DA Davidson Forecasts Strong Price Appreciation for Alerus Financial (NASDAQ:ALRS) Stock

Alerus Financial (NASDAQ:ALRS) had its price target raised by stock analysts at DA Davidson from $25.00 to $26.00 in a report released on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. DA Davidson’s price target indicates a potential upside of 6.27% from the stock’s previous close.

ALRS has been the subject of several other reports. Piper Sandler lowered their target price on Alerus Financial from $25.50 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, November 4th. Raymond James Financial upgraded shares of Alerus Financial from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $25.00 to $27.00 in a research report on Monday, January 5th. Weiss Ratings upgraded Alerus Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Keefe, Bruyette & Woods increased their price target on shares of Alerus Financial from $24.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday. Finally, Zacks Research raised shares of Alerus Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.00.

Alerus Financial Trading Up 0.4%

ALRS traded up $0.11 during trading on Friday, hitting $24.47. The company’s stock had a trading volume of 89,971 shares, compared to its average volume of 149,435. The stock has a market cap of $621.41 million, a PE ratio of 37.07 and a beta of 0.66. Alerus Financial has a twelve month low of $15.78 and a twelve month high of $25.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89. The firm’s 50 day moving average price is $22.93 and its 200-day moving average price is $22.21.

Alerus Financial (NASDAQ:ALRS) last issued its earnings results on Wednesday, January 28th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.28. The business had revenue of $77.07 million for the quarter, compared to analyst estimates of $71.43 million. Alerus Financial had a net margin of 4.36% and a return on equity of 13.38%. On average, analysts expect that Alerus Financial will post 2.14 earnings per share for the current year.

Institutional Trading of Alerus Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Alerus Financial by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,269,253 shares of the company’s stock worth $28,101,000 after buying an additional 16,779 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Alerus Financial by 5.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 796,693 shares of the company’s stock worth $17,639,000 after purchasing an additional 39,652 shares during the last quarter. Geode Capital Management LLC boosted its stake in Alerus Financial by 4.3% in the second quarter. Geode Capital Management LLC now owns 561,336 shares of the company’s stock valued at $12,150,000 after buying an additional 23,112 shares in the last quarter. Phocas Financial Corp. lifted its stake in Alerus Financial by 102.2% in the fourth quarter. Phocas Financial Corp. now owns 334,357 shares of the company’s stock valued at $7,530,000 after buying an additional 168,987 shares during the period. Finally, Choreo LLC boosted its stake in Alerus Financial by 3.1% during the second quarter. Choreo LLC now owns 294,542 shares of the company’s stock worth $6,391,000 after acquiring an additional 8,727 shares in the last quarter. Hedge funds and other institutional investors own 51.25% of the company’s stock.

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.