Alerus Financial Corporation (ALRS)
Financial Services · NCM
Fundamentals
Valuation and ratings
Alerus Financial Corporation trades at USD32.10, which is 26% below the USD40.42 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 28 out of 100, which is little in the way of a moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 30.6 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
ALRS dividend history
Dividends per share by year
| Year | Total per share | Payments |
|---|---|---|
| 2026 (year to date) | USD0.430 | 2 |
| 2025 | USD0.830 | 4 |
| 2024 | USD0.790 | 4 |
| 2023 | USD0.750 | 4 |
| 2022 | USD0.700 | 4 |
| 2021 | USD0.630 | 4 |
| 2020 | USD0.600 | 4 |
| 2019 | USD0.570 | 4 |
| 2018 | USD0.530 | 4 |
| 2017 | USD0.480 | 4 |
| 2016 | USD0.440 | 4 |
Split-adjusted amounts in the listing currency, grouped by the calendar year of the ex-dividend date, from the filed record. Growth and streak figures compare complete years only.
ALRS earnings and analyst estimates
Recommendation mix, 5 analyst ratings
Estimates are the published analyst consensus and move often. An earnings date is scheduled, not certain, and a share tends to reprice most violently on the day itself.
About Alerus Financial Corporation
Alerus Financial Corporation operates as the bank holding company for Alerus Financial, National Association that provides various financial services to businesses and consumers in the United States. The company operates in three segments: Banking, Retirement and Benefit Services, and Wealth. It offers demand deposits, interest-bearing transaction accounts, money market accounts, time and savings deposits, noninterest-bearing deposits, interest-bearing checking accounts, and certificates of deposit; and treasury management products, including electronic receivables management, remote deposit capture, cash vault, merchant, and other cash management services. The company also provides commercial loans, business term loans, and lines of credit; commercial real estate, and commercial and industrial loans; consumer lending products, including residential first mortgage loans; and installment loans, and loans collateralized by cash and marketable securities. In addition, it offers retirement plan, and investment advisory services, employee stock ownership plan, investment fiduciary services, health savings accounts, flex spending accounts, COBRA recordkeeping, and other administration 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 cards, personal and business loans, credit cards, online and mobile banking/wallet, private banking, deposit and payment solutions, mortgages, administration, and government health insurance program services. 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.
ALRS passes 4 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Super investor ownership
5 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Cliff Asness, AQR CAPITAL MANAGEMENT LLC$6.38M · 0.0% of book
- Israel Englander, MILLENNIUM MANAGEMENT LLC$2.54M · 0.0% of book
- Renaissance Technologies, RENAISSANCE TECHNOLOGIES LLC$2.33M · 0.0% of book
- Mairs & Power, MAIRS & POWER INC$1.88M · 0.0% of book
- Two Sigma, TWO SIGMA INVESTMENTS, LP$834.9K · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Alerus Financial Corporation (ALRS) undervalued?
Against our discounted cash flow estimate of USD40.42, ALRS at USD32.10 is 26% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own ALRS?
5 of the institutions we track reported a position in ALRS in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is ALRS's P/E ratio?
ALRS trades at 30.6 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Does Alerus Financial Corporation (ALRS) pay a dividend?
Yes. Alerus Financial Corporation yields 2.61% at the current share price. It has paid USD0.850 per share over the trailing twelve months. It has paid a dividend in each of the last 23 complete calendar years. A dividend is declared by the board and can be cut at any time; a yield is a fact about the current price, not a promise.
When does ALRS report earnings next?
Alerus Financial Corporation is scheduled to report on 29 Jul 2026. Companies move earnings dates, so read it as scheduled rather than certain.
The full research page for ALRS, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.