Alerus Financial (NASDAQ:ALRS) Announces Earnings Results, Beats Estimates By $0.01 EPS

Alerus Financial (NASDAQ:ALRS) issued its quarterly earnings results on Wednesday. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01, Yahoo Finance reports. The firm had revenue of $74.36 million for the quarter, compared to analysts’ expectations of $47.40 million. Alerus Financial had a return on equity of 8.20% and a net margin of 3.54%. During the same quarter last year, the business posted $0.40 EPS.

Alerus Financial Stock Down 1.2 %

Shares of NASDAQ ALRS traded down $0.24 during trading hours on Friday, hitting $20.30. The stock had a trading volume of 24,403 shares, compared to its average volume of 40,779. The company has a market capitalization of $400.72 million, a P/E ratio of 41.74 and a beta of 0.65. The firm’s 50-day moving average price is $21.35 and its two-hundred day moving average price is $20.56. Alerus Financial has a 52 week low of $13.11 and a 52 week high of $25.85. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.83 and a current ratio of 0.83.

Alerus Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 15th were paid a $0.19 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.76 annualized dividend and a dividend yield of 3.74%. Alerus Financial’s payout ratio is 155.11%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ALRS. TheStreet cut Alerus Financial from a “b-” rating to a “c+” rating in a research note on Wednesday, March 13th. DA Davidson lifted their target price on Alerus Financial from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th.

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.