Alerus Financial (NASDAQ:ALRS) Rating Lowered to Hold at Zacks Research

Alerus Financial (NASDAQ:ALRS) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

A number of other research analysts have also issued reports on ALRS. Wall Street Zen lowered Alerus Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Keefe, Bruyette & Woods increased their price target on Alerus Financial from $29.00 to $32.00 and gave the stock a “market perform” rating in a report on Friday, July 31st. DA Davidson set a $36.00 price objective on shares of Alerus Financial in a research report on Friday, July 31st. Piper Sandler boosted their price objective on shares of Alerus Financial from $32.00 to $37.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. Finally, Raymond James Financial restated an “outperform” rating and set a $37.00 price objective on shares of Alerus Financial in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $35.50.

Alerus Financial Stock Performance

NASDAQ ALRS opened at $32.77 on Thursday. The firm has a market cap of $815.97 million, a P/E ratio of 30.92 and a beta of 0.68. Alerus Financial has a 52-week low of $20.31 and a 52-week high of $34.40. The business’s 50-day moving average price is $32.00 and its 200 day moving average price is $27.94. The company has a quick ratio of 0.89, 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, July 29th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. Alerus Financial had a return on equity of 14.41% and a net margin of 6.87%.The firm had revenue of $80.00 million during the quarter, compared to the consensus estimate of $76.99 million. On average, equities research analysts expect that Alerus Financial will post 3.03 earnings per share for the current year.

Hedge Funds Weigh In On Alerus Financial

A number of large investors have recently modified their holdings of ALRS. AQR Capital Management LLC acquired a new stake in shares of Alerus Financial in the 1st quarter valued at approximately $1,195,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Alerus Financial by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,420 shares of the company’s stock valued at $248,000 after buying an additional 546 shares in the last quarter. Jane Street Group LLC acquired a new position in Alerus Financial during the first quarter worth $441,000. Cetera Investment Advisers grew its holdings in Alerus Financial by 29.7% during the second quarter. Cetera Investment Advisers now owns 28,720 shares of the company’s stock worth $622,000 after acquiring an additional 6,575 shares during the period. Finally, Rhumbline Advisers raised its position in Alerus Financial by 3.4% in the second quarter. Rhumbline Advisers now owns 32,263 shares of the company’s stock worth $698,000 after acquiring an additional 1,072 shares in the last quarter. 51.25% of the stock is owned by hedge funds and other institutional investors.

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.