Alerus Financial’s (ALRS) “Neutral” Rating Reiterated at DA Davidson

DA Davidson reaffirmed their neutral rating on shares of Alerus Financial (NASDAQ:ALRS) in a report published on Thursday,Benzinga reports. DA Davidson currently has a $23.00 price target on the stock. DA Davidson also issued estimates for Alerus Financial’s Q1 2025 earnings at $0.44 EPS.

Several other analysts also recently weighed in on the company. Keefe, Bruyette & Woods lifted their target price on Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler boosted 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. Finally, Raymond James reaffirmed an “outperform” rating and set a $24.00 target price (up from $22.00) on shares of Alerus Financial in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $23.40.

Alerus Financial Price Performance

Alerus Financial stock opened at $21.14 on Thursday. Alerus Financial has a 12-month low of $17.99 and a 12-month high of $24.69. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $20.42 and a 200-day moving average price of $21.48. The firm has a market capitalization of $535.69 million, a PE ratio of 20.73 and a beta of 0.71.

Alerus Financial (NASDAQ:ALRS) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.16. Alerus Financial had a net margin of 6.26% and a return on equity of 7.66%. As a group, equities research analysts forecast that Alerus Financial will post 1.96 EPS for the current year.

Alerus Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, December 27th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, December 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.78%. Alerus Financial’s dividend payout ratio is presently 78.43%.

Hedge Funds Weigh In On Alerus Financial

A number of large investors have recently bought and sold shares of ALRS. New York State Common Retirement Fund increased its holdings in shares of Alerus Financial by 41.7% in the 4th quarter. New York State Common Retirement Fund now owns 6,451 shares of the company’s stock valued at $124,000 after acquiring an additional 1,900 shares during the period. Empowered Funds LLC boosted its position in Alerus Financial by 5.1% during the third quarter. Empowered Funds LLC now owns 46,937 shares of the company’s stock valued at $1,074,000 after purchasing an additional 2,278 shares in the last quarter. SG Americas Securities LLC grew its stake in Alerus Financial by 41.6% in the fourth quarter. SG Americas Securities LLC now owns 8,812 shares of the company’s stock valued at $170,000 after purchasing an additional 2,590 shares during the last quarter. Inspire Investing LLC raised its holdings in Alerus Financial by 14.9% in the fourth quarter. Inspire Investing LLC now owns 20,947 shares of the company’s stock worth $403,000 after purchasing an additional 2,717 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Alerus Financial by 1.0% during the third quarter. State Street Corp now owns 351,775 shares of the company’s stock valued at $8,118,000 after buying an additional 3,623 shares during the last quarter. Institutional investors own 51.25% of the company’s stock.

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.