Alerus Financial (NASDAQ:ALRS) Receives $28.38 Consensus Target Price from Analysts

Shares of Alerus Financial (NASDAQ:ALRS) have received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $28.3750.

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods upped their price target on shares of Alerus Financial from $25.00 to $27.00 and gave the stock a “market perform” rating in a report on Friday, May 1st. Weiss Ratings raised shares of Alerus Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Wall Street Zen raised shares of Alerus Financial from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. DA Davidson upped their price target on shares of Alerus Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Finally, Zacks Research raised shares of Alerus Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th.

Alerus Financial Stock Performance

Alerus Financial stock opened at $30.30 on Wednesday. The stock has a market cap of $761.44 million, a P/E ratio of 29.42 and a beta of 0.69. Alerus Financial has a fifty-two week low of $20.26 and a fifty-two week high of $30.45. The firm’s fifty day moving average price is $26.90 and its 200-day moving average price is $24.82. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90.

Alerus Financial (NASDAQ:ALRS) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.31. The firm had revenue of $75.78 million for the quarter, compared to analysts’ expectations of $73.78 million. Alerus Financial had a net margin of 6.74% and a return on equity of 14.39%. Equities research analysts forecast that Alerus Financial will post 2.95 earnings per share for the current fiscal year.

Alerus Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, June 26th. This is an increase from Alerus Financial’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 2.9%. Alerus Financial’s payout ratio is currently 81.55%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its stake in Alerus Financial by 50.0% in the fourth quarter. Larson Financial Group LLC now owns 1,500 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares during the last quarter. NewEdge Advisors LLC increased its stake in Alerus Financial by 90.1% in the second quarter. NewEdge Advisors LLC now owns 1,544 shares of the company’s stock valued at $33,000 after acquiring an additional 732 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Alerus Financial by 25.7% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,222 shares of the company’s stock valued at $50,000 after acquiring an additional 455 shares during the last quarter. CIBC Private Wealth Group LLC bought a new position in Alerus Financial in the third quarter valued at $52,000. Finally, AlphaQuest LLC bought a new position in Alerus Financial in the third quarter valued at $59,000. Institutional investors own 51.25% of the company’s stock.

About Alerus Financial

Alerus Financial Corporation (NASDAQ: ALRS) is a diversified financial services company headquartered in Grand Forks, North Dakota. The firm provides a full range of commercial and consumer banking products, including deposit accounts, lending solutions and treasury management services for individuals, small businesses and larger corporate clients. Through its community banking network, Alerus emphasizes local decision-making and personalized service to meet the needs of its varied client base.

In addition to traditional banking offerings, Alerus operates a national mortgage origination and servicing platform that delivers home purchase and refinance loans.