Alerus Financial (NASDAQ:ALRS) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Alerus Financial (NASDAQ:ALRS) issued its quarterly earnings data on Thursday. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01, Yahoo Finance reports. The business had revenue of $74.36 million during the quarter, compared to the consensus estimate of $47.40 million. Alerus Financial had a return on equity of 8.20% and a net margin of 3.54%. During the same period in the previous year, the firm posted $0.40 earnings per share.

Alerus Financial Price Performance

NASDAQ:ALRS traded down $0.24 during midday trading on Friday, hitting $20.30. 24,403 shares of the stock were exchanged, compared to its average volume of 28,953. Alerus Financial has a one year low of $13.11 and a one year high of $25.85. The company has a market capitalization of $400.72 million, a price-to-earnings ratio of 41.43 and a beta of 0.65. The business has a 50-day moving average price of $21.30 and a two-hundred day moving average price of $20.57. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.16.

Alerus Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 15th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.76 annualized dividend and a yield of 3.74%. Alerus Financial’s payout ratio is 155.11%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ALRS. TheStreet downgraded Alerus Financial from a “b-” rating to a “c+” rating in a research report on Wednesday, March 13th. DA Davidson boosted their target price on Alerus Financial from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th.

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.