Johnson Wealth Management LLC Makes New Investment in Alerus Financial $ALRS

Johnson Wealth Management LLC purchased a new position in Alerus Financial (NASDAQ:ALRS) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 23,006 shares of the company’s stock, valued at approximately $716,000. Alerus Financial comprises 0.3% of Johnson Wealth Management LLC’s investment portfolio, making the stock its 13th biggest position. Johnson Wealth Management LLC owned 0.09% of Alerus Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC bought a new stake in Alerus Financial in the 1st quarter worth about $1,195,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Alerus Financial by 4.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,420 shares of the company’s stock valued at $248,000 after acquiring an additional 546 shares during the period. Jane Street Group LLC bought a new position in Alerus Financial during the 1st quarter valued at about $441,000. Cetera Investment Advisers boosted its holdings in shares of Alerus Financial by 29.7% during the 2nd quarter. Cetera Investment Advisers now owns 28,720 shares of the company’s stock valued at $622,000 after acquiring an additional 6,575 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Alerus Financial by 3.4% during the 2nd quarter. Rhumbline Advisers now owns 32,263 shares of the company’s stock valued at $698,000 after acquiring an additional 1,072 shares during the last quarter. 51.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Alerus Financial from $32.00 to $37.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Raymond James Financial restated an “outperform” rating and issued a $37.00 target price on shares of Alerus Financial in a report on Monday, August 3rd. Zacks Research raised shares of Alerus Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Wall Street Zen lowered shares of Alerus Financial from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Alerus Financial in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.50.

Alerus Financial Stock Performance

ALRS opened at $33.67 on Monday. The company has a 50 day simple moving average of $31.66 and a two-hundred day simple moving average of $27.66. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.89. The firm has a market cap of $838.38 million, a P/E ratio of 31.76 and a beta of 0.68. Alerus Financial has a 1-year low of $20.31 and a 1-year high of $34.40.

Alerus Financial (NASDAQ:ALRS) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. Alerus Financial had a net margin of 6.87% and a return on equity of 14.41%. The firm had revenue of $80.00 million for the quarter, compared to the consensus estimate of $76.99 million. Equities analysts forecast that Alerus Financial will post 3.03 earnings per share for the current fiscal year.

Alerus Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Friday, June 26th. This is a boost from Alerus Financial’s previous quarterly dividend of $0.21. Alerus Financial’s dividend payout ratio (DPR) is currently 83.02%.

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.