Alerus Financial Co. (ALRS) To Go Ex-Dividend on December 27th

Alerus Financial Co. (NASDAQ:ALRS) declared a quarterly dividend on Wednesday, December 11th,Wall Street Journal reports. Stockholders of record on Friday, December 27th will be paid a dividend of 0.20 per share on Friday, January 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend is Friday, December 27th.

Alerus Financial has increased its dividend by an average of 7.7% annually over the last three years and has increased its dividend every year for the last 21 years. Alerus Financial has a dividend payout ratio of 37.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Alerus Financial to earn $1.98 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 40.4%.

Alerus Financial Trading Down 0.4 %

Shares of Alerus Financial stock opened at $19.70 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $499.16 million, a P/E ratio of 123.13 and a beta of 0.69. Alerus Financial has a 52-week low of $18.09 and a 52-week high of $25.85. The stock’s 50-day simple moving average is $22.02 and its 200 day simple moving average is $21.40.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Piper Sandler reduced their price target on Alerus Financial from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Keefe, Bruyette & Woods upped their price target on Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Raymond James raised shares of Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price target on the stock in a report on Tuesday, September 17th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $23.20.

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.