Alerus Financial (NASDAQ:ALRS) Declares $0.22 Quarterly Dividend

Alerus Financial (NASDAQ:ALRS) announced a quarterly dividend on Wednesday, August 26th. Stockholders of record on Friday, September 25th will be paid a dividend of 0.22 per share on Friday, October 9th. This represents a c) dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, September 25th.

Alerus Financial has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 25 years. Alerus Financial has a payout ratio of 37.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Alerus Financial to earn $2.82 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 31.2%.

Alerus Financial Stock Performance

ALRS opened at $33.24 on Friday. Alerus Financial has a 52-week low of $20.31 and a 52-week high of $34.40. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. The company has a market cap of $827.68 million, a P/E ratio of 31.36 and a beta of 0.68. The firm’s 50-day moving average price is $32.26 and its 200-day moving average price is $28.17.

Alerus Financial (NASDAQ:ALRS) last released its earnings results on Wednesday, July 29th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The company 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%. As a group, equities analysts anticipate that Alerus Financial will post 3.03 EPS for the current fiscal year.

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.