Alerus Financial $ALRS Shares Bought by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC increased its stake in Alerus Financial by 41.1%, now owning 73,233 shares valued at approximately $1.35 million.
• Several hedge funds have added to or modified their holdings of Alerus Financial, with over 51% of the company's stock now held by institutional investors.
• Analysts have updated their ratings and target prices for Alerus Financial, with an average target price of $25.63 and a consensus rating of "Hold."

Acadian Asset Management LLC boosted its stake in shares of Alerus Financial (NASDAQ:ALRS - Free Report) by 41.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,233 shares of the company's stock after acquiring an additional 21,331 shares during the quarter. Acadian Asset Management LLC owned 0.29% of Alerus Financial worth $1,351,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in 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 valued at $248,000 after acquiring an additional 546 shares in the last quarter. CWM LLC raised its position in Alerus Financial by 1.0% during the first quarter. CWM LLC now owns 59,755 shares of the company's stock valued at $1,103,000 after acquiring an additional 584 shares in the last quarter. Ameriprise Financial Inc. raised its position in Alerus Financial by 0.5% during the fourth quarter. Ameriprise Financial Inc. now owns 367,173 shares of the company's stock valued at $7,064,000 after acquiring an additional 1,958 shares in the last quarter. State of Wyoming purchased a new position in Alerus Financial during the first quarter valued at approximately $49,000. Finally, Hsbc Holdings PLC raised its position in Alerus Financial by 9.0% during the first quarter. Hsbc Holdings PLC now owns 32,990 shares of the company's stock valued at $607,000 after acquiring an additional 2,730 shares in the last quarter. 51.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ALRS has been the subject of several recent research reports. Raymond James Financial reiterated an "outperform" rating and set a $27.00 price target (up from $24.00) on shares of Alerus Financial in a research report on Tuesday, July 29th. Keefe, Bruyette & Woods boosted their price objective on Alerus Financial from $22.00 to $25.00 and gave the company a "market perform" rating in a research report on Tuesday, July 29th. DA Davidson boosted their price objective on Alerus Financial from $20.00 to $25.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. Piper Sandler boosted their price objective on Alerus Financial from $24.00 to $25.50 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Finally, Wall Street Zen cut Alerus Financial from a "buy" rating to a "hold" rating in a research report on Sunday, August 17th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $25.63.

Alerus Financial Price Performance

Shares of ALRS traded down $0.29 during trading hours on Friday, hitting $23.13. 290,301 shares of the stock were exchanged, compared to its average volume of 70,496. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.88. Alerus Financial has a 12-month low of $15.78 and a 12-month high of $24.41. The company has a market cap of $587.50 million, a price-to-earnings ratio of 13.69 and a beta of 0.71. The stock's 50-day moving average price is $22.04 and its two-hundred day moving average price is $20.65.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.56 by $0.16. Alerus Financial had a return on equity of 10.21% and a net margin of 11.06%.The firm had revenue of $74.80 million during the quarter, compared to analysts' expectations of $69.96 million. Research analysts expect that Alerus Financial will post 2.14 earnings per share for the current year.

Alerus Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, September 26th. Alerus Financial's payout ratio is presently 49.70%.

Alerus Financial Company Profile

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.