Alerus Financial Corporation, through its subsidiary, Alerus Financial, National Association, provides various financial services to businesses and consumers. The company operates through four segments: Banking, Retirement and Benefit Services, Wealth Management, and Mortgage. It offers various deposit products, including demand deposits, checking accounts, interest-bearing transaction accounts, money market accounts, time and savings deposits, and certificates of deposit; and treasury management products, including electronic receivables management, remote deposit capture, cash vault services, merchant services, and other cash management services. The company also provides commercial loans, business term loans, lines of credit, and commercial real estate loans, as well as construction and land development loans; consumer lending products, including residential first mortgage loans; installment loans and lines of credit; and second mortgage loans. In addition, it offers retirement plan administration and investment advisory services, employee stock ownership plan, fiduciary services, payroll, health savings accounts, and other benefit services, as well as individual retirement accounts; and financial planning, investment management, personal and corporate trust, estate administration, and custody services. Further, the company provides debit and credit cards, online banking, mobile banking/wallet, payment, private banking, payroll accounts, flex spending accounts, administration, and government health insurance program services. It offers banking services through fourteen offices in North Dakota, Minnesota, and Arizona; and retirement and benefit plans in 50 states through offices located in Michigan, Minnesota, and Colorado. The company was formerly known as First National Bank North Dakota and changed its name to Alerus Financial Corporation in 2000. Alerus Financial Corporation was founded in 1879 and is headquartered in Grand Forks, North Dakota.
IPO Year: 2019
Exchange: NASDAQ
Website: alerus.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 9/17/2024 | $24.00 | Mkt Perform → Outperform | Raymond James |
| 5/16/2024 | $21.00 → $23.00 | Market Perform → Outperform | Hovde Group |
| 4/12/2023 | $18.00 | Mkt Perform | Keefe Bruyette |
| 1/27/2023 | Mkt Perform | Raymond James | |
| 1/26/2023 | $21.00 | Outperform → Market Perform | Hovde Group |
| 7/29/2022 | $27.00 → $28.00 | Market Perform → Outperform | Hovde Group |
| 5/18/2022 | $29.00 | Market Perform | Hovde Group |
4 - ALERUS FINANCIAL CORP (0000903419) (Issuer)
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4 - ALERUS FINANCIAL CORP (0000903419) (Issuer)
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4 - ALERUS FINANCIAL CORP (0000903419) (Issuer)
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Alerus Financial Corporation (NASDAQ:ALRS) (the "Company") announced that, effective May 10, 2022, Dan Coughlin was appointed by the Board of Directors to serve as Chairman of the Board. Mr. Coughlin replaces former Alerus Chairman, President, and Chief Executive Officer, Randy Newman, who served as Executive Chairman of the Board since Jan. 1, 2022, to support the leadership transition to current President and Chief Executive Officer Katie Lorenson. Mr. Newman will remain as a director of the Company. "It has been one of the greatest honors of my life to lead and grow Alerus. This company will forever mean so much to me, and I know Katie shares this same passion," said Mr. Newman. "I am
4 - ALERUS FINANCIAL CORP (0000903419) (Issuer)
Alerus Financial Corporation (NASDAQ:ALRS), or the Company, reported net income of $5.2 million for the third quarter of 2024, or $0.26 per diluted common share, compared to net income of $6.2 million, or $0.31 per diluted common share, for the second quarter of 2024, and net income of $9.2 million, or $0.45 per diluted common share, for the third quarter of 2023. CEO Comments President and Chief Executive Officer Katie Lorenson said, "Earlier this month we closed on our 26th and largest acquisition in company history. In the transaction, we acquired a strong core deposit base and strategically expanded into the vibrant Rochester and Southern Minnesota markets. Throughout the quarter and
Transaction Expands Alerus Footprint into Rochester, MN MSA Jeffrey Bolton Joins Board of Directors Alerus Financial Corporation (NASDAQ:ALRS) and its wholly owned subsidiary, Alerus Financial, National Association, (together, "Alerus") announced today they have completed the previously announced acquisition of HMN Financial, Inc. (NASDAQ:HMNF) and its wholly owned subsidiary, Home Federal Savings Bank (together, "Home Federal"). Under the terms of the transaction, HMN Financial, Inc. merged with and into Alerus Financial Corporation, and Home Federal Savings Bank merged with and into Alerus Financial, National Association. The all-stock transaction is valued at approximately $128.8 mill
