Alerus Financial $ALRS Position Decreased by Rhino Investment Partners Inc

Key Points

• Rhino Investment Partners Inc has reduced its stake in Alerus Financial by 19.9%, selling 60,501 shares and now holds approximately 243,495 shares, making it the firm's 29th biggest position.
• Alerus Financial posted earnings of $0.72 EPS, exceeding analyst expectations of $0.56, with revenue hitting $74.80 million versus the forecast of $69.96 million.
• Analysts have raised their price targets for Alerus Financial, with Keefe, Bruyette & Woods and DA Davidson increasing their target prices to $25.00, while Raymond James has set a target of $27.00.

Rhino Investment Partners