Alerus Financial (NASDAQ:ALRS) Given New $34.00 Price Target at Keefe, Bruyette & Woods

Alerus Financial (NASDAQ:ALRS) had its price target raised by Keefe, Bruyette & Woods from $32.00 to $34.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a market perform rating on the stock.

A number of other brokerages also recently weighed in on ALRS. Wall Street Zen downgraded shares of Alerus Financial from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings cut shares of Alerus Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 16th. Raymond James Financial reissued an “outperform” rating and issued a $37.00 price target on shares of Alerus Financial in a report on Monday, August 3rd. Zacks Research cut shares of Alerus Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 20th. Finally, DA Davidson set a $36.00 price objective on shares of Alerus Financial in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.25.

Alerus Financial Stock Performance

Alerus Financial stock opened at $33.17 on Friday. The stock has a 50-day simple moving average of $32.37 and a 200 day simple moving average of $28.78. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. Alerus Financial has a 12-month low of $20.31 and a 12-month high of $34.40. The stock has a market capitalization of $826.93 million, a price-to-earnings ratio of 28.35 and a beta of 0.69.

Alerus Financial (NASDAQ:ALRS) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. Alerus Financial had a net margin of 7.35% and a return on equity of 14.48%. The business had revenue of $79.52 million for the quarter, compared to the consensus estimate of $76.72 million. On average, research analysts anticipate that Alerus Financial will post 3.04 earnings per share for the current fiscal year.

Alerus Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Friday, September 25th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Friday, September 25th. Alerus Financial’s payout ratio is currently 75.21%.

Insiders Place Their Bets

In other Alerus Financial news, Director Jeffrey Bolton bought 1,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were bought at an average cost of $32.45 per share, for a total transaction of $32,450.00. Following the transaction, the director owned 15,163 shares in the company, valued at approximately $492,039.35. This trade represents a 7.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Alerus Financial

Several institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp acquired a new stake in Alerus Financial during the 2nd quarter worth $3,869,000. Bank of America Corp DE acquired a new position in shares of Alerus Financial in the 2nd quarter valued at $1,226,000. Empowered Funds LLC acquired a new position in shares of Alerus Financial in the 2nd quarter valued at $3,084,000. BlackRock Inc. acquired a new position in shares of Alerus Financial in the 2nd quarter valued at $56,672,000. Finally, Basswood Capital Management L.L.C. bought a new position in shares of Alerus Financial in the 2nd quarter worth $1,873,000. Institutional investors and hedge funds own 51.25% of the company’s stock.

Key Headlines Impacting Alerus Financial

Here are the key news stories impacting Alerus Financial this week:

• Positive Sentiment: Q3 earnings and revenue beat expectations. Alerus reported adjusted earnings of $0.71 per share, above estimates of $0.66-$0.67 and up from $0.66 a year earlier. Revenue reached $79.52 million, exceeding the $76.72 million consensus estimate. Alerus Q3 Earnings and Revenues Beat Estimates
• Positive Sentiment: Operating momentum remained solid. Third-quarter coverage highlighted record revenue, strong loan growth and continued profitable growth, providing a fundamental reason for the stock’s gains and helping reinforce the company’s growth story. Alerus Financial Q3 Earnings Call Highlights
• Positive Sentiment: Keefe, Bruyette & Woods raised its price target from $32 to $34, indicating modest additional upside from the recent trading level. Keefe, Bruyette & Woods Alerus Rating
• Neutral Sentiment: Despite the higher target, KBW maintained a “market perform” rating, suggesting the firm views the shares as fairly valued after their strong advance rather than expecting substantial near-term outperformance.
• Negative Sentiment: Margin pressure is a key concern. Coverage characterized the quarter as facing a sharper margin squeeze, which could limit the benefit of stronger revenue and loan growth by putting pressure on future profitability. Alerus Q3 Earnings Margin Squeeze

Alerus Financial Company Profile

Alerus Financial Corporation is a diversified financial services company and the holding company for Alerus Financial, N.A. Through its banking subsidiary, the company provides consumer and commercial banking services, including checking and savings accounts, residential and commercial lending, treasury management, and digital banking solutions.

The company also offers wealth management, investment advisory, trust, retirement plan administration, and employee benefit services. These offerings are designed to serve individuals, families, businesses, nonprofit organizations, and employers through an integrated banking and financial planning model.

Alerus traces its roots to 1933 and serves clients through offices and operations in portions of the Upper Midwest and other selected U.S.