GRAND FORKS, N.D. (AP) — GRAND FORKS, N.D. (AP) — Alerus Financial Corporation (ALRS) on Wednesday reported third-quarter earnings of $19.2 million.
The Grand Forks, North Dakota-based company said it had net income of 76 cents per share. Earnings, adjusted for non-recurring gains, were 71 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.
The company posted revenue of $104.5 million in the period. Its adjusted revenue was $81.8 million, also beating Street forecasts. Three analysts surveyed by Zacks expected $76.7 million.
Alerus shares have increased 43% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $32.27, a climb of 51% 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
