Alerus Financial (NASDAQ:ALRS) Given Average Rating of “Hold” by Brokerages

Shares of Alerus Financial (NASDAQ:ALRS) have been assigned a consensus recommendation of “Hold” from the seven analysts that are currently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and one has 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 $35.50.

Several analysts have issued reports on the company. Wall Street Zen cut Alerus Financial from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Raymond James Financial reissued an “outperform” rating and issued a $37.00 price target on shares of Alerus Financial in a research report on Monday, August 3rd. Weiss Ratings downgraded Alerus Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, August 17th. Piper Sandler boosted their target price on shares of Alerus Financial from $32.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Finally, Keefe, Bruyette & Woods raised their price target on shares of Alerus Financial from $29.00 to $32.00 and gave the company a “market perform” rating in a report on Friday, July 31st.

Institutional Investors Weigh In On Alerus Financial

Several institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC increased its position in shares of Alerus Financial by 90.1% during the second quarter. NewEdge Advisors LLC now owns 1,544 shares of the company’s stock worth $33,000 after purchasing an additional 732 shares in the last quarter. Larson Financial Group LLC grew its stake in Alerus Financial by 50.0% during the 4th quarter. Larson Financial Group LLC now owns 1,500 shares of the company’s stock worth $34,000 after buying an additional 500 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in Alerus Financial by 25.7% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,222 shares of the company’s stock worth $50,000 after buying an additional 455 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new position in Alerus Financial during the 3rd quarter valued at about $52,000. Finally, Legal & General Group Plc acquired a new position in Alerus Financial during the 2nd quarter valued at about $73,000. 51.25% of the stock is currently owned by institutional investors and hedge funds.

Alerus Financial Stock Performance

NASDAQ ALRS opened at $32.77 on Monday. Alerus Financial has a one year low of $20.31 and a one year high of $34.40. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.90. The company has a market capitalization of $816.07 million, a price-to-earnings ratio of 30.92 and a beta of 0.68. The company’s 50-day simple moving average is $32.00 and its two-hundred day simple moving average is $27.96.

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

About Alerus Financial

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.