Alerus Financial $ALRS Shares Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP increased its stake in Alerus Financial (NASDAQ:ALRS) by 97.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,082 shares of the company’s stock after acquiring an additional 21,807 shares during the quarter. GSA Capital Partners LLP owned approximately 0.17% of Alerus Financial worth $976,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Alerus Financial by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,269,253 shares of the company’s stock worth $28,101,000 after purchasing an additional 16,779 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Alerus Financial by 83.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 73,019 shares of the company’s stock worth $1,617,000 after buying an additional 33,205 shares in the last quarter. Rhumbline Advisers increased its stake in Alerus Financial by 2.3% during the 3rd quarter. Rhumbline Advisers now owns 33,012 shares of the company’s stock worth $731,000 after buying an additional 749 shares in the last quarter. AlphaQuest LLC acquired a new position in shares of Alerus Financial during the third quarter valued at approximately $59,000. Finally, New York State Common Retirement Fund lifted its position in shares of Alerus Financial by 349.2% in the third quarter. New York State Common Retirement Fund now owns 28,981 shares of the company’s stock valued at $642,000 after acquiring an additional 22,530 shares in the last quarter. 51.25% of the stock is owned by hedge funds and other institutional investors.

Alerus Financial Trading Up 0.7%

Shares of Alerus Financial stock opened at $25.19 on Friday. The stock has a 50 day moving average of $23.89 and a 200 day moving average of $22.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $639.83 million, a price-to-earnings ratio of 38.17 and a beta of 0.64. Alerus Financial has a fifty-two week low of $15.78 and a fifty-two week high of $26.32.

Alerus Financial (NASDAQ:ALRS) last announced its quarterly earnings results on Wednesday, January 28th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.57 by $0.28. The business had revenue of $77.07 million for the quarter, compared to analyst estimates of $71.43 million. Alerus Financial had a return on equity of 13.38% and a net margin of 4.36%. As a group, research analysts predict that Alerus Financial will post 2.14 earnings per share for the current year.

Alerus Financial Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ALRS shares. Piper Sandler lowered their price target on Alerus Financial from $25.50 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 4th. Weiss Ratings upgraded Alerus Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 26th. DA Davidson lifted their target price on shares of Alerus Financial from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Raymond James Financial set a $29.00 price target on shares of Alerus Financial and gave the stock a “strong-buy” rating in a research note on Friday, January 30th. Finally, Hovde Group downgraded shares of Alerus Financial from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 7th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.00.

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.