DA Davidson raised the firm’s price target on Alerus Financial to $23 from $20 and keeps a Neutral rating on the shares. The company’s Q2 pre-provision net revenue results outpaced expectations, but an elevated loan loss provigion drove an EPS miss, the analyst tells investors in a research note. The firm adds however that Alerus’ net interest margin appears on an “upward trajectory” through 2025 and deposit gathering has been “steady”.
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Read More on ALRS:
- Alerus Financial price target raised to $24 from $22.50 at Piper Sandler
- Alerus Financial Shares Performance Insights in Update
- Alerus Financial reports Q2 net interest margin 2.39% vs. 2.30% in Q1
- Alerus Financial reports Q2 EPS 31c, consensus 36c
- Alerus Financial Corporation (ALRS) Q2 Earnings Cheat Sheet