Nuveen LLC Takes Position in Alerus Financial $ALRS

Key Points

• Nuveen LLC acquired 172,541 shares of Alerus Financial, valued at approximately $3,185,000, representing about 0.68% of the company.
• Alerus Financial's shares currently have a market cap of $565.82 million and a price-to-earnings ratio of 13.18, with a year low of $15.78 and a year high of $24.41.
• Analysts have varying ratings for Alerus Financial, with a consensus price target of $25.63 and one analyst rating it as a Buy.

Nuveen LLC purchased a new stake in Alerus Financial (NASDAQ:ALRS - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 172,541 shares of the company's stock, valued at approximately $3,185,000. Nuveen LLC owned 0.68% of Alerus Financial at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc lifted its position in shares of Alerus Financial by 32.7% in the fourth quarter. Legal & General Group Plc now owns 2,025 shares of the company's stock worth $39,000 after purchasing an additional 499 shares in the last quarter. CWM LLC lifted its position in shares of Alerus Financial by 1.0% in the first quarter. CWM LLC now owns 59,755 shares of the company's stock worth $1,103,000 after purchasing an additional 584 shares in the last quarter. Invesco Ltd. increased its position in shares of Alerus Financial by 2.2% in the fourth quarter. Invesco Ltd. now owns 33,215 shares of the company's stock valued at $639,000 after acquiring an additional 717 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Alerus Financial by 457.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,277 shares of the company's stock valued at $25,000 after acquiring an additional 1,048 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Alerus Financial by 0.5% in the fourth quarter. Ameriprise Financial Inc. now owns 367,173 shares of the company's stock valued at $7,064,000 after acquiring an additional 1,958 shares during the last quarter. Institutional investors and hedge funds own 51.25% of the company's stock.

Alerus Financial Price Performance

Shares of ALRS stock traded up $0.18 during trading on Tuesday, hitting $22.45. The company had a trading volume of 21,856 shares, compared to its average volume of 77,087. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.88. The firm has a market capitalization of $570.23 million, a P/E ratio of 13.32 and a beta of 0.71. The stock's 50-day moving average price is $21.93 and its 200 day moving average price is $20.44. Alerus Financial has a one year low of $15.78 and a one year high of $24.41.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last released its earnings results on Monday, July 28th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.16. Alerus Financial had a return on equity of 10.21% and a net margin of 11.06%.The firm had revenue of $74.80 million during the quarter, compared to analysts' expectations of $69.96 million. Equities analysts expect that Alerus Financial will post 2.14 EPS for the current fiscal year.

Alerus Financial Announces Dividend

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

Analysts Set New Price Targets

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