Alerus Financial (NASDAQ:ALRS) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Alerus Financial (NASDAQ:ALRS) had its target price hoisted by equities research analysts at Keefe, Bruyette & Woods from $24.00 to $25.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 1.77% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Hovde Group lowered shares of Alerus Financial from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 7th. Zacks Research raised Alerus Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Weiss Ratings upgraded Alerus Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Raymond James Financial raised Alerus Financial from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $25.00 to $27.00 in a research note on Monday, January 5th. Finally, Piper Sandler dropped their target price on shares of Alerus Financial from $25.50 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $25.25.

Alerus Financial Trading Up 0.8%

Shares of NASDAQ ALRS traded up $0.21 during midday trading on Friday, reaching $24.57. The company had a trading volume of 49,398 shares, compared to its average volume of 147,167. The stock has a market cap of $623.95 million, a PE ratio of 37.22 and a beta of 0.66. Alerus Financial has a one year low of $15.78 and a one year high of $25.00. The firm’s fifty day moving average price is $22.93 and its 200-day moving average price is $22.21. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11.

Alerus Financial (NASDAQ:ALRS) last announced its quarterly earnings data on Wednesday, January 28th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.28. The firm had revenue of $77.07 million during the quarter, compared to the consensus estimate of $71.43 million. Alerus Financial had a return on equity of 13.38% and a net margin of 4.36%. On average, equities research analysts anticipate that Alerus Financial will post 2.14 earnings per share for the current year.

Hedge Funds Weigh In On Alerus Financial

A number of institutional investors and hedge funds have recently made changes to their positions in ALRS. Thompson Investment Management Inc. bought a new stake in shares of Alerus Financial in the 2nd quarter worth approximately $32,000. NewEdge Advisors LLC raised its stake in Alerus Financial by 90.1% during the second quarter. NewEdge Advisors LLC now owns 1,544 shares of the company’s stock valued at $33,000 after buying an additional 732 shares during the last quarter. CIBC Private Wealth Group LLC bought a new stake in Alerus Financial in the third quarter worth $52,000. AlphaQuest LLC purchased a new stake in shares of Alerus Financial in the third quarter worth $59,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Alerus Financial by 172.7% during the second quarter. Tower Research Capital LLC TRC now owns 3,371 shares of the company’s stock valued at $73,000 after acquiring an additional 2,135 shares in the last quarter. 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.