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Alerus Financial Corporation (ALRS)
NASDAQ:ALRS
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Earnings Data
Report Date
Jan 22, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.28Last Year’s EPS
$0.38Same Quarter Last Year
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 29, 2024
|% Change Since: -15.58%
|Next Earnings Date:Jan 22, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted strategic achievements such as the successful acquisition of Home Federal and strong growth in deposits and loans. However, it also acknowledged challenges like decreased net income, an increase in nonaccrual loans, and higher noninterest expenses. While there are positive developments, particularly in the retirement and wealth management divisions, there are significant areas that require improvement.Company Guidance
During the Alerus Financial Corporation's Q3 2024 earnings call, CEO Katie Lorenson outlined the company's strategic focus on long-term initiatives despite the challenging quarter. Key metrics highlighted included a 7% year-to-date deposit growth and nearly 45% of loan originations targeting C&I clients, a significant increase from 17% pre-transformation. The company also reported a robust loan growth, mainly from market share gains, and maintained a loan-to-deposit ratio of 91.2%. In terms of credit quality, charge-offs to average loans remained low at 4 basis points. The net interest margin (NIM) faced pressure, closing at 2.41%, with expectations to reach 3% over time. The company also closed its largest acquisition with Home Federal, which added $868 million in loans and $952 million in deposits. Overall, Alerus remains focused on driving shareholder value through diversified revenue and strategic growth initiatives.Successful Acquisition of Home Federal
Completed the acquisition of Home Federal with regulatory approval within the expected timeframe, marking the 26th acquisition in 20 years.
Strong Deposit and Loan Growth
Year-to-date deposit growth over 7% and loan growth robust with market share gains from long-established companies.
Record Quarter in Retirement Business
Retirement business experienced a record quarter of new revenue with continued positive growth trends in plans and participants.
Wealth Management Division Growth
Wealth management division consistently grows top-line revenue and is deeply embedded in business lines, with technology upgrades underway to improve efficiency.
Improvement in Capital Position
Book value grew by 4.6% and tangible common equity ratio improved to 8.11%.
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ALRS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ALRS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | $23.68 | $20.40 | -13.85% |
| Jul 24, 2024 | $21.73 | $21.79 | +0.28% |
| Apr 24, 2024 | $20.58 | $20.13 | -2.19% |
| Jan 24, 2024 | $21.12 | $22.36 | +5.87% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Alerus Financial Corporation (ALRS) report earnings?
Alerus Financial Corporation (ALRS) is schdueled to report earning on Jan 22, 2025, TBA Not Confirmed.
What is Alerus Financial Corporation (ALRS) earnings time?
Alerus Financial Corporation (ALRS) earnings time is at Jan 22, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ALRS EPS forecast?
ALRS EPS forecast for the fiscal quarter 2024 (Q4) is $0.28.
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