Alerus Financial’s (ALRS) “Outperform” Rating Reaffirmed at Raymond James

Alerus Financial (NASDAQ:ALRS)‘s stock had its “outperform” rating restated by equities research analysts at Raymond James in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $24.00 price objective on the stock, up from their previous price objective of $22.00. Raymond James’ price target indicates a potential upside of 13.29% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. Keefe, Bruyette & Woods upped their target price on shares of Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler upped their price objective on shares of Alerus Financial from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $23.40.

Alerus Financial Stock Up 5.0 %

ALRS stock opened at $21.19 on Thursday. The stock has a market capitalization of $536.83 million, a price-to-earnings ratio of 126.91 and a beta of 0.71. The company has a 50-day moving average of $20.45 and a two-hundred day moving average of $21.49. Alerus Financial has a 52-week low of $17.99 and a 52-week high of $25.85. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.85 and a quick ratio of 0.85.

Alerus Financial (NASDAQ:ALRS) last announced its earnings results on Tuesday, January 28th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.16. Alerus Financial had a return on equity of 6.02% and a net margin of 1.01%. As a group, equities research analysts anticipate that Alerus Financial will post 0.71 EPS for the current year.

Institutional Trading of Alerus Financial

Several institutional investors have recently made changes to their positions in ALRS. JPMorgan Chase & Co. raised its position in Alerus Financial by 207.4% in the third quarter. JPMorgan Chase & Co. now owns 24,214 shares of the company’s stock worth $554,000 after purchasing an additional 16,336 shares in the last quarter. Barclays PLC grew its stake in shares of Alerus Financial by 58.8% in the 3rd quarter. Barclays PLC now owns 44,399 shares of the company’s stock valued at $1,017,000 after purchasing an additional 16,436 shares during the period. Stieven Capital Advisors L.P. acquired a new position in shares of Alerus Financial in the 3rd quarter worth approximately $5,966,000. Squarepoint Ops LLC lifted its position in shares of Alerus Financial by 191.1% during the 2nd quarter. Squarepoint Ops LLC now owns 46,839 shares of the company’s stock worth $919,000 after buying an additional 30,750 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Alerus Financial by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 416,072 shares of the company’s stock valued at $9,522,000 after buying an additional 15,966 shares in the last quarter. 51.25% of the stock is currently owned by institutional investors and hedge funds.

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.