Cubist Systematic Strategies LLC Has $679,000 Position in Alerus Financial $ALRS

Key Points

• Cubist Systematic Strategies LLC increased its holdings in Alerus Financial by 60.8% during the first quarter, owning approximately 0.15% of the company, valued at $679,000.
• Alerus Financial reported a quarterly earnings per share of $0.72, exceeding analysts' estimates, with revenues reaching $74.80 million.
• The company declared a quarterly dividend of $0.21 per share with a yield of 3.7%, slated for payment on October 10th.

Cubist Systematic Strategies LLC boosted its holdings in Alerus Financial (NASDAQ:ALRS - Free Report) by 60.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,791 shares of the company's stock after buying an additional 13,907 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.15% of Alerus Financial worth $679,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. CWM LLC increased its position in Alerus Financial by 1.0% in the 1st quarter. CWM LLC now owns 59,755 shares of the company's stock worth $1,103,000 after buying an additional 584 shares during the period. Tower Research Capital LLC TRC increased its position in Alerus Financial by 457.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,277 shares of the company's stock worth $25,000 after buying an additional 1,048 shares during the period. Ameriprise Financial Inc. increased its position in Alerus Financial by 0.5% in the 4th quarter. Ameriprise Financial Inc. now owns 367,173 shares of the company's stock worth $7,064,000 after buying an additional 1,958 shares during the period. State of Wyoming bought a new position in Alerus Financial in the 1st quarter worth approximately $49,000. Finally, Hsbc Holdings PLC increased its position in Alerus Financial by 9.0% in the 1st quarter. Hsbc Holdings PLC now owns 32,990 shares of the company's stock worth $607,000 after buying an additional 2,730 shares during the period. 51.25% of the stock is owned by institutional investors.

Alerus Financial Price Performance

ALRS stock traded down $0.16 during trading on Monday, hitting $22.55. The company had a trading volume of 46,508 shares, compared to its average volume of 60,498. The company has a fifty day moving average price of $22.01 and a two-hundred day moving average price of $20.56. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11. The company has a market cap of $572.77 million, a P/E ratio of 13.34 and a beta of 0.71. Alerus Financial has a fifty-two week low of $15.78 and a fifty-two week high of $24.41.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.56 by $0.16. The business had revenue of $74.80 million for the quarter, compared to analyst estimates of $69.96 million. Alerus Financial had a return on equity of 10.21% and a net margin of 11.06%. Equities research analysts expect that Alerus Financial will post 2.14 earnings per share 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. Shareholders of record on Friday, September 26th will be given a $0.21 dividend. The ex-dividend date is Friday, September 26th. This represents a $0.84 annualized dividend and a yield of 3.7%. Alerus Financial's payout ratio is presently 49.70%.

Analyst Upgrades and Downgrades

Several research analysts have commented on ALRS shares. Raymond James Financial reaffirmed an "outperform" rating and issued a $27.00 price target (up from $24.00) on shares of Alerus Financial in a research report on Tuesday, July 29th. Wall Street Zen downgraded Alerus Financial from a "buy" rating to a "hold" rating in a research report on Sunday, August 17th. DA Davidson lifted their price objective on Alerus Financial from $20.00 to $25.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Keefe, Bruyette & Woods lifted their price objective on Alerus Financial from $22.00 to $25.00 and gave the stock a "market perform" rating in a report on Tuesday, July 29th. Finally, Piper Sandler lifted their price objective on Alerus Financial from $24.00 to $25.50 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Alerus Financial presently has an average rating of "Hold" and a consensus price target of $25.63.

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.