Alerus Financial (NASDAQ:ALRS) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Alerus Financial (NASDAQ:ALRS) have earned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $26.00.

A number of equities analysts recently issued reports on the stock. Wall Street Zen cut shares of Alerus Financial from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Zacks Research raised shares of Alerus Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 28th. Keefe, Bruyette & Woods upped their target price on shares of Alerus Financial from $24.00 to $25.00 and gave the stock a “market perform” rating in a research note on Friday, January 30th. DA Davidson increased their price target on shares of Alerus Financial from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Finally, Raymond James Financial set a $29.00 price target on shares of Alerus Financial and gave the company a “strong-buy” rating in a research report on Friday, January 30th.

Alerus Financial Trading Up 1.0%

NASDAQ ALRS opened at $23.84 on Friday. The stock has a market cap of $605.54 million, a P/E ratio of 36.12 and a beta of 0.59. Alerus Financial has a fifty-two week low of $15.78 and a fifty-two week high of $26.32. The stock has a 50 day simple moving average of $24.38 and a two-hundred day simple moving average of $22.99. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.90.

Alerus Financial (NASDAQ:ALRS) last announced its quarterly earnings results on Wednesday, January 28th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.28. The company had revenue of $77.07 million for the quarter, compared to analysts’ expectations of $71.43 million. Alerus Financial had a net margin of 4.36% and a return on equity of 13.18%. On average, analysts forecast that Alerus Financial will post 2.14 earnings per share for the current year.

Alerus Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, March 27th. Alerus Financial’s dividend payout ratio (DPR) is presently 127.27%.

Hedge Funds Weigh In On Alerus Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC lifted its holdings 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 period. Larson Financial Group LLC grew its stake in shares of Alerus Financial by 50.0% during the 4th quarter. Larson Financial Group LLC now owns 1,500 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of Alerus Financial by 25.7% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,222 shares of the company’s stock valued at $50,000 after purchasing an additional 455 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new stake in shares of Alerus Financial during the 3rd quarter valued at about $52,000. Finally, AlphaQuest LLC bought a new position in shares of Alerus Financial in the 3rd quarter worth approximately $59,000. Institutional investors own 51.25% of the company’s stock.

Alerus Financial Company Profile

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.