Alerus Financial (NASDAQ: ALRS) demoted by Zacks Investment Research to “Hold”
Alerus Financial (NASDAQ: ALRS) was downgraded by Zacks Investment Research from a “strong buy” rating to a “conservation” rating in a rating issued to investors on Wednesday, Zacks.com reports.
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 includes banking services, pension and benefits services, wealth management and mortgages. Alerus Financial Corporation is headquartered in Grand Forks, North Dakota. “
Shares of Alerus Financial traded up $ 0.15 during trading on Wednesday, reaching $ 29.65. The company’s stock had a trading volume of 1,432 shares, compared to its average volume of 26,471. The stock has a 50-day moving average price of $ 31.64 and a two-cent moving average price. days $ 30.26. The company has a current ratio of 0.72, a rapid ratio of 0.70 and a debt ratio of 0.17. The stock has a market cap of $ 510.22 million, a P / E ratio of 10.48 and a beta of 0.79. Alerus Financial has a one-year minimum of $ 24.06 and a one-year maximum of $ 38.31.
Alerus Financial (NASDAQ: ALRS) last reported its quarterly results on Tuesday, October 26. The company reported EPS of $ 0.74 for the quarter, beating the Zacks’ consensus estimate of $ 0.50 by $ 0.24. The company posted revenue of $ 57.17 million in the quarter, compared to analysts’ estimates of $ 53.16 million. Alerus Financial recorded a return on equity of 14.78% and a net margin of 20.39%. During the same period last year, the company made a profit of $ 0.99 per share. As a group, sell-side analysts expect Alerus Financial to post EPS of 2.8 for the current fiscal year.
A number of hedge funds have recently changed their positions in ALRS. BlackRock Inc. increased its position in Alerus Financial by 6.1% in the second quarter. BlackRock Inc. now owns 993,639 shares of the company valued at $ 28,826,000 after purchasing an additional 57,005 shares during the period. John W. Rosenthal Capital Management Inc. increased its position in Alerus Financial shares by 68.8% in the second quarter. John W. Rosenthal Capital Management Inc. now owns 136,218 shares of the company valued at $ 3,952,000 after purchasing an additional 55,526 shares during the period. Geode Capital Management LLC increased its position in Alerus Financial shares by 14.2% in the second quarter. Geode Capital Management LLC now owns 287,869 shares of the company valued at $ 8,351,000 after purchasing an additional 35,685 shares during the period. Alerus Financial NA increased its position in Alerus Financial shares by 1.8% during the second quarter. Alerus Financial NA now owns 1,956,659 shares of the company valued at $ 56,762,000 after purchasing an additional 34,064 shares during the period. Finally, Wakefield Asset Management LLLP acquired a new position in Alerus Financial shares during the second quarter valued at approximately $ 813,000. Hedge funds and other institutional investors hold 37.08% of the company’s shares.
Profile of the financial company Alerus
Alerus Financial Corp. provides financial products and services to businesses and consumers through its subsidiary, Alerus Financial NA. It operates in the following segments: banking, pension and benefits services, wealth management, mortgages and business administration. The banking industry provides loan and deposit products.
Further reading: CAC 40 index
Get a Free Copy of Zacks’ Research Report on Alerus Financial (ALRS)
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [email protected]
Should you invest $ 1,000 in Alerus Financial now?
Before you consider Alerus Financial, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes hold of… and Alerus Financial was not on the list.
Although Alerus Financial currently has an “N / A” rating among analysts, top-rated analysts believe these five stocks are better bets.
See the 5 actions here