Alerus Financial price target raised to $24 from $23 at DA Davidson

DA Davidson raised the firm’s price target on Alerus Financial to $24 from $23 and keeps a Neutral rating on the shares. The bank’s Q4 results saw net interest margin reverse a four-quarter downward slide, lifting 10bps and likely signaling more expansion ahead, the analyst tells investors in a research note. The Alerus balance sheet growth was also outstanding, though this is not expected to continue at Q4’s robust pace, the firm added.