ALERUS FINL COR/SH (OTCMKTS:ALRS) Research Coverage Started at Raymond James

Raymond James initiated coverage on shares of ALERUS FINL COR/SH (OTCMKTS:ALRS) in a report published on Tuesday morning, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $25.00 price objective on the stock.

Separately, DA Davidson assumed coverage on shares of ALERUS FINL COR/SH in a research report on Tuesday. They set a neutral rating for the company.

ALRS stock opened at $21.31 on Tuesday. The firm has a 50-day simple moving average of $21.28 and a two-hundred day simple moving average of $19.61. ALERUS FINL COR/SH has a one year low of $18.70 and a one year high of $24.00.

The company also recently declared a — dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be given a dividend of $0.14 per share. This represents a dividend yield of 2.5%. The ex-dividend date of this dividend is Thursday, September 19th.

In other news, Director Lloyd G. Case purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was acquired at an average cost of $21.00 per share, with a total value of $42,000.00. Also, CEO Randy L. Newman purchased 4,571 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were purchased at an average cost of $21.00 per share, with a total value of $95,991.00. Over the last three months, insiders have acquired 13,071 shares of company stock valued at $274,491.

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.

Further Reading: G-20

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