Alerus Financial Corporation (NASDAQ:ALRS) announced that it will issue its third quarter financial results on Tuesday, October 29, 2024. Alerus Financial Corporation will also host a conference call at 11:00 a.m. Central Time on Wednesday, October 30, 2024, to discuss its financial results. Analysts and institutional investors may participate in the question-and-answer session. Attendees are encouraged to register ahead of time for the call. Conference Call Information Date: Wednesday, October 30, 2024 Time: 12:00 p.m. Eastern Time / 11:00 a.m. Central Time Register: https://www.netroadshow.com/events/login?show=dcf06687&confId=71912 Telephone Access: 1-833-470-1428 Access Code: 572067
GRAND FORKS, N.D. and ROCHESTER, Minn., Sept. 26, 2024 (GLOBE NEWSWIRE) -- Alerus Financial Corporation (NASDAQ:ALRS) and its wholly owned subsidiary, Alerus Financial, National Association, (together, "Alerus") announced today they have received all regulatory approvals necessary to complete the previously announced acquisition of HMN Financial, Inc. (NASDAQ:HMNF) and its wholly owned subsidiary, Home Federal Savings Bank (together, "Home Federal"). The merger was unanimously approved by the board of directors of each company. Stockholders of each company approved the all-stock transaction during special meetings held September 12, 2024. Alerus and Home Federal anticipate the acquisition
Alerus Financial Corporation (NASDAQ:ALRS) and its wholly owned subsidiary, Alerus Financial, National Association, (together, "Alerus") announced today they have received all regulatory approvals necessary to complete the previously announced acquisition of HMN Financial, Inc. (NASDAQ:HMNF) and its wholly owned subsidiary, Home Federal Savings Bank (together, "Home Federal"). The merger was unanimously approved by the board of directors of each company. Stockholders of each company approved the all-stock transaction during special meetings held September 12, 2024. Alerus and Home Federal anticipate the acquisition will close early in the fourth quarter of 2024, subject to customary closing
Alerus Financial Corporation (NASDAQ:ALRS) announced that its board of directors declared a regular quarterly cash dividend of $0.20 per common share on August 20, 2024, a 5.26% increase over the dividend paid a year ago. The dividend is payable on October 11, 2024, to stockholders of record as of close of business on September 13, 2024. Current and historic dividend information, as well as quarterly financial statements, investor presentations, and earnings call transcripts are available online through Alerus' investor relations website at investors.alerus.com. About Alerus Financial Corporation Alerus Financial Corporation (NASDAQ:ALRS) is a commercial wealth bank and national retirem
Alerus Financial Corporation (NASDAQ:ALRS), or the Company, reported net income of $6.2 million for the second quarter of 2024, or $0.31 per diluted common share, compared to net income of $6.4 million, or $0.32 per diluted common share, for the first quarter of 2024, and net income of $9.1 million, or $0.45 per diluted common share, for the second quarter of 2023. CEO Comments President and Chief Executive Officer Katie Lorenson said, "We continued to see improvement in our underlying core business during the second quarter of 2024. Overall revenues grew 8% sequentially from the prior quarter as both our spread based and fee based revenues grew at a similar rate. A continued rebound in
Second Quarter Summary Net income of $1.0 million, down $0.4 million, from $1.4 million for second quarter of 2023Diluted earnings per share of $0.22, down $0.10, from $0.32 for second quarter of 2023Net interest income of $7.5 million, down $0.2 million, from $7.7 million for second quarter of 2023Gain on sales of loans of $0.6 million, up $0.3 million, from $0.3 million for second quarter of 2023Net interest margin of 2.70%, down 20 basis points, from 2.90% for second quarter of 2023Goodwill impairment of $0.8 million was recorded in the second quarter of 2024As previously announced, on May 14, 2024, we entered into a definitive Agreement and Plan of Merger to which Alerus Financial Corpo
Alerus Financial Corporation (NASDAQ:ALRS) announced that it will issue its second quarter financial results on Wednesday, July 24, 2024. Alerus Financial Corporation will also host a conference call at 11:00 a.m. Central Time on Thursday, July 25, 2024, to discuss its financial results. Analysts and institutional investors may participate in the question-and-answer session. Attendees are encouraged to register ahead of time for the call. Conference Call Information Date: Thursday, July 25, 2024 Time: Register: 12:00 p.m. Eastern Time / 11:00 a.m. Central Time https://www.netroadshow.com/events/login?show=5bfed352&confId=67391 Telephone Access
Alerus Financial Corporation (NASDAQ:ALRS) is pleased to announce it is expanding its specialty lending capabilities with the addition of an experienced team focused on providing equipment financing to commercial banking clients throughout the company's geographic footprint. Brian Scott joins Alerus as managing director of the equipment finance team. In this role, he oversees the team's activities and guides lending activities for clients across a range of industries. Scott has over 25 years of financial industry experience and served most recently as managing director of equipment finance at Western Alliance in Phoenix, where he oversaw the equipment finance division and led business dev
Raymond James upgraded Alerus Financial from Mkt Perform to Outperform and set a new price target of $24.00
Hovde Group upgraded Alerus Financial from Market Perform to Outperform and set a new price target of $23.00 from $21.00 previously
Keefe Bruyette initiated coverage of Alerus Financial with a rating of Mkt Perform and set a new price target of $18.00
Raymond James resumed coverage of Alerus Financial with a rating of Mkt Perform
Hovde Group downgraded Alerus Financial from Outperform to Market Perform and set a new price target of $21.00
Hovde Group upgraded Alerus Financial from Market Perform to Outperform and set a new price target of $28.00 from $27.00 previously
Hovde Group initiated coverage of Alerus Financial with a rating of Market Perform and set a new price target of $29.00
Alerus Financial Corporation (NASDAQ:ALRS), or the Company, reported net income of $5.2 million for the third quarter of 2024, or $0.26 per diluted common share, compared to net income of $6.2 million, or $0.31 per diluted common share, for the second quarter of 2024, and net income of $9.2 million, or $0.45 per diluted common share, for the third quarter of 2023. CEO Comments President and Chief Executive Officer Katie Lorenson said, "Earlier this month we closed on our 26th and largest acquisition in company history. In the transaction, we acquired a strong core deposit base and strategically expanded into the vibrant Rochester and Southern Minnesota markets. Throughout the quarter and
Alerus Financial Corporation (NASDAQ:ALRS) announced that it will issue its third quarter financial results on Tuesday, October 29, 2024. Alerus Financial Corporation will also host a conference call at 11:00 a.m. Central Time on Wednesday, October 30, 2024, to discuss its financial results. Analysts and institutional investors may participate in the question-and-answer session. Attendees are encouraged to register ahead of time for the call. Conference Call Information Date: Wednesday, October 30, 2024 Time: 12:00 p.m. Eastern Time / 11:00 a.m. Central Time Register: https://www.netroadshow.com/events/login?show=dcf06687&confId=71912 Telephone Access: 1-833-470-1428 Access Code: 572067
Alerus Financial Corporation (NASDAQ:ALRS) announced that its board of directors declared a regular quarterly cash dividend of $0.20 per common share on August 20, 2024, a 5.26% increase over the dividend paid a year ago. The dividend is payable on October 11, 2024, to stockholders of record as of close of business on September 13, 2024. Current and historic dividend information, as well as quarterly financial statements, investor presentations, and earnings call transcripts are available online through Alerus' investor relations website at investors.alerus.com. About Alerus Financial Corporation Alerus Financial Corporation (NASDAQ:ALRS) is a commercial wealth bank and national retirem
Alerus Financial Corporation (NASDAQ:ALRS), or the Company, reported net income of $6.2 million for the second quarter of 2024, or $0.31 per diluted common share, compared to net income of $6.4 million, or $0.32 per diluted common share, for the first quarter of 2024, and net income of $9.1 million, or $0.45 per diluted common share, for the second quarter of 2023. CEO Comments President and Chief Executive Officer Katie Lorenson said, "We continued to see improvement in our underlying core business during the second quarter of 2024. Overall revenues grew 8% sequentially from the prior quarter as both our spread based and fee based revenues grew at a similar rate. A continued rebound in
