Alerus Financial (NASDAQ:ALRS) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Alerus Financial (NASDAQ:ALRS) had its price objective hoisted by equities researchers at Keefe, Bruyette & Woods from $22.00 to $23.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 4.59% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Raymond James raised shares of Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 target price for the company in a report on Tuesday, September 17th. Piper Sandler dropped their price objective on Alerus Financial from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $23.20.

Alerus Financial Price Performance

Shares of Alerus Financial stock traded up $0.19 during trading on Wednesday, reaching $21.99. The company’s stock had a trading volume of 4,580 shares, compared to its average volume of 59,886. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $557.23 million, a P/E ratio of 137.45 and a beta of 0.69. Alerus Financial has a one year low of $18.09 and a one year high of $25.85. The stock has a 50-day moving average price of $22.43 and a two-hundred day moving average price of $21.19.

Alerus Financial (NASDAQ:ALRS) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.18). The firm had revenue of $80.58 million for the quarter, compared to analyst estimates of $52.30 million. Alerus Financial had a return on equity of 6.02% and a net margin of 1.01%. During the same period in the prior year, the company posted $0.45 EPS. As a group, sell-side analysts anticipate that Alerus Financial will post 0.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Alerus Financial

Several large investors have recently modified their holdings of ALRS. Federated Hermes Inc. boosted its position in Alerus Financial by 380.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,519 shares of the company’s stock worth $30,000 after acquiring an additional 1,203 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Alerus Financial by 5.1% during the 3rd quarter. Empowered Funds LLC now owns 46,937 shares of the company’s stock worth $1,074,000 after buying an additional 2,278 shares during the last quarter. State Street Corp increased its position in shares of Alerus Financial by 1.0% in the third quarter. State Street Corp now owns 351,775 shares of the company’s stock valued at $8,118,000 after acquiring an additional 3,623 shares during the last quarter. Sippican Capital Advisors raised its holdings in Alerus Financial by 4.8% during the third quarter. Sippican Capital Advisors now owns 80,525 shares of the company’s stock worth $1,842,000 after acquiring an additional 3,665 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Alerus Financial by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 149,280 shares of the company’s stock valued at $3,416,000 after purchasing an additional 5,184 shares during the last quarter. 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.