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 grew its stake in Alerus Financial (NASDAQ:ALRS - Free Report) by 41.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,233 shares of the company's stock after acquiring an additional 21,331 shares during the period. 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 hedge funds have also recently modified their holdings of ALRS. Northern Trust Corp lifted its position in shares of Alerus Financial by 18.1% in the 4th quarter. Northern Trust Corp now owns 201,291 shares of the company's stock worth $3,873,000 after purchasing an additional 30,821 shares during the period. Ameriprise Financial Inc. lifted 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 during the last quarter. BNP Paribas Financial Markets purchased a new stake in Alerus Financial during the fourth quarter valued at approximately $56,000. Bank of America Corp DE lifted its position in Alerus Financial by 48.5% during the fourth quarter. Bank of America Corp DE now owns 30,504 shares of the company's stock valued at $587,000 after acquiring an additional 9,961 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new stake in Alerus Financial during the fourth quarter valued at approximately $211,000. Hedge funds and other institutional investors own 51.25% of the company's stock.

Analyst Ratings Changes

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

Alerus Financial Stock Performance

Shares of NASDAQ:ALRS traded up $0.67 during midday trading on Thursday, reaching $23.42. The company's stock had a trading volume of 97,233 shares, compared to its average volume of 62,531. The firm has a market capitalization of $594.87 million, a PE ratio of 13.86 and a beta of 0.71. Alerus Financial has a twelve month low of $15.78 and a twelve month high of $24.41. The stock has a fifty day moving average of $22.03 and a 200 day moving average of $20.61. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.11.

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

Alerus Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be paid a $0.21 dividend. The ex-dividend date is Friday, September 26th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.6%. Alerus Financial's dividend payout ratio is presently 49.70%.

About Alerus Financial

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.