Second Quarter Summary Net income of $1.0 million, down $0.4 million, from $1.4 million for second quarter of 2023Diluted earnings per share of $0.22, down $0.10, from $0.32 for second quarter of 2023Net interest income of $7.5 million, down $0.2 million, from $7.7 million for second quarter of 2023Gain on sales of loans of $0.6 million, up $0.3 million, from $0.3 million for second quarter of 2023Net interest margin of 2.70%, down 20 basis points, from 2.90% for second quarter of 2023Goodwill impairment of $0.8 million was recorded in the second quarter of 2024As previously announced, on May 14, 2024, we entered into a definitive Agreement and Plan of Merger to which Alerus Financial Corpo
Alerus Financial Corporation (NASDAQ:ALRS) announced that it will issue its second quarter financial results on Wednesday, July 24, 2024. Alerus Financial Corporation will also host a conference call at 11:00 a.m. Central Time on Thursday, July 25, 2024, to discuss its financial results. Analysts and institutional investors may participate in the question-and-answer session. Attendees are encouraged to register ahead of time for the call. Conference Call Information Date: Thursday, July 25, 2024 Time: Register: 12:00 p.m. Eastern Time / 11:00 a.m. Central Time https://www.netroadshow.com/events/login?show=5bfed352&confId=67391 Telephone Access
Alerus Financial Corporation (NASDAQ:ALRS) announced that its board of directors declared a regular quarterly cash dividend of $0.20 per common share on May 21, 2024, a 5.26% increase over the dividend paid a year ago. The dividend is payable on July 15, 2024, to stockholders of record as of close of business on June 14, 2024. Current and historic dividend information, as well as quarterly financial statements, investor presentations, and earnings call transcripts are available online through Alerus' investor relations website at investors.alerus.com. About Alerus Financial Corporation Alerus Financial Corporation (NASDAQ:ALRS) is a commercial wealth bank and national retirement service
Alerus Financial Corporation ("Alerus") (NASDAQ:ALRS) and HMN Financial, Inc. ("HMNF") (NASDAQ:HMNF) jointly announced today the signing of a definitive Agreement and Plan of Merger (the "Merger Agreement") pursuant to which Alerus will acquire, in an all-stock merger, HMNF, a savings and loan holding company headquartered in Rochester, Minnesota, and the parent company of Home Federal Savings Bank ("Home Federal"). Under the terms of the Merger Agreement, HMNF will merge with and into Alerus (the "Merger") and Home Federal will merge with and into Alerus' wholly-owned bank subsidiary, Alerus Financial, National Association, in a transaction valued at approximately $116.4 million. This pre
GRAND FORKS, N.D. & ROCHESTER, Minn., May 15, 2024 (GLOBE NEWSWIRE) -- Alerus Financial Corporation ("Alerus") (NASDAQ:ALRS) and HMN Financial, Inc. ("HMNF") (NASDAQ:HMNF) jointly announced today the signing of a definitive Agreement and Plan of Merger (the "Merger Agreement") pursuant to which Alerus will acquire, in an all-stock merger, HMNF, a savings and loan holding company headquartered in Rochester, Minnesota, and the parent company of Home Federal Savings Bank ("Home Federal"). Under the terms of the Merger Agreement, HMNF will merge with and into Alerus (the "Merger") and Home Federal will merge with and into Alerus' wholly-owned bank subsidiary, Alerus Financial, National Associa
Alerus Financial Corporation (NASDAQ:ALRS), or the Company, reported net income of $6.4 million for the first quarter of 2024, or $0.32 per diluted common share, compared to a net loss of $14.8 million, or ($0.73) per diluted common share, for the fourth quarter of 2023, and net income of $8.2 million, or $0.40 per diluted common share, for the first quarter of 2023. CEO Comments President and Chief Executive Officer Katie Lorenson said, "Our momentum continues into 2024 as we started the year with strong production and client acquisition in our commercial wealth bank and national retirement businesses. Deposit growth and inflows were robust at over 6%, adjusted net interest margin expa
Alerus Finl (NASDAQ:ALRS) reported quarterly earnings of $0.31 per share which missed the analyst consensus estimate of $0.36 by 13.89 percent. The company reported quarterly sales of $51.372 million which beat the analyst consensus estimate of $49.058 million by 4.72 percent. This is a 7.00 percent increase over sales of $48.012 million the same period last year.
Piper Sandler analyst Nathan Race maintains Alerus Finl (NASDAQ:ALRS) with a Neutral and lowers the price target from $23.5 to $22.5.
Alerus Financial Corporation ("Alerus") (NASDAQ:ALRS) and HMN Financial, Inc. ("HMNF") (NASDAQ:HMNF) jointly announced today the signing of a definitive Agreement and Plan of Merger (the "Merger Agreement") pursuant to which Alerus will acquire, in an all-stock merger, HMNF, a savings and loan holding company headquartered in Rochester, Minnesota, and the parent company of Home Federal Savings Bank ("Home Federal"). Under the terms of the Merger Agreement, HMNF will merge with and into Alerus (the "Merger") and Home Federal will merge with and into Alerus' wholly-owned bank subsidiary, Alerus Financial, National Association, in a transaction valued at approximately $116.4 million.This press
Alerus Finl (NASDAQ:ALRS) reported quarterly earnings of $0.32 per share which met the analyst consensus estimate. This is a 20 percent decrease over earnings of $0.40 per share from the same period last year. The company reported quarterly sales of $47.542 million which beat the analyst consensus estimate of $47.448 million by 0.20 percent. This is a 2.80 percent decrease over sales of $48.911 million the same period last year.
DA Davidson analyst Jeffrey Rulis maintains Alerus Finl (NASDAQ:ALRS) with a Neutral and raises the price target from $23 to $24.
Alerus Finl (NASDAQ:ALRS) reported quarterly earnings of $0.50 per share which beat the analyst consensus estimate of $0.29 by 72.41 percent. This is a 5.66 percent decrease over earnings of $0.53 per share from the same period last year. The company reported quarterly sales of $20.84 million which missed the analyst consensus estimate of $45.38 million by 54.09 percent. This is a 60.30 percent decrease over sales of $52.48 million the same period last year.
Alerus Finl (NASDAQ:ALRS) reported its Q4 earnings results on Wednesday, January 24, 2024 at 04:15 PM. Here's what investors need to know about the announcement. Earnings Alerus Finl beat estimated earnings by 72.41%, reporting an EPS of $0.5 versus an estimate of $0.29. Revenue was down $31.64 million from the same period last year. Past Earnings Performance Last quarter the company beat on EPS by $0.09 which was followed by a 1.66% increase in the share price the next day. Here's a look at Alerus Finl's past performance: Quarter Q3 2023 Q2 2023 Q1 2023 Q4 2022 EPS Estimate 0.36 0.35 0.37 0.57 EPS Actual 0.45 0.45 0.40 0.53 Revenue Estimate 47.73M 48.38M 49.00M 55.71M Revenue A
Companies Reporting Before The Bell • Freeport-McMoRan (NYSE:FCX) is estimated to report quarterly earnings at $0.22 per share on revenue of $5.86 billion. • General Dynamics (NYSE:GD) is estimated to report quarterly earnings at $3.68 per share on revenue of $11.37 billion. • ASML Holding (NASDAQ:ASML) is expected to report quarterly earnings at $5.27 per share on revenue of $7.53 billion. • Blue Foundry (NASDAQ:BLFY) is likely to report quarterly loss at $0.15 per share on revenue of $9.55 million. • Prosperity Bancshares (NYSE:PB) is estimated to report quarterly earnings at $1.17 per share on revenue of $280.02 million. • Progressive (NYSE:PGR) is likely to report quarterly earning
Alerus Finl (NASDAQ:ALRS) is set to give its latest quarterly earnings report on Wednesday, 2024-01-24. Here's what investors need to know before the announcement. Analysts estimate that Alerus Finl will report an earnings per share (EPS) of $0.29. Alerus Finl bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter. New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast). Historical Earnings Performance Last quarter the company beat EPS by $0.09, which was followed by a 1.66% increase in the s
Monday marks the last chance for investors to receive the next dividend payout from Alerus Finl (NASDAQ:ALRS). What's Happening The company announced on Thursday that it would pay shareholders a quarterly dividend of 19 cents per share. On Tuesday, Alerus Finl will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 19 cents lower than it would have opened on any other day. In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Tuesday. Shareholders who own ALRS as of the end of Monday's session are eligible to receive the 19 cents dividend payout