Piper Sandler Issues Positive Forecast for Alerus Financial (NASDAQ:ALRS) Stock Price

Alerus Financial (NASDAQ:ALRS) had its price objective upped by Piper Sandler from $22.00 to $23.00 in a report issued on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts have also recently weighed in on the company. Keefe, Bruyette & Woods boosted their price objective on Alerus Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research report on Wednesday. Raymond James reissued an “outperform” rating and issued a $24.00 target price (up from $22.00) on shares of Alerus Financial in a research report on Thursday, January 30th. Finally, DA Davidson reiterated a “neutral” rating and set a $23.00 target price on shares of Alerus Financial in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Alerus Financial currently has an average rating of “Hold” and an average price target of $23.00.

Alerus Financial Stock Up 2.7 %

ALRS stock opened at $20.64 on Friday. The firm has a market capitalization of $526.55 million, a PE ratio of 20.24 and a beta of 0.67. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15. Alerus Financial has a twelve month low of $15.78 and a twelve month high of $24.41. The stock’s 50 day moving average is $18.22 and its 200-day moving average is $20.17.

Alerus Financial (NASDAQ:ALRS) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.13. Alerus Financial had a return on equity of 7.66% and a net margin of 6.26%. The business had revenue of $68.79 million for the quarter, compared to analysts’ expectations of $66.20 million. Sell-side analysts expect that Alerus Financial will post 2.14 EPS for the current fiscal year.

Alerus Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 14th were paid a $0.20 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 3.88%. Alerus Financial’s dividend payout ratio is currently 78.43%.

Institutional Investors Weigh In On Alerus Financial

Several hedge funds and other institutional investors have recently modified their holdings of ALRS. Tower Research Capital LLC TRC boosted its position in shares of Alerus Financial by 457.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,277 shares of the company’s stock valued at $25,000 after acquiring an additional 1,048 shares during the period. Legal & General Group Plc boosted its holdings in Alerus Financial by 32.7% in the 4th quarter. Legal & General Group Plc now owns 2,025 shares of the company’s stock valued at $39,000 after purchasing an additional 499 shares during the period. Summit Investment Advisors Inc. boosted its holdings in Alerus Financial by 31.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,349 shares of the company’s stock valued at $45,000 after purchasing an additional 568 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of Alerus Financial during the 4th quarter valued at $56,000. Finally, New York State Common Retirement Fund increased its holdings in shares of Alerus Financial by 41.7% in the fourth quarter. New York State Common Retirement Fund now owns 6,451 shares of the company’s stock worth $124,000 after purchasing an additional 1,900 shares during the period. 51.25% of the stock is currently owned by institutional investors.

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.