Is ALRS or ASRV more undervalued in 2026?

CirclFi compares Alerus Financial Corporation (ALRS) and AmeriServ Financial Inc. (ASRV) using 13 institutional-grade valuation models. ALRS has a Quality of Company score of 7.0/10 while ASRV scores 6.4/10.

Which is a better buy — ALRS or ASRV?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do ALRS and ASRV valuations compare?

ALRS at $28.90 and ASRV at $3.81 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

ALRS vs ASRV Valuation Comparison 2026 — Intrinsic Value Analysis

ALRS

Banks - Regional

Alerus Financial Corporation

Quality

7.0

out of 10

Value Trap

SAFE

Price

$28.90

Last close

Models

12/13

Active

ASRV

Banks - Regional

AmeriServ Financial Inc.

Quality

6.4

out of 10

Value Trap

SAFE

Price

$3.81

Last close

Models

10/13

Active

Model-by-Model Comparison

Model	Type	ALRS Fair Value	ALRS Upside	ASRV Fair Value	ASRV Upside
Bayesian DCF	Intrinsic	$17.79	-38.4%	$0.46	-88.0%
Earnings Power Value	Intrinsic	$22.77	-21.2%	$1.21	-68.3%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

🔒

Unlock Full 13-Model Comparison

Access all valuation models for ALRS vs ASRV — including EROIC Spread, First Chicago, Markov DDM, PWERM, and 7 more.

Access Full Analysis — From $27/mo →

ALRS vs ASRV — Which Stock Is More Undervalued?

ALRS scores higher with a 7.0/10 quality rating vs ASRV's 6.4/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Alerus Financial Corporation (ALRS) and AmeriServ Financial Inc. (ASRV) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

ALRS currently trades at $28.90 with a QOC of 7.0/10, while ASRV trades at $3.81 with a QOC of 6.4/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).