Alerus Financial (NASDAQ:ALRS) Issues Earnings Results, Beats Expectations By $0.16 EPS

Alerus Financial (NASDAQ:ALRS) released its earnings results on Tuesday. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.16, Zacks reports. Alerus Financial had a net margin of 1.01% and a return on equity of 6.02%.

Alerus Financial Stock Down 0.2 %

Shares of NASDAQ:ALRS opened at $20.18 on Wednesday. The stock has a 50-day simple moving average of $20.47 and a 200-day simple moving average of $21.49. The stock has a market capitalization of $511.36 million, a P/E ratio of 126.13 and a beta of 0.71. Alerus Financial has a 1 year low of $17.99 and a 1 year high of $25.85. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.85 and a current ratio of 0.85.

Alerus Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, December 27th were issued a $0.20 dividend. The ex-dividend date was Friday, December 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.96%. Alerus Financial’s dividend payout ratio (DPR) is 500.03%.

Analysts Set New Price Targets

Several research firms have commented on ALRS. Piper Sandler lowered their target price on shares of Alerus Financial from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Keefe, Bruyette & Woods lifted their price objective on Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Raymond James started coverage on Alerus Financial in a research note on Tuesday, January 14th. They issued an “outperform” rating and a $22.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Alerus Financial currently has a consensus rating of “Hold” and an average price target of $22.80.

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.