Alerus Financial (NASDAQ:ALRS) Upgraded to Outperform by Raymond James

Alerus Financial (NASDAQ:ALRS) was upgraded by research analysts at Raymond James from a “market perform” rating to an “outperform” rating in a report issued on Tuesday, FinViz reports. The firm presently has a $24.00 price objective on the stock. Raymond James’ price objective points to a potential upside of 11.27% from the company’s current price.

Several other equities analysts have also recently weighed in on ALRS. Piper Sandler lifted their price objective on Alerus Financial from $22.50 to $24.00 and gave the company a “neutral” rating in a report on Monday, July 29th. DA Davidson boosted their price target on Alerus Financial from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, Keefe, Bruyette & Woods increased their price objective 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. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $23.40.

Alerus Financial Trading Up 0.2 %

Shares of Alerus Financial stock opened at $21.57 on Tuesday. Alerus Financial has a 52-week low of $16.80 and a 52-week high of $25.85. The stock has a market cap of $426.59 million, a PE ratio of 44.02 and a beta of 0.66. The firm has a 50-day moving average of $21.45 and a 200-day moving average of $20.58. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.86.

Alerus Financial (NASDAQ:ALRS) last announced its earnings results on Wednesday, July 24th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.06). Alerus Financial had a return on equity of 7.25% 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 quarter in the previous year, the company earned $0.45 EPS. As a group, sell-side analysts forecast that Alerus Financial will post 1.23 EPS for the current year.

Institutional Trading of Alerus Financial

A number of hedge funds have recently added to or reduced their stakes in ALRS. Cutler Capital Management LLC lifted its stake in shares of Alerus Financial by 0.5% in the 4th quarter. Cutler Capital Management LLC now owns 157,480 shares of the company’s stock valued at $3,526,000 after acquiring an additional 829 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Alerus Financial by 380.7% in the second quarter. Federated Hermes Inc. now owns 1,519 shares of the company’s stock valued at $30,000 after buying an additional 1,203 shares during the period. ICA Group Wealth Management LLC bought a new position in Alerus Financial in the 4th quarter valued at approximately $81,000. Bank of New York Mellon Corp boosted its position in Alerus Financial by 4.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 123,512 shares of the company’s stock worth $2,422,000 after buying an additional 5,323 shares during the period. Finally, Sippican Capital Advisors grew its holdings in Alerus Financial by 11.9% during the 1st quarter. Sippican Capital Advisors now owns 67,390 shares of the company’s stock worth $1,471,000 after acquiring an additional 7,185 shares during the last quarter. Institutional investors and hedge funds own 51.25% of the company’s stock.

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.