Alerus Financial climbs after Raymond James upgrades stock to 'strong buy'

Alerus Financial

05/01/2026 14:45

Updates

** Regional lender Alerus Financial's ALRS.O shares rise 4.5% to $23.45 in early trading

** Raymond James upgrades ALRS to "strong buy" from "outperform", citing bond portfolio rejig in late December

** Raises PT to $27 from $25, a 20.3% upside to stock's last close

** Brokerage boosts 2026 and 2027 EPS estimates for ALRS by 8%; says balance sheet clean-up should allow the bank to refocus energy on organic growth

** "We believe the discounted valuation presents an attractive entry point for a bank that now carries an improved growth profile" - Raymond James analyst David Long

** ALRS stock rose 17% in 2025

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))