Alerus Financial (NASDAQ:ALRS) Posts Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Alerus Financial (NASDAQ:ALRS) announced its earnings results on Wednesday. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.06), Yahoo Finance reports. Alerus Financial had a return on equity of 7.30% and a net margin of 2.39%. The business had revenue of $80.39 million for the quarter, compared to analyst estimates of $49.20 million. During the same period in the previous year, the company earned $0.45 earnings per share.

Alerus Financial Trading Up 0.4 %

NASDAQ:ALRS traded up $0.09 during trading hours on Friday, hitting $22.09. The company had a trading volume of 78,915 shares, compared to its average volume of 52,856. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average of $19.56 and a 200 day moving average of $20.75. The company has a market cap of $436.94 million, a P/E ratio of 44.90 and a beta of 0.66. Alerus Financial has a 1 year low of $16.80 and a 1 year high of $25.85.

Alerus Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 14th were issued a $0.20 dividend. This is a boost from Alerus Financial’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 3.62%. The ex-dividend date was Friday, June 14th. Alerus Financial’s dividend payout ratio is presently 163.27%.

Analyst Ratings Changes

Several analysts recently commented on ALRS shares. Hovde Group upgraded Alerus Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $21.00 to $23.00 in a research report on Thursday, May 16th. Piper Sandler dropped their target price on Alerus Financial from $23.50 to $22.50 and set a “neutral” rating for the company in a report on Thursday, May 16th.

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.