Alerus Financial Co. (NASDAQ:ALRS) Receives $23.20 Consensus Target Price from Analysts

Shares of Alerus Financial Co. (NASDAQ:ALRS) have earned an average recommendation of “Hold” from the five brokerages that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $23.20.

A number of analysts have recently issued reports on the stock. Raymond James raised shares of Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price target for the company in a research report on Tuesday, September 17th. Keefe, Bruyette & Woods raised their price objective on Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a research note on Wednesday. Finally, Piper Sandler decreased their price target on shares of Alerus Financial from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, October 31st.

Alerus Financial Stock Up 0.2 %

NASDAQ ALRS opened at $21.91 on Friday. The company has a market capitalization of $555.20 million, a P/E ratio of 136.95 and a beta of 0.69. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.85 and a quick ratio of 0.85. The company’s 50 day simple moving average is $22.42 and its 200 day simple moving average is $21.23. Alerus Financial has a 12 month low of $18.09 and a 12 month high of $25.85.

Alerus Financial (NASDAQ:ALRS) last released its earnings results on Tuesday, October 29th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.18). Alerus Financial had a return on equity of 6.02% and a net margin of 1.01%. The firm had revenue of $80.58 million during the quarter, compared to analysts’ expectations of $52.30 million. During the same period last year, the business earned $0.45 earnings per share. Equities research analysts expect that Alerus Financial will post 0.97 earnings per share for the current fiscal year.

Institutional Trading of Alerus Financial

A number of institutional investors and hedge funds have recently modified their holdings of ALRS. Federated Hermes Inc. raised its holdings in shares of Alerus Financial by 380.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,519 shares of the company’s stock worth $30,000 after buying an additional 1,203 shares in the last quarter. SG Americas Securities LLC bought a new position in Alerus Financial in the 3rd quarter valued at $142,000. Harbor Advisors LLC acquired a new stake in Alerus Financial in the third quarter worth about $226,000. Bailard Inc. bought a new stake in shares of Alerus Financial during the second quarter worth approximately $265,000. Finally, Inspire Investing LLC acquired a new position in shares of Alerus Financial in the 3rd quarter valued at $417,000. 51.25% of the stock is currently owned by institutional investors.

About Alerus Financial

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.