Wall Street Zen Downgrades Alerus Financial (NASDAQ:ALRS) to Hold

Wall Street Zen downgraded shares of Alerus Financial (NASDAQ:ALRS) from a buy rating to a hold rating in a report published on Sunday morning.

A number of other equities research analysts have also issued reports on ALRS. Raymond James Financial reaffirmed an “outperform” rating and issued a $27.00 target price (up previously from $24.00) on shares of Alerus Financial in a research note on Tuesday, July 29th. DA Davidson upped their target price on Alerus Financial from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, July 29th. Piper Sandler upped their target price on Alerus Financial from $24.00 to $25.50 and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Finally, Keefe, Bruyette & Woods upped their target price on Alerus Financial from $22.00 to $25.00 and gave the company a “market perform” rating in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $25.63.

Alerus Financial Stock Performance

ALRS opened at $21.50 on Friday. The stock has a market cap of $546.01 million, a P/E ratio of 12.72 and a beta of 0.71. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.88 and a quick ratio of 0.87. The stock’s 50 day simple moving average is $21.76 and its 200 day simple moving average is $20.41. Alerus Financial has a 1-year low of $15.78 and a 1-year high of $24.41.

Alerus Financial (NASDAQ:ALRS) last released its quarterly earnings results on Monday, July 28th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.16. Alerus Financial had a return on equity of 10.21% and a net margin of 11.06%.The business had revenue of $74.80 million for the quarter, compared to analysts’ expectations of $69.96 million. As a group, equities analysts anticipate that Alerus Financial will post 2.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its position in shares of Alerus Financial by 120.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 666,559 shares of the company’s stock worth $12,824,000 after buying an additional 363,617 shares during the period. Wellington Management Group LLP purchased a new position in shares of Alerus Financial in the 1st quarter worth $6,040,000. Rhino Investment Partners Inc purchased a new position in shares of Alerus Financial in the 4th quarter worth $5,849,000. FJ Capital Management LLC purchased a new position in shares of Alerus Financial in the 4th quarter worth $5,557,000. Finally, CSM Advisors LLC purchased a new position in shares of Alerus Financial in the 2nd quarter worth $4,123,000. Hedge funds and other institutional investors own 51.25% of the company’s stock.

Alerus Financial Company Profile

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.