Ieq Capital LLC Purchases New Shares in Alerus Financial $ALRS

Key Points

• Ieq Capital LLC acquired 39,225 shares of Alerus Financial in the second quarter, worth approximately $1.22 million. Institutional investors collectively own 51.25% of the company.
• Alerus Financial exceeded quarterly expectations, reporting earnings per share of $0.80 versus the $0.77 consensus estimate and revenue of $80 million, ahead of the $76.99 million forecast.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating from seven analysts, with an average price target of $35.50 versus its reported opening price of $33.23.

Ieq Capital LLC acquired a new position in shares of Alerus Financial (NASDAQ:ALRS - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 39,225 shares of the company's stock, valued at approximately $1,220,000. Ieq Capital LLC owned about 0.16% of Alerus Financial as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. bought a new position in shares of Alerus Financial in the second quarter worth about $142,000. BlackRock Inc. bought a new stake in shares of Alerus Financial during the second quarter valued at approximately $56,672,000. Deutsche Bank AG bought a new stake in shares of Alerus Financial during the second quarter valued at approximately $728,000. Johnson Wealth Management LLC acquired a new stake in shares of Alerus Financial in the second quarter valued at approximately $716,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Alerus Financial in the second quarter valued at approximately $3,869,000. Institutional investors and hedge funds own 51.25% of the company's stock.

Alerus Financial Price Performance

ALRS opened at $33.23 on Thursday. The company has a fifty day moving average price of $32.19 and a two-hundred day moving average price of $28.12. The firm has a market capitalization of $827.43 million, a PE ratio of 31.35 and a beta of 0.68. Alerus Financial has a 52 week low of $20.31 and a 52 week high of $34.40. 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 posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. Alerus Financial had a return on equity of 14.41% and a net margin of 6.87%.The company had revenue of $80.00 million for the quarter, compared to the consensus estimate of $76.99 million. As a group, analysts anticipate that Alerus Financial will post 3.03 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods upped their price objective on Alerus Financial from $29.00 to $32.00 and gave the stock a "market perform" rating in a report on Friday, July 31st. Wall Street Zen downgraded Alerus Financial from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Zacks Research lowered Alerus Financial from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 20th. DA Davidson set a $36.00 price target on Alerus Financial in a report on Friday, July 31st. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $37.00 price objective on shares of Alerus Financial in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" 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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