares during the period. Legal & General Group Plc boosted its position in shares of Alerus Financial by 32.7% in the 4th quarter. Legal & General Group Plc now owns 2,025 shares of the company’s stock worth $39,000 after purchasing an additional 499 shares during the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Alerus Financial by 31.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,349 shares of the company’s stock worth $45,000 after purchasing an additional 568 shares during the period. BNP Paribas Financial Markets bought a new stake in Alerus Financial in the fourth quarter valued at about $56,000. Finally, New York State Common Retirement Fund lifted its stake in Alerus Financial by 41.7% in the fourth quarter. New York State Common Retirement Fund now owns 6,451 shares of the company’s stock valued at $124,000 after buying an additional 1,900 shares during the period. 51.25% of the stock is owned by institutional investors.

Alerus Financial Stock Performance

Alerus Financial stock opened at $21.82 on Friday. The firm has a market capitalization of $552.92 million, a P/E ratio of 21.39 and a beta of 0.71. The stock has a fifty day moving average price of $20.34 and a two-hundred day moving average price of $21.45. Alerus Financial has a 52-week low of $17.99 and a 52-week high of $24.41. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.85 and a quick ratio of 0.85.

Alerus Financial (NASDAQ:ALRS) last announced its earnings results on Tuesday, January 28th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.16. Alerus Financial had a net margin of 6.26% and a return on equity of 7.66%. As a group, analysts anticipate that Alerus Financial will post 2.14 EPS for the current fiscal year.

Alerus Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, December 27th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.67%. The ex-dividend date was Friday, December 27th. Alerus Financial’s dividend payout ratio (DPR) is presently 78.43%.

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.