Basswood Capital Management L.L.C. Invests $1.87 Million in Alerus Financial $ALRS

Basswood Capital Management L.L.C. acquired a new stake in shares of Alerus Financial (NASDAQ:ALRS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 60,240 shares of the company’s stock, valued at approximately $1,873,000. Basswood Capital Management L.L.C. owned 0.24% of Alerus Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ALRS. CANADA LIFE ASSURANCE Co increased its stake in Alerus Financial by 25.7% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,222 shares of the company’s stock worth $50,000 after acquiring an additional 455 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Alerus Financial by 50.0% during the 4th quarter. Larson Financial Group LLC now owns 1,500 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Alerus Financial by 0.6% during the 1st quarter. First Trust Advisors LP now owns 81,208 shares of the company’s stock valued at $1,925,000 after acquiring an additional 503 shares during the last quarter. Gator Capital Management LLC boosted its position in shares of Alerus Financial by 0.8% during the 4th quarter. Gator Capital Management LLC now owns 65,410 shares of the company’s stock valued at $1,473,000 after acquiring an additional 505 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Alerus Financial by 4.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,420 shares of the company’s stock worth $248,000 after purchasing an additional 546 shares in the last quarter. 51.25% of the stock is currently owned by hedge funds and other institutional investors.

Alerus Financial Stock Performance

Shares of NASDAQ ALRS opened at $33.23 on Thursday. The stock has a market cap of $827.43 million, a price-to-earnings ratio of 31.35 and a beta of 0.68. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. Alerus Financial has a 1-year low of $20.31 and a 1-year high of $34.40. The stock’s 50-day moving average is $32.19 and its 200 day moving average is $28.12.

Alerus Financial (NASDAQ:ALRS) last released its earnings results on Wednesday, July 29th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. Alerus Financial had a return on equity of 14.41% and a net margin of 6.87%.The company had revenue of $80.00 million during the quarter, compared to the consensus estimate of $76.99 million. On average, sell-side analysts anticipate that Alerus Financial will post 3.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ALRS has been the topic of several research analyst reports. Piper Sandler upped their price objective on shares of Alerus Financial from $32.00 to $37.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Zacks Research lowered shares of Alerus Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 20th. Weiss Ratings cut shares of Alerus Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Wall Street Zen lowered shares of Alerus Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, DA Davidson set a $36.00 price objective on shares of Alerus Financial in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $35.50.

Alerus Financial 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.