Alerus Financial (NASDAQ:ALRS) Announces Earnings Results

Alerus Financial (NASDAQ:ALRS) released its quarterly earnings data on Tuesday. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.18), Yahoo Finance reports. Alerus Financial had a return on equity of 7.25% and a net margin of 2.39%. The firm had revenue of $80.58 million for the quarter, compared to analyst estimates of $52.30 million. During the same quarter in the prior year, the firm earned $0.45 earnings per share.

Alerus Financial Stock Performance

Shares of ALRS stock traded down $2.62 on Wednesday, hitting $21.06. The company’s stock had a trading volume of 34,359 shares, compared to its average volume of 57,809. Alerus Financial has a fifty-two week low of $17.07 and a fifty-two week high of $25.85. The company has a market capitalization of $416.52 million, a PE ratio of 60.17 and a beta of 0.66. The stock’s 50 day moving average is $22.46 and its 200-day moving average is $20.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.86.

Alerus Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 13th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend was Friday, September 13th. Alerus Financial’s dividend payout ratio is currently 228.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ALRS shares. Piper Sandler increased their price target on Alerus Financial from $22.50 to $24.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Raymond James raised shares of Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price objective on the stock in a research report on Tuesday, September 17th. DA Davidson raised their target price on shares of Alerus Financial from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, Keefe, Bruyette & Woods upped their price target on shares of Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $23.40.

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.