Alerus Financial (NASDAQ:ALRS) Given Outperform Rating at Raymond James Financial

Alerus Financial (NASDAQ:ALRS)‘s stock had its “outperform” rating restated by stock analysts at Raymond James Financial in a report released on Tuesday,Benzinga reports. They currently have a $27.00 price objective on the stock, up from their prior price objective of $24.00. Raymond James Financial’s price objective suggests a potential upside of 24.48% from the stock’s current price.

ALRS has been the subject of several other research reports. Piper Sandler raised their target price on Alerus Financial from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Keefe, Bruyette & Woods lifted their price objective on Alerus Financial from $22.00 to $25.00 and gave the company a “market perform” rating in a research report on Tuesday.

Alerus Financial Stock Performance

Shares of Alerus Financial stock opened at $21.69 on Tuesday. The stock has a market cap of $550.28 million, a PE ratio of 12.83 and a beta of 0.70. The business has a fifty day simple moving average of $21.73 and a 200-day simple moving average of $20.30. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.11. Alerus Financial has a 12 month low of $15.78 and a 12 month high of $24.41.

Alerus Financial (NASDAQ:ALRS) last issued its earnings results on Monday, July 28th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.56 by $0.16. The business had revenue of $74.80 million during the quarter, compared to analysts’ expectations of $69.96 million. Alerus Financial had a return on equity of 10.58% and a net margin of 11.06%. On average, sell-side analysts anticipate that Alerus Financial will post 2.14 EPS for the current fiscal year.

Institutional Trading of Alerus Financial

A number of institutional investors have recently bought and sold shares of ALRS. Tower Research Capital LLC TRC boosted its position in Alerus Financial by 457.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,277 shares of the company’s stock valued at $25,000 after purchasing an additional 1,048 shares during the last quarter. Thompson Investment Management Inc. acquired a new stake in shares of Alerus Financial in the second quarter worth about $32,000. Legal & General Group Plc lifted its position in shares of Alerus Financial by 32.7% in the fourth quarter. Legal & General Group Plc now owns 2,025 shares of the company’s stock worth $39,000 after buying an additional 499 shares during the last quarter. Summit Investment Advisors Inc. lifted its position in shares of Alerus Financial by 31.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,349 shares of the company’s stock worth $45,000 after buying an additional 568 shares during the last quarter. Finally, State of Wyoming acquired a new stake in shares of Alerus Financial in the first quarter worth about $49,000. Institutional investors and hedge funds own 51.25% of the company’s stock.

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.