Alerus Financial (NASDAQ:ALRS) Announces Quarterly Earnings Results

Alerus Financial (NASDAQ:ALRS) announced its earnings results on Monday. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.16, Zacks reports. Alerus Financial had a return on equity of 8.32% and a net margin of 7.81%.

Alerus Financial Stock Up 0.4%

Alerus Financial stock opened at $21.72 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.87. The business’s 50-day simple moving average is $21.69 and its two-hundred day simple moving average is $20.24. The company has a market cap of $551.04 million, a PE ratio of 17.80 and a beta of 0.70. Alerus Financial has a fifty-two week low of $15.78 and a fifty-two week high of $24.41.

Alerus Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.87%. The ex-dividend date of this dividend was Friday, June 27th. This is an increase from Alerus Financial’s previous quarterly dividend of $0.20. Alerus Financial’s payout ratio is presently 68.85%.

Institutional Trading of Alerus Financial

Several large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC purchased a new stake in shares of Alerus Financial in the first quarter worth about $1,195,000. Jane Street Group LLC purchased a new position in Alerus Financial during the first quarter worth approximately $441,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Alerus Financial by 4.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,420 shares of the company’s stock worth $248,000 after purchasing an additional 546 shares in the last quarter. Hedge funds and other institutional investors own 51.25% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Keefe, Bruyette & Woods lifted their price objective on Alerus Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 30th. Piper Sandler lifted their price objective on Alerus Financial from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd.

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.