Alerus Financial (NASDAQ:ALRS) Sets New 52-Week High – Still a Buy?

Alerus Financial (NASDAQ:ALRS) hit a new 52-week high during trading on Tuesday . The company traded as high as $28.72 and last traded at $28.54, with a volume of 9283 shares changing hands. The stock had previously closed at $28.21.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ALRS. Wall Street Zen raised Alerus Financial from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Weiss Ratings upgraded shares of Alerus Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Zacks Research upgraded shares of Alerus Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. DA Davidson boosted their target price on shares of Alerus Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Alerus Financial from $25.00 to $27.00 and gave the stock a “market perform” rating in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $28.38.

Alerus Financial Price Performance

The stock’s 50-day moving average price is $25.41 and its 200 day moving average price is $24.06. The firm has a market cap of $712.94 million, a price-to-earnings ratio of 27.54 and a beta of 0.67. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10.

Alerus Financial (NASDAQ:ALRS) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.31. The business had revenue of $75.78 million during the quarter, compared to analyst estimates of $73.78 million. Alerus Financial had a net margin of 6.74% and a return on equity of 14.39%. Equities research analysts predict that Alerus Financial will post 2.95 earnings per share for the current year.

Alerus Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be given a dividend of $0.22 per share. This is an increase from Alerus Financial’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, June 26th. Alerus Financial’s dividend payout ratio (DPR) is currently 81.55%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Larson Financial Group LLC raised its stake in shares of Alerus Financial by 50.0% in the fourth quarter. Larson Financial Group LLC now owns 1,500 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Alerus Financial by 90.1% in the second quarter. NewEdge Advisors LLC now owns 1,544 shares of the company’s stock valued at $33,000 after purchasing an additional 732 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Alerus Financial by 25.7% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,222 shares of the company’s stock valued at $50,000 after purchasing an additional 455 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new position in shares of Alerus Financial in the third quarter valued at $52,000. Finally, AlphaQuest LLC acquired a new position in shares of Alerus Financial in the third quarter valued at $59,000. 51.25% of the stock is currently owned by institutional investors and hedge funds.

Alerus Financial Company Profile

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.