Alerus Financial, HMN Financial merger receives all approvals to proceed
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 26 2024
0mins
Acquisition Details: Alerus Financial has received regulatory approvals to acquire HMN Financial and its subsidiary, Home Federal Savings Bank, with the merger expected to close in early Q4 2024 after stockholder approval.
Impact on Assets and Branches: Post-acquisition, Alerus will manage approximately $5.5 billion in total assets and expand its branch network to 29 locations across the Midwest and Arizona.
Analyst Views on ALRS
Wall Street analysts forecast ALRS stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for ALRS is 24.00 USD with a low forecast of 24.00 USD and a high forecast of 24.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
0 Buy
2 Hold
0 Sell
Hold
Current: 24.150
Low
24.00
Averages
24.00
High
24.00
Current: 24.150
Low
24.00
Averages
24.00
High
24.00
About ALRS
Alerus Financial Corporation is a diversified financial services company. Through the Company’s subsidiary, Alerus Financial, National Association (the Bank), the Company provides financial solutions to businesses and consumers through three distinct business segments: banking, retirement and benefit services, and wealth. Its commercial lending products include commercial loans, business term loans and lines of credit for small and midsize businesses. Its consumer lending products include residential first mortgage loans. It offers deposit products and services, including demand deposits, interest-bearing transaction accounts, money market accounts, time and savings deposits, and certificates of deposit. It also offers a range of treasury management products, including electronic receivables management, remote deposit capture, cash vault services, merchant services, and other cash management services. Its wealth division provides fiduciary services to consumer and commercial clients.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
