Alerus Financial (NASDAQ:ALRS) Releases Earnings Results, Misses Estimates By $0.18 EPS

Alerus Financial (NASDAQ:ALRS) announced its quarterly earnings results on Tuesday. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.18), Yahoo Finance reports. Alerus Financial had a net margin of 2.39% and a return on equity of 7.25%. The business had revenue of $80.58 million for the quarter, compared to analysts’ expectations of $52.30 million. During the same quarter in the previous year, the company posted $0.45 earnings per share.

Alerus Financial Stock Performance

Shares of NASDAQ ALRS traded down $0.17 during mid-day trading on Thursday, hitting $20.23. 83,516 shares of the company were exchanged, compared to its average volume of 58,393. Alerus Financial has a 1-year low of $17.07 and a 1-year high of $25.85. The firm has a market cap of $400.11 million, a price-to-earnings ratio of 57.80 and a beta of 0.66. The stock has a 50 day simple moving average of $22.41 and a 200-day simple moving average of $20.90. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.16.

Alerus Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 13th were paid a $0.20 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.80 annualized dividend and a yield of 3.95%. Alerus Financial’s dividend payout ratio is currently 228.57%.

Analyst Upgrades and Downgrades

ALRS has been the topic of several recent research reports. DA Davidson increased their target price on shares of Alerus Financial from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. 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 lifted their price target on shares of Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Finally, Piper Sandler dropped their price target on shares of Alerus Financial from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $23.20.

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.