Alerus Financial $ALRS Shares Purchased by Cubist Systematic Strategies LLC

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

A number of other hedge funds have also modified their holdings of the business. State of Wyoming acquired a new stake in shares of Alerus Financial in the first quarter valued at about $49,000. M3F Inc. raised its position in shares of Alerus Financial by 4.4% in the first quarter. M3F Inc. now owns 187,447 shares of the company's stock valued at $3,460,000 after buying an additional 7,884 shares during the last quarter. Keeley Teton Advisors LLC raised its position in shares of Alerus Financial by 34.3% in the first quarter. Keeley Teton Advisors LLC now owns 227,455 shares of the company's stock valued at $4,199,000 after buying an additional 58,036 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Alerus Financial by 9.0% in the first quarter. Hsbc Holdings PLC now owns 32,990 shares of the company's stock valued at $607,000 after buying an additional 2,730 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of Alerus Financial in the first quarter valued at about $6,040,000. 51.25% of the stock is currently owned by institutional investors and hedge funds.

Alerus Financial Stock Down 0.4%

ALRS stock traded down $0.10 during midday trading on Friday, reaching $22.71. 60,736 shares of the company were exchanged, compared to its average volume of 68,302. 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 1-year low of $15.78 and a 1-year high of $24.41. The stock's 50-day simple moving average is $22.01 and its 200 day simple moving average is $20.54. The company has a market cap of $576.83 million, a price-to-earnings ratio of 13.44 and a beta of 0.71.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last announced its earnings results on Monday, July 28th. The company reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.16. The business had revenue of $74.80 million for the quarter, compared to analysts' expectations 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 forecast that Alerus Financial will post 2.14 earnings per share for the current year.

Alerus Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, September 26th. Alerus Financial's payout ratio is currently 49.70%.

Analyst Ratings Changes

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