Fintel reports that on July 31, 2023, DA Davidson maintained coverage of Alerus Financial (NASDAQ:ALRS) with a Neutral recommendation.
Analyst Price Forecast Suggests 3.31% Downside
As of July 6, 2023, the average one-year price target for Alerus Financial is 19.12. The forecasts range from a low of 17.17 to a high of $21.00. The average price target represents a decrease of 3.31% from its latest reported closing price of 19.78.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Alerus Financial is 231MM, an increase of 13.32%. The projected annual non-GAAP EPS is 2.41.
Alerus Financial Declares $0.19 Dividend
On May 10, 2023 the company declared a regular quarterly dividend of $0.19 per share ($0.76 annualized). Shareholders of record as of June 15, 2023 received the payment on July 14, 2023. Previously, the company paid $0.18 per share.
At the current share price of $19.78 / share, the stock's dividend yield is 3.84%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.78%, the lowest has been 1.76%, and the highest has been 5.33%. The standard deviation of yields is 0.68 (n=236).
The current dividend yield is 1.55 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.40. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.27%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 203 funds or institutions reporting positions in Alerus Financial. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to ALRS is 0.06%, a decrease of 25.47%. Total shares owned by institutions increased in the last three months by 0.30% to 9,479K shares. 
The put/call ratio of ALRS is 0.80, indicating a bullish outlook.
What are Other Shareholders Doing?
Alerus Financial Na holds 2,278K shares representing 11.44% ownership of the company. In it's prior filing, the firm reported owning 2,248K shares, representing an increase of 1.29%. The firm decreased its portfolio allocation in ALRS by 32.57% over the last quarter.
Banc Funds Co holds 583K shares representing 2.93% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 537K shares representing 2.70% ownership of the company. In it's prior filing, the firm reported owning 537K shares, representing a decrease of 0.04%. The firm decreased its portfolio allocation in ALRS by 36.56% over the last quarter.
IWM - iShares Russell 2000 ETF holds 342K shares representing 1.72% ownership of the company. In it's prior filing, the firm reported owning 366K shares, representing a decrease of 6.99%. The firm decreased its portfolio allocation in ALRS by 32.88% over the last quarter.
Geode Capital Management holds 302K shares representing 1.52% ownership of the company. In it's prior filing, the firm reported owning 291K shares, representing an increase of 3.87%. The firm decreased its portfolio allocation in ALRS by 33.83% over the last quarter.
Alerus Financial Background Information
(This description is provided by the company.)
Alerus Financial Corporation is a diversified financial services company headquartered in Grand Forks, ND. Through its subsidiary, Alerus Financial, N.A., Alerus provides innovative and comprehensive financial solutions to businesses and consumers through four distinct business segments-banking, retirement and benefit services, wealth management, and mortgage. These solutions are delivered through a relationship-oriented primary point of contact along with responsive and client-friendly technology. Alerus Financial banking and wealth management offices are located in Grand Forks and Fargo, ND, the Minneapolis-St. Paul, MN metropolitan area and Scottsdale and Mesa, AZ. Alerus Retirement and Benefits plan administration offices are located in St. Paul, MN, East Lansing, MI, and Littleton, CO.
Additional reading:
- ALERUS FINANCIAL CORPORATION REPORTS SECOND QUARTER 2023 NET INCOME OF $9.1 MILLION
- 1 Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation
- ALERUS FINANCIAL CORPORATION DECLARES CASH DIVIDEND ON COMMON SHARES
- ALERUS FINANCIAL CORPORATION REPORTS FIRST QUARTER 2023 NET INCOME OF $8.2 MILLION
- 1 Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
