Alerus Financial (NASDAQ:ALRS) Sees Strong Trading Volume – Here’s What Happened

Alerus Financial Co. (NASDAQ:ALRS) saw strong trading volume on Wednesday . 207,621 shares traded hands during trading, an increase of 247% from the previous session’s volume of 59,794 shares.The stock last traded at $22.04 and had previously closed at $22.07.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ALRS shares. Raymond James raised shares of Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price target for the company in a report on Tuesday, September 17th. Piper Sandler cut their target price on shares of Alerus Financial from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Finally, Keefe, Bruyette & Woods raised their price target 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. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $23.20.

Alerus Financial Stock Up 0.9 %

The stock has a market capitalization of $558.45 million, a price-to-earnings ratio of 136.31 and a beta of 0.69. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15. The business’s 50-day moving average is $22.40 and its two-hundred day moving average is $21.29.

Alerus Financial (NASDAQ:ALRS) last issued its earnings results on Tuesday, October 29th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.18). The company had revenue of $80.58 million during the quarter, compared to analyst estimates of $52.30 million. Alerus Financial had a return on equity of 6.02% and a net margin of 1.01%. During the same period last year, the business earned $0.45 earnings per share. Equities analysts anticipate that Alerus Financial Co. will post 0.97 EPS for the current year.

Alerus Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, December 27th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Friday, December 27th. Alerus Financial’s dividend payout ratio is presently 500.00%.

Institutional Investors Weigh In On Alerus Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Federated Hermes Inc. raised its stake in shares of Alerus Financial by 380.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,519 shares of the company’s stock valued at $30,000 after acquiring an additional 1,203 shares during the period. SG Americas Securities LLC acquired a new stake in Alerus Financial in the 3rd quarter valued at approximately $142,000. Harbor Advisors LLC acquired a new position in Alerus Financial during the third quarter worth $226,000. Bailard Inc. acquired a new position in Alerus Financial during the 2nd quarter worth about $265,000. Finally, Inspire Investing LLC acquired a new position in Alerus Financial in the 3rd quarter valued at about $417,000. 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.