Alerus Financial (NASDAQ:ALRS) Given Outperform Rating at Raymond James

Raymond James reiterated their outperform rating on shares of Alerus Financial (NASDAQ:ALRS) in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a $24.00 price objective on the stock, up from their previous price objective of $22.00.

A number of other analysts have also weighed in on the stock. Keefe, Bruyette & Woods upped their target price on shares of Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler increased 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $23.40.

Alerus Financial Price Performance

Shares of ALRS opened at $21.37 on Thursday. The firm has a 50-day simple moving average of $20.44 and a two-hundred day simple moving average of $21.48. 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 has a 1-year low of $17.99 and a 1-year high of $24.69. The stock has a market cap of $541.52 million, a PE ratio of 20.95 and a beta of 0.71.

Alerus Financial (NASDAQ:ALRS) last released 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 7.66% and a net margin of 6.26%. As a group, analysts forecast that Alerus Financial will post 1.96 EPS for the current year.

Alerus Financial Announces Dividend

The firm also recently declared 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 of this dividend was Friday, December 27th. This represents a $0.80 annualized dividend and a dividend yield of 3.74%. Alerus Financial’s dividend payout ratio is currently 78.43%.

Institutional Trading of Alerus Financial

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in shares of Alerus Financial by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 416,072 shares of the company’s stock worth $9,522,000 after acquiring an additional 15,966 shares in the last quarter. State Street Corp raised its holdings in Alerus Financial by 1.0% during the third quarter. State Street Corp now owns 351,775 shares of the company’s stock worth $8,118,000 after purchasing an additional 3,623 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Alerus Financial by 2.7% during the second quarter. Dimensional Fund Advisors LP now owns 274,615 shares of the company’s stock worth $5,384,000 after purchasing an additional 7,300 shares in the last quarter. Stieven Capital Advisors L.P. purchased a new position in shares of Alerus Financial in the third quarter valued at $5,966,000. Finally, Grace & White Inc. NY acquired a new position in shares of Alerus Financial during the 4th quarter worth $4,930,000. Hedge funds and other institutional investors own 51.25% of the company’s stock.

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.