Alerus Financial $ALRS Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP grew its position in Alerus Financial (NASDAQ:ALRS) by 60.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,252 shares of the company’s stock after purchasing an additional 34,754 shares during the period. Quantinno Capital Management LP’s holdings in Alerus Financial were worth $2,187,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. NewEdge Advisors LLC raised its holdings in Alerus Financial by 90.1% in the second quarter. NewEdge Advisors LLC now owns 1,544 shares of the company’s stock valued at $33,000 after buying an additional 732 shares during the period. Larson Financial Group LLC grew its stake in Alerus Financial by 50.0% during the fourth quarter. Larson Financial Group LLC now owns 1,500 shares of the company’s stock worth $34,000 after buying an additional 500 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in Alerus Financial by 25.7% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,222 shares of the company’s stock worth $50,000 after buying an additional 455 shares during the period. CIBC Private Wealth Group LLC acquired a new stake in shares of Alerus Financial in the third quarter worth $52,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Alerus Financial by 172.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,371 shares of the company’s stock valued at $73,000 after acquiring an additional 2,135 shares during the period. Institutional investors and hedge funds own 51.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. DA Davidson set a $36.00 target price on shares of Alerus Financial in a report on Friday, July 31st. Wall Street Zen downgraded Alerus Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Keefe, Bruyette & Woods raised their price objective on Alerus Financial from $29.00 to $32.00 and gave the company a “market perform” rating in a research report on Friday, July 31st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Alerus Financial in a research report on Monday, August 3rd. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $37.00 target price on shares of Alerus Financial in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.50.

Alerus Financial Stock Performance

Shares of ALRS stock opened at $33.21 on Tuesday. 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 company’s fifty day moving average price is $31.26 and its two-hundred day moving average price is $27.39. The firm has a market capitalization of $826.93 million, a P/E ratio of 31.33 and a beta of 0.68. Alerus Financial has a 12 month low of $20.31 and a 12 month high of $34.40.

Alerus Financial (NASDAQ:ALRS) last announced its earnings results on Wednesday, July 29th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate 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, research analysts anticipate 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. Investors of record on Friday, June 26th were issued a $0.22 dividend. This is an increase from Alerus Financial’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Friday, June 26th. 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.