Alerus Financial (NASDAQ:ALRS) Posts Quarterly Earnings Results, Beats Expectations By $0.16 EPS

Alerus Financial (NASDAQ:ALRS) announced its earnings results on Tuesday. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.28 by $0.16, Zacks reports. Alerus Financial had a net margin of 1.01% and a return on equity of 6.02%.

Alerus Financial Price Performance

ALRS opened at $20.95 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. Alerus Financial has a 12-month low of $17.99 and a 12-month high of $25.85. The stock has a 50-day moving average price of $20.45 and a 200-day moving average price of $21.49. The stock has a market capitalization of $530.87 million, a P/E ratio of 130.95 and a beta of 0.71.

Alerus Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, December 27th were given a dividend of $0.20 per share. The ex-dividend date was Friday, December 27th. This represents a $0.80 annualized dividend and a yield of 3.82%. Alerus Financial’s payout ratio is presently 500.03%.

Analyst Ratings Changes

A number of research analysts have weighed in on ALRS shares. Piper Sandler dropped their target price on shares of Alerus Financial from $24.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Keefe, Bruyette & Woods boosted their target price on shares of Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, Raymond James started coverage on Alerus Financial in a research note on Tuesday, January 14th. They set an “outperform” rating and a $22.00 price target for the company. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $22.80.

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.