Alerus Financial (NASDAQ:ALRS) Price Target Lowered to $24.00 at Piper Sandler

Alerus Financial (NASDAQ:ALRS) had its target price decreased by equities research analysts at Piper Sandler from $25.50 to $24.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 14.59% from the company’s previous close.

ALRS has been the topic of several other reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Alerus Financial in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Alerus Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 23rd. Keefe, Bruyette & Woods decreased their target price on shares of Alerus Financial from $25.00 to $24.00 and set a “market perform” rating on the stock in a research note on Monday. Raymond James Financial restated an “outperform” rating and set a $27.00 target price (up previously from $24.00) on shares of Alerus Financial in a research note on Tuesday, July 29th. Finally, DA Davidson increased their price objective on shares of Alerus Financial from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $25.00.

Alerus Financial Stock Down 0.8%

ALRS stock traded down $0.18 during trading on Tuesday, hitting $20.95. 8,304 shares of the stock traded hands, compared to its average volume of 77,093. Alerus Financial has a 1 year low of $15.78 and a 1 year high of $24.33. The firm’s 50 day moving average is $22.07 and its two-hundred day moving average is $21.54. The stock has a market cap of $532.00 million, a price-to-earnings ratio of 10.07 and a beta of 0.74. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.88 and a quick ratio of 0.87.

Alerus Financial (NASDAQ:ALRS) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.59 by $0.07. Alerus Financial had a net margin of 13.45% and a return on equity of 11.84%. The company had revenue of $72.57 million for the quarter, compared to the consensus estimate of $71.41 million. On average, sell-side analysts anticipate that Alerus Financial will post 2.14 EPS for the current year.

Institutional Investors Weigh In On Alerus Financial

Large investors have recently bought and sold shares of the company. Thompson Investment Management Inc. purchased a new stake in Alerus Financial in the 2nd quarter worth approximately $32,000. NewEdge Advisors LLC lifted its holdings in Alerus Financial by 90.1% in the 2nd quarter. NewEdge Advisors LLC now owns 1,544 shares of the company’s stock valued at $33,000 after purchasing an additional 732 shares in the last quarter. State of Wyoming purchased a new position in Alerus Financial in the 1st quarter valued at $49,000. AlphaQuest LLC purchased a new position in Alerus Financial in the 3rd quarter valued at $59,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Alerus Financial by 172.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,371 shares of the company’s stock worth $73,000 after acquiring an additional 2,135 shares during the last quarter. Hedge funds and other institutional investors 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.