GRAND FORKS, N.D. (AP) — GRAND FORKS, N.D. (AP) — Alerus Financial Corporation (ALRS) on Tuesday reported third-quarter net income of $5.2 million.
The Grand Forks, North Dakota-based company said it had profit of 26 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.
The company posted revenue of $80.6 million in the period. Its adjusted revenue was $50.9 million.
Alerus shares have climbed roughly 6% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $23.68, an increase of 37% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALRS at https://www.zacks.com/ap/ALRS
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
