Alerus Financial (NASDAQ:ALRS) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Alerus Financial (NASDAQ:ALRS) issued its quarterly earnings results on Wednesday. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01, Yahoo Finance reports. The business had revenue of $74.36 million for the quarter, compared to analysts’ expectations of $47.40 million. Alerus Financial had a net margin of 3.54% and a return on equity of 8.20%. During the same quarter last year, the company posted $0.40 EPS.

Alerus Financial Price Performance

NASDAQ ALRS traded down $0.24 on Friday, reaching $20.30. The company had a trading volume of 24,403 shares, compared to its average volume of 40,779. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $400.72 million, a PE ratio of 41.74 and a beta of 0.65. The firm’s 50 day moving average price is $21.35 and its 200 day moving average price is $20.56. Alerus Financial has a 12 month low of $13.11 and a 12 month high of $25.85.

Alerus Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 15th were issued a $0.19 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.76 dividend on an annualized basis and a yield of 3.74%. Alerus Financial’s dividend payout ratio is currently 155.11%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ALRS shares. TheStreet downgraded shares of Alerus Financial from a “b-” rating to a “c+” rating in a research report on Wednesday, March 13th. DA Davidson raised their price objective on shares of Alerus Financial from $23.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th.

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.