Alerus Financial $ALRS Shares Purchased by Quantinno Capital Management LP

Key Points

• Quantinno Capital Management increased its Alerus Financial stake by 60.4% in the first quarter, reaching 92,252 shares valued at approximately $2.19 million. Institutional investors and hedge funds collectively own 51.25% of the company.
• Alerus Financial exceeded quarterly expectations, reporting $0.80 in EPS versus the $0.77 consensus and $80 million in revenue versus estimates of $76.99 million.
• The company raised its quarterly dividend to $0.22 per share, or $0.88 annually, producing a 2.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $35.50.

Quantinno Capital Management LP raised its holdings in Alerus Financial (NASDAQ:ALRS - Free Report) by 60.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92,252 shares of the company's stock after purchasing an additional 34,754 shares during the quarter. Quantinno Capital Management LP owned 0.37% of Alerus Financial worth $2,187,000 as of its most recent filing with the Securities and Exchange Commission.

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

Alerus Financial Price Performance

ALRS opened at $33.21 on Tuesday. Alerus Financial has a 1 year low of $20.31 and a 1 year high of $34.40. The company's 50 day simple moving average is $31.26 and its 200 day simple moving average is $27.39. The stock has a market capitalization of $826.93 million, a PE ratio of 31.33 and a beta of 0.68. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.90.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. The firm had revenue of $80.00 million during the quarter, compared to analyst estimates of $76.99 million. Alerus Financial had a net margin of 6.87% and a return on equity of 14.41%. As a group, sell-side analysts expect that Alerus Financial will post 3.03 EPS for the current year.

Alerus Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Friday, June 26th. This is a positive change from Alerus Financial's previous quarterly dividend of $0.21. Alerus Financial's payout ratio is currently 83.02%.

Analyst Ratings Changes

A number of research firms have commented on ALRS. Raymond James Financial reissued an "outperform" rating and issued a $37.00 target price on shares of Alerus Financial in a report on Monday, August 3rd. Piper Sandler increased their price target on shares of Alerus Financial from $32.00 to $37.00 and gave the company a "neutral" rating in a report on Friday, July 31st. DA Davidson set a $36.00 price objective on shares of Alerus Financial in a report on Friday, July 31st. Keefe, Bruyette & Woods upped their target price on shares of Alerus Financial from $29.00 to $32.00 and gave the stock a "market perform" rating in a research report on Friday, July 31st. Finally, Zacks Research raised shares of Alerus Financial from a "hold" rating to a "strong-buy" rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $35.50.

About Alerus Financial

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.

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