Alerus Financial (NASDAQ:ALRS) Downgraded by Zacks Research to “Hold”

Alerus Financial (NASDAQ:ALRS) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on ALRS. Piper Sandler upped their price target on Alerus Financial from $32.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Wall Street Zen cut Alerus Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Keefe, Bruyette & Woods lifted their price objective on Alerus Financial from $29.00 to $32.00 and gave the stock a “market perform” rating in a report on Friday, July 31st. DA Davidson set a $36.00 target price on Alerus Financial in a research report on Friday, July 31st. Finally, Raymond James Financial reissued an “outperform” rating and issued a $37.00 target price on shares of Alerus Financial in a report on Monday, August 3rd. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $35.50.

Alerus Financial Stock Up 0.6%

ALRS stock opened at $32.77 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average price is $32.00 and its 200 day moving average price is $27.94. Alerus Financial has a 52 week low of $20.31 and a 52 week high of $34.40. The company has a market cap of $815.97 million, a P/E ratio of 30.92 and a beta of 0.68.

Alerus Financial (NASDAQ:ALRS) last issued its earnings results on Wednesday, July 29th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Alerus Financial had a net margin of 6.87% and a return on equity of 14.41%. The company had revenue of $80.00 million during the quarter, compared to analysts’ expectations of $76.99 million. On average, research analysts expect that Alerus Financial will post 3.03 earnings per share for the current fiscal year.

Institutional Trading of Alerus Financial

Several large investors have recently modified their holdings of ALRS. CANADA LIFE ASSURANCE Co raised its position in shares of Alerus Financial by 25.7% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,222 shares of the company’s stock worth $50,000 after purchasing an additional 455 shares during the last quarter. Larson Financial Group LLC grew its holdings in Alerus Financial by 50.0% during the 4th quarter. Larson Financial Group LLC now owns 1,500 shares of the company’s stock valued at $34,000 after buying an additional 500 shares during the last quarter. First Trust Advisors LP grew its holdings in Alerus Financial by 0.6% during the 1st quarter. First Trust Advisors LP now owns 81,208 shares of the company’s stock valued at $1,925,000 after buying an additional 503 shares during the last quarter. Gator Capital Management LLC grew its holdings in Alerus Financial by 0.8% during the 4th quarter. Gator Capital Management LLC now owns 65,410 shares of the company’s stock valued at $1,473,000 after buying an additional 505 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Alerus Financial by 4.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,420 shares of the company’s stock worth $248,000 after buying an additional 546 shares in the last quarter. 51.25% of the stock is currently owned by institutional investors and hedge funds.

About Alerus Financial

Alerus Financial Corporation (NASDAQ: ALRS) is a diversified financial services company headquartered in Grand Forks, North Dakota. The firm provides a full range of commercial and consumer banking products, including deposit accounts, lending solutions and treasury management services for individuals, small businesses and larger corporate clients. Through its community banking network, Alerus emphasizes local decision-making and personalized service to meet the needs of its varied client base.

In addition to traditional banking offerings, Alerus operates a national mortgage origination and servicing platform that delivers home purchase and refinance loans.