Keeley Teton Advisors LLC Purchases 58,036 Shares of Alerus Financial $ALRS

Key Points

• Keeley Teton Advisors LLC increased its stake in Alerus Financial by 34.3% during the first quarter, now owning approximately 227,455 shares valued at $4.20 million.
• Various analysts have adjusted their ratings for Alerus Financial, with one cutting it from "buy" to "hold" and several increasing target prices, leading to a consensus rating of "Hold" and a target price of $25.63.
• Alerus Financial reported earnings of $0.72 per share for the last quarter, exceeding analysts' expectations, with revenues of $74.80 million surpassing estimates of $69.96 million.

Keeley Teton Advisors LLC grew its holdings in shares of Alerus Financial (NASDAQ:ALRS - Free Report) by 34.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 227,455 shares of the company's stock after acquiring an additional 58,036 shares during the period. Keeley Teton Advisors LLC owned about 0.90% of Alerus Financial worth $4,199,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ALRS. Dimensional Fund Advisors LP raised its stake in shares of Alerus Financial by 120.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 666,559 shares of the company's stock valued at $12,824,000 after acquiring an additional 363,617 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Alerus Financial during the first quarter valued at $6,040,000. Rhino Investment Partners Inc bought a new position in shares of Alerus Financial during the fourth quarter valued at $5,849,000. FJ Capital Management LLC bought a new position in shares of Alerus Financial during the fourth quarter valued at $5,557,000. Finally, Nuveen LLC bought a new position in shares of Alerus Financial during the first quarter valued at $3,185,000. Institutional investors own 51.25% of the company's stock.

Analysts Set New Price Targets

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

Alerus Financial Stock Down 0.0%

NASDAQ:ALRS traded down $0.01 during trading hours on Friday, reaching $22.27. The company had a trading volume of 49,773 shares, compared to its average volume of 89,147. The firm has a market cap of $565.66 million, a price-to-earnings ratio of 13.18 and a beta of 0.71. The business's 50-day simple moving average is $21.92 and its two-hundred day simple moving average is $20.44. Alerus Financial has a twelve month low of $15.78 and a twelve month high of $24.41. 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 issued its quarterly earnings data on Monday, July 28th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.16. The firm had revenue of $74.80 million during 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 expect that Alerus Financial will post 2.14 earnings per share for the current year.

Alerus Financial Announces Dividend

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 issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Friday, September 26th. Alerus Financial's dividend payout ratio (DPR) is currently 49.70%.

Alerus Financial 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.