ALERUS FINL COR/SH (OTCMKTS:ALRS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday, Zacks.com reports. The brokerage presently has a $22.00 price objective on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.96% from the company’s previous close.
According to Zacks, “Alerus Financial Corporation is a financial services company, through its subsidiary Alerus Financial, National Association, Alerus offers financial solutions to businesses and consumers. The company’s segment consists of banking, retirement and benefit services, wealth management and mortgage. Alerus Financial Corporation is headquartered in Grand Forks, North Dakota. “
Several other equities research analysts also recently commented on the stock. TheStreet raised shares of ALERUS FINL COR/SH from a “c+” rating to a “b-” rating in a research report on Wednesday, June 17th. Raymond James downgraded shares of ALERUS FINL COR/SH from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 17th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $23.33.
Shares of OTCMKTS:ALRS traded up $0.30 during midday trading on Tuesday, hitting $19.65. 28,681 shares of the company’s stock were exchanged, compared to its average volume of 41,457. The stock has a 50 day moving average price of $19.01 and a 200-day moving average price of $19.48. ALERUS FINL COR/SH has a 12 month low of $15.05 and a 12 month high of $24.00.
ALERUS FINL COR/SH (OTCMKTS:ALRS) last posted its earnings results on Tuesday, April 28th. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.02). The firm had revenue of $46.03 million for the quarter, compared to the consensus estimate of $44.67 million.
A number of institutional investors have recently added to or reduced their stakes in the stock. Alerus Financial NA boosted its holdings in ALERUS FINL COR/SH by 0.6% during the first quarter. Alerus Financial NA now owns 2,009,155 shares of the company’s stock worth $33,191,000 after purchasing an additional 12,663 shares during the last quarter. M3F Inc. boosted its stake in ALERUS FINL COR/SH by 31.3% in the first quarter. M3F Inc. now owns 484,775 shares of the company’s stock valued at $8,008,000 after acquiring an additional 115,425 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in ALERUS FINL COR/SH by 0.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 312,573 shares of the company’s stock valued at $7,142,000 after acquiring an additional 1,540 shares during the last quarter. BlackRock Inc. boosted its stake in ALERUS FINL COR/SH by 50.3% in the first quarter. BlackRock Inc. now owns 163,919 shares of the company’s stock valued at $2,708,000 after acquiring an additional 54,823 shares during the last quarter. Finally, John W. Rosenthal Capital Management Inc. boosted its stake in ALERUS FINL COR/SH by 1.7% in the first quarter. John W. Rosenthal Capital Management Inc. now owns 120,000 shares of the company’s stock valued at $1,982,000 after acquiring an additional 2,050 shares during the last quarter.
ALERUS FINL COR/SH Company Profile
Alerus Financial Corporation, through its subsidiaries, provides various financial services for individuals, families, and businesses. It offers checking and savings accounts, certificates of deposit, personal loans, lines of credit, debit and credit cards, deposit and payment solutions, and mobile wallet, as well as online banking and bill pay, mobile banking, and private banking services.
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