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ALRS 
Alerus Financial Corp (ALRS)
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Upturn Advisory Summary
01/08/2026: ALRS (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
5 Analysts rated it
Limited analyst coverage, niche firm, research info may be scarce.
1 Year Target Price $25.2
1 Year Target Price $25.2
| 1 | Strong Buy |
| 1 | Buy |
| 3 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 8.15% | Avg. Invested days 44 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  2.0 |
| Profits based on simulation | Last Close 01/08/2026 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 589.47M USD | Price to earnings Ratio 12.28 | 1Y Target Price 25.2 |
Price to earnings Ratio 12.28 | 1Y Target Price 25.2 | ||
Volume (30-day avg) 5 | Beta 0.67 | 52 Weeks Range 15.34 - 24.15 | Updated Date 01/7/2026 |
52 Weeks Range 15.34 - 24.15 | Updated Date 01/7/2026 | ||
Dividends yield (FY) 3.51% | Basic EPS (TTM) 1.89 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 18.31% | Operating Margin (TTM) 34.03% |
Management Effectiveness
Return on Assets (TTM) 1.07% | Return on Equity (TTM) 10.76% |
Valuation
Trailing PE 12.28 | Forward PE - | Enterprise Value 791817408 | Price to Sales(TTM) 2.14 |
Enterprise Value 791817408 | Price to Sales(TTM) 2.14 | ||
Enterprise Value to Revenue 3.16 | Enterprise Value to EBITDA - | Shares Outstanding 25397303 | Shares Floating 23430790 |
Shares Outstanding 25397303 | Shares Floating 23430790 | ||
Percent Insiders 8.25 | Percent Institutions 59.64 |
Upturn AI SWOT
Alerus Financial Corp
Company Overview
History and Background
Alerus Financial Corporation, founded in 1935 as Grand Forks National Bank, has evolved into a diversified financial services company. It rebranded to Alerus Financial in 2000 to reflect its expanded offerings beyond traditional banking. Key milestones include its IPO in 2019, listing on Nasdaq under the ticker symbol ALRS, and strategic acquisitions to broaden its geographic reach and service portfolio.
Core Business Areas
- Community Banking: Provides a full suite of deposit, loan, and other banking services to individuals and businesses in its primary markets, with a focus on personalized service and community involvement.
- Retirement and Benefits Services: Offers comprehensive retirement plan administration, including 401(k), 403(b), IRA, and health savings account (HSA) services to businesses and individuals nationwide. This segment is a significant growth driver.
- Wealth Management: Delivers investment management, financial planning, and trust services to high-net-worth individuals, families, and institutions. This includes brokerage, advisory, and estate planning services.
Leadership and Structure
Alerus Financial Corporation operates with a hierarchical structure, led by a Board of Directors and an executive management team. Key executives include the CEO, CFO, and heads of various business segments. The company is organized into divisions reflecting its core business areas: Community Banking, Retirement and Benefits Services, and Wealth Management.
Top Products and Market Share
Key Offerings
- HSA Administration: Alerus offers comprehensive Health Savings Account administration services, including account setup, debit cards, investment options, and seamless integration with health plans. While precise market share for HSA administration is fragmented, Alerus is a significant player in the third-party administrator space. Competitors include large financial institutions and specialized HSA providers like HealthEquity, Further, and Optum Financial.
- 401(k) Plan Administration: Provides full-service administration for 401(k) and other defined contribution retirement plans, including recordkeeping, compliance, participant education, and investment management. Alerus competes with a wide array of retirement plan providers, from large recordkeepers like Fidelity and Charles Schwab to smaller, regional administrators.
- Community Banking Loans: Offers a variety of commercial and consumer loans, including real estate mortgages, business lines of credit, and personal loans. Market share in this segment is localized to Alerus's banking footprint, where it competes with national banks, regional banks, and credit unions.
Market Dynamics
Industry Overview
Alerus Financial operates within the highly competitive and regulated U.S. financial services industry, encompassing community banking, retirement services, and wealth management. The banking sector is influenced by interest rate environments, regulatory changes, and economic conditions. The retirement and benefits services sector is driven by increasing demand for retirement planning and employee benefits, while wealth management is shaped by market volatility, demographic shifts, and evolving investor preferences.
Positioning
Alerus Financial differentiates itself through its diversified business model, with a strong focus on the growing retirement and benefits services segment, particularly HSAs. Its community banking roots provide a loyal customer base in its geographic markets, and its wealth management services cater to a broader, often national, client base. Key competitive advantages include its integrated technology platform for retirement services and a personalized approach to client relationships.
Total Addressable Market (TAM)
The total addressable market for Alerus's services is substantial. The U.S. retirement services market is valued in trillions of dollars, with continued growth in defined contribution plans and HSAs. The wealth management market is similarly vast, serving individuals and institutions with significant assets. Community banking TAM is regional but still represents a large aggregate market. Alerus, while a smaller player overall, has strategically targeted niche areas within these larger markets where it can achieve significant penetration and growth.
Upturn SWOT Analysis
Strengths
- Diversified revenue streams from banking, retirement, and wealth management.
- Strong and growing presence in the retirement and benefits services sector, particularly HSAs.
- Integrated technology platform for retirement plan administration.
- Established community banking presence and loyal customer base in its core markets.
- Experienced management team with a track record of strategic execution.
Weaknesses
- Smaller scale compared to larger national banks and financial institutions.
- Reliance on interest rate cycles for profitability in its banking segment.
- Geographic concentration risk in its community banking operations.
- Potential for integration challenges with past and future acquisitions.
Opportunities
- Continued growth in the HSA market driven by consumer demand and legislative trends.
- Expansion of retirement services to a broader national client base.
- Cross-selling opportunities between banking, retirement, and wealth management clients.
- Leveraging technology to enhance client experience and operational efficiency.
- Potential for strategic acquisitions to expand market reach and service offerings.
Threats
- Intense competition across all business segments from larger and more specialized players.
- Changes in interest rates impacting net interest margins in banking.
- Evolving regulatory landscape for financial institutions.
- Economic downturns affecting loan demand and investment values.
- Cybersecurity risks and data breaches.
Competitors and Market Share
Key Competitors
- U.S. Bancorp (USB)
- PNC Financial Services Group (PNC)
- Associated Banc-Corp (ASB)
- First Bancorp (FBNC)
- Heartland Financial USA, Inc. (HTLF)
Competitive Landscape
Alerus Financial operates in a highly competitive landscape. While it holds a smaller market share overall compared to large national banks, it has carved out significant positions in niche segments like HSA administration. Its advantages lie in its agility, customer-centric approach in community banking, and specialized expertise in retirement and benefits. However, it faces challenges from larger institutions with greater scale, more extensive branch networks, and broader product offerings.
Major Acquisitions
Red River Bank
- Year: 2022
- Acquisition Price (USD millions): 155
- Strategic Rationale: To expand Alerus's community banking presence in North Dakota and Minnesota, enhancing its deposit base and loan portfolio.
C.M. Capital Corporation
- Year: 2021
- Acquisition Price (USD millions): 18.5
- Strategic Rationale: To bolster Alerus's wealth management capabilities and expand its client base.
Growth Trajectory and Initiatives
Historical Growth: Alerus has experienced significant historical growth, driven by organic expansion within its retirement and benefits services segment, strategic acquisitions, and consistent performance in its community banking operations. The focus on fee-based income has provided a more stable and predictable revenue stream.
Future Projections: Analyst projections for Alerus Financial indicate continued growth in revenue and earnings, largely fueled by the expansion of its retirement and benefits services and potential for further M&A activity. The company is expected to benefit from favorable demographic trends and increasing demand for its specialized offerings.
Recent Initiatives: Recent initiatives include ongoing integration of acquired entities, technology investments to enhance service delivery, and efforts to expand its national footprint in retirement and benefits services. The company is also focused on optimizing its community banking operations and cross-selling opportunities.
Summary
Alerus Financial Corp is a well-diversified financial services company showing strong growth, particularly in its retirement and benefits services segment. Its integrated approach, combining community banking with specialized financial solutions, positions it favorably. However, it faces intense competition and must navigate interest rate fluctuations and regulatory changes. Continued strategic execution, particularly in its fee-based segments and potential M&A, will be crucial for sustained success.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Alerus Financial Corp Investor Relations
- SEC Filings (10-K, 10-Q)
- Financial News Outlets (e.g., Bloomberg, Wall Street Journal)
- Industry Research Reports
Disclaimers:
This JSON output is generated for informational purposes only and does not constitute financial advice. Data accuracy is subject to availability and may be updated. Users should conduct their own due diligence before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Alerus Financial Corp
Exchange NASDAQ | Headquaters Grand Forks, ND, United States | ||
IPO Launch date 2001-01-02 | President, CEO & Director Ms. Katie A. Lorenson CPA | ||
Sector Financial Services | Industry Banks - Regional | Full time employees 846 | Website https://www.alerus.com |
Full time employees 846 | Website https://www.alerus.com | ||
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 through 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, 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.
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