Alerus Financial (ALRS) To Go Ex-Dividend on March 27th

Alerus Financial (NASDAQ:ALRS) announced a quarterly dividend on Thursday, February 26th. Stockholders of record on Friday, March 27th will be paid a dividend of 0.21 per share on Friday, April 10th. This represents a c) dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, March 27th.

Alerus Financial has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 25 years. Alerus Financial has a dividend payout ratio of 35.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Alerus Financial to earn $2.43 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 34.6%.

Alerus Financial Stock Performance

Alerus Financial stock opened at $23.84 on Friday. The stock has a 50-day simple moving average of $24.05 and a 200 day simple moving average of $22.72. The stock has a market capitalization of $605.54 million, a price-to-earnings ratio of 36.12 and a beta of 0.64. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. Alerus Financial has a 12-month low of $15.78 and a 12-month high of $26.32.

Alerus Financial (NASDAQ:ALRS) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.28. Alerus Financial had a net margin of 4.36% and a return on equity of 13.38%. The firm had revenue of $77.07 million during the quarter, compared to analysts’ expectations of $71.43 million. On average, research analysts anticipate that Alerus Financial will post 2.14 earnings per share for the current fiscal year.

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.