Alerus Financial (ALRS) To Go Ex-Dividend on June 26th

Alerus Financial (NASDAQ:ALRS) announced a quarterly dividend on Thursday, May 21st. Shareholders of record on Friday, June 26th will be given a dividend of 0.22 per share on Friday, July 10th. This represents a c) annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, June 26th. This is a 4.8% increase from Alerus Financial’s previous quarterly dividend of $0.21.

Alerus Financial has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 25 consecutive years. Alerus Financial has a payout ratio of 37.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Alerus Financial to earn $2.80 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 31.4%.

Alerus Financial Trading Up 2.1%

NASDAQ:ALRS opened at $30.38 on Wednesday. The company has a market cap of $763.45 million, a P/E ratio of 29.50 and a beta of 0.69. Alerus Financial has a twelve month low of $20.26 and a twelve month high of $30.49. The business has a 50 day moving average price of $27.64 and a two-hundred day moving average price of $25.21. 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 posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.31. The company had revenue of $75.78 million for the quarter, compared to the consensus estimate of $73.78 million. Alerus Financial had a net margin of 6.74% and a return on equity of 14.39%. As a group, analysts expect that Alerus Financial will post 2.95 EPS for the current fiscal year.

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.