Alerus Financial Co. (ALRS) To Go Ex-Dividend on March 14th

Alerus Financial Co. (NASDAQ:ALRS) announced a quarterly dividend on Wednesday, February 26th, RTT News reports. Investors of record on Friday, March 14th will be given a dividend of 0.20 per share on Friday, April 11th. This represents a $0.80 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend is Friday, March 14th.

Alerus Financial has raised its dividend payment by an average of 7.8% annually over the last three years and has raised its dividend annually for the last 24 consecutive years. Alerus Financial has a payout ratio of 34.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Alerus Financial to earn $2.43 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 32.9%.

Alerus Financial Trading Down 0.7 %

NASDAQ:ALRS opened at $20.27 on Friday. The firm’s 50 day moving average is $20.26 and its 200 day moving average is $21.45. Alerus Financial has a 12 month low of $17.99 and a 12 month high of $24.41. The stock has a market capitalization of $513.64 million, a PE ratio of 19.87 and a beta of 0.71. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15.

Alerus Financial (NASDAQ:ALRS) last issued its earnings results on Tuesday, January 28th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.16. Alerus Financial had a return on equity of 7.66% and a net margin of 6.26%. Sell-side analysts expect that Alerus Financial will post 2.14 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods increased their target price on shares of Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Raymond James reiterated an “outperform” rating and issued a $24.00 price objective (up from $22.00) on shares of Alerus Financial in a research note on Thursday, January 30th. Piper Sandler raised their price target on Alerus Financial from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Finally, DA Davidson reiterated a “neutral” rating and issued a $23.00 price target on shares of Alerus Financial in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $23.40.

Alerus Financial Company Profile

Alerus Financial Corporation operates as the bank holding company for Alerus Financial, National Association that engages in the provision of various financial services to businesses and consumers. The company operates in four segments: Banking, Mortgage, Retirement and Benefit Services, and Wealth Management.