Alerus Financial $ALRS Shares Bought by GSA Capital Partners LLP

GSA Capital Partners LLP raised its position in shares of Alerus Financial (NASDAQ:ALRS) by 97.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,082 shares of the company’s stock after buying an additional 21,807 shares during the period. GSA Capital Partners LLP’s holdings in Alerus Financial were worth $976,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CSM Advisors LLC acquired a new position in Alerus Financial during the 2nd quarter worth about $4,123,000. AQR Capital Management LLC lifted its position in shares of Alerus Financial by 265.7% during the second quarter. AQR Capital Management LLC now owns 236,720 shares of the company’s stock worth $5,123,000 after purchasing an additional 171,984 shares in the last quarter. Gabelli Funds LLC purchased a new position in shares of Alerus Financial in the second quarter valued at approximately $2,982,000. Gamco Investors INC. ET AL acquired a new position in shares of Alerus Financial in the second quarter valued at approximately $2,341,000. Finally, Marshall Wace LLP increased its stake in Alerus Financial by 302.2% during the 2nd quarter. Marshall Wace LLP now owns 72,425 shares of the company’s stock worth $1,567,000 after buying an additional 54,418 shares during the period. Hedge funds and other institutional investors own 51.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ALRS. DA Davidson increased their price objective on Alerus Financial from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Raymond James Financial set a $29.00 price objective on Alerus Financial and gave the company a “strong-buy” rating in a research note on Friday, January 30th. Weiss Ratings upgraded shares of Alerus Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 26th. Wall Street Zen raised shares of Alerus Financial from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Finally, Piper Sandler lowered their price target on shares of Alerus Financial from $25.50 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, November 4th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $26.00.

Alerus Financial Stock Performance

Shares of Alerus Financial stock opened at $25.19 on Friday. The firm has a market capitalization of $639.83 million, a P/E ratio of 38.17 and a beta of 0.64. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. Alerus Financial has a 52 week low of $15.78 and a 52 week high of $26.32. The firm’s 50 day moving average is $23.89 and its two-hundred day moving average is $22.56.

Alerus Financial (NASDAQ:ALRS) last posted its earnings results on Wednesday, January 28th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.28. Alerus Financial had a net margin of 4.36% and a return on equity of 13.38%. The firm had revenue of $77.07 million for the quarter, compared to the consensus estimate of $71.43 million. Research analysts forecast that Alerus Financial will post 2.14 EPS for the current fiscal year.

Alerus Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 26th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, December 26th. Alerus Financial’s payout ratio is presently 127.27%.

Alerus Financial Company Profile

Alerus Financial Corporation (NASDAQ: ALRS) is a diversified financial services company headquartered in Grand Forks, North Dakota. The firm provides a full range of commercial and consumer banking products, including deposit accounts, lending solutions and treasury management services for individuals, small businesses and larger corporate clients. Through its community banking network, Alerus emphasizes local decision-making and personalized service to meet the needs of its varied client base.

In addition to traditional banking offerings, Alerus operates a national mortgage origination and servicing platform that delivers home purchase and refinance loans.