Alerus Financial (NASDAQ:ALRS) Stock Has Average Target Price of $35.75 According to Brokerages

Alerus Financial (NASDAQ:ALRS) has received an average rating of “Hold” from the seven research firms that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $35.75.

ALRS has been the subject of a number of recent research reports. Raymond James Financial restated an “outperform” rating and set a $37.00 price objective on shares of Alerus Financial in a research note on Monday, August 3rd. Keefe, Bruyette & Woods raised their price objective on Alerus Financial from $29.00 to $32.00 and gave the company a “market perform” rating in a report on Friday, July 31st. Piper Sandler raised Alerus Financial from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $37.00 to $38.00 in a research report on Friday, October 2nd. DA Davidson set a $36.00 price target on Alerus Financial in a research note on Friday, July 31st. Finally, Wall Street Zen lowered Alerus Financial from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st.

Insider Activity at Alerus Financial

In other news, Director Jeffrey Bolton bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was acquired at an average cost of $32.45 per share, with a total value of $32,450.00. Following the completion of the purchase, the director owned 15,163 shares of the company’s stock, valued at $492,039.35. This represents a 7.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.30% of the company’s stock.

Institutional Trading of Alerus Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALRS. Integrated Wealth Concepts LLC acquired a new stake in Alerus Financial in the second quarter valued at $36,000. Corient Private Wealth LP acquired a new position in shares of Alerus Financial during the 2nd quarter worth about $223,000. Susquehanna Fundamental Investments LLC increased its stake in shares of Alerus Financial by 30.4% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 28,377 shares of the company’s stock worth $883,000 after purchasing an additional 6,608 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Alerus Financial in the 2nd quarter valued at about $3,084,000. Finally, Bank of America Corp DE bought a new stake in shares of Alerus Financial in the 2nd quarter valued at about $1,226,000. 51.25% of the stock is owned by institutional investors.

Alerus Financial Stock Down 0.0%

Alerus Financial stock opened at $31.06 on Tuesday. The company has a market cap of $774.33 million, a P/E ratio of 29.30 and a beta of 0.69. Alerus Financial has a 1-year low of $20.31 and a 1-year high of $34.40. The company has a fifty day simple moving average of $32.84 and a 200 day simple moving average of $30.01. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10.

Alerus Financial (NASDAQ:ALRS) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. Alerus Financial had a net margin of 6.87% and a return on equity of 14.41%. The firm had revenue of $80.00 million for the quarter, compared to analyst estimates of $76.99 million. Research analysts anticipate that Alerus Financial will post 3.03 earnings per share for the current fiscal year.

Alerus Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 25th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, September 25th. Alerus Financial’s dividend payout ratio is presently 83.02%.

About Alerus Financial

Alerus Financial Corporation is a bank holding company headquartered in Grand Forks, North Dakota. Through its primary subsidiary, Alerus Financial, N.A., the company provides banking, wealth management, retirement plan administration and mortgage services to individuals, families and businesses.

Its banking offerings include checking and savings accounts, consumer and commercial lending, treasury management and other deposit services. Alerus also provides investment advisory, trust and private wealth management services, as well as employee retirement plan recordkeeping, administration and advisory solutions.