Wealth Forward LLC Lowers Position in Alerus Financial Co. (NASDAQ:ALRS)

Wealth Forward LLC trimmed its stake in shares of Alerus Financial Co. (NASDAQ:ALRS) by 9.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 50,279 shares of the company’s stock after selling 5,200 shares during the period. Alerus Financial comprises 0.8% of Wealth Forward LLC’s holdings, making the stock its 15th biggest position. Wealth Forward LLC’s holdings in Alerus Financial were worth $1,150,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Federated Hermes Inc. raised its holdings in shares of Alerus Financial by 380.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,519 shares of the company’s stock worth $30,000 after acquiring an additional 1,203 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Alerus Financial during the third quarter valued at $142,000. Bailard Inc. bought a new position in Alerus Financial during the second quarter valued at $265,000. Inspire Investing LLC purchased a new position in shares of Alerus Financial in the 3rd quarter worth $417,000. Finally, Acadian Asset Management LLC increased its holdings in shares of Alerus Financial by 4,147.8% in the 1st quarter. Acadian Asset Management LLC now owns 26,294 shares of the company’s stock worth $573,000 after buying an additional 25,675 shares during the last quarter. 51.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ALRS shares. Keefe, Bruyette & Woods increased their price target on shares of Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Raymond James upgraded Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 target price for the company in a report on Tuesday, September 17th. Piper Sandler decreased their price target on Alerus Financial from $24.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, DA Davidson lifted their price objective on shares of Alerus Financial from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.20.

Alerus Financial Stock Down 0.8 %

NASDAQ:ALRS opened at $20.23 on Friday. The stock has a fifty day simple moving average of $22.41 and a 200-day simple moving average of $20.90. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. The company has a market cap of $400.11 million, a price-to-earnings ratio of 57.80 and a beta of 0.66. Alerus Financial Co. has a twelve month low of $17.07 and a twelve month high of $25.85.

Alerus Financial (NASDAQ:ALRS) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.18). The company had revenue of $80.58 million during the quarter, compared to analysts’ expectations of $52.30 million. Alerus Financial had a net margin of 2.39% and a return on equity of 7.25%. During the same period last year, the firm earned $0.45 earnings per share. Analysts anticipate that Alerus Financial Co. will post 1.21 EPS for the current year.

Alerus Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 13th were paid a $0.20 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.80 annualized dividend and a yield of 3.95%. Alerus Financial’s dividend payout ratio (DPR) is currently 228.57%.

About Alerus Financial

Alerus Financial Corporation operates as the bank holding company for Alerus Financial, National Association that engages in the provision of various financial services to businesses and consumers. The company operates in four segments: Banking, Mortgage, Retirement and Benefit Services, and Wealth Management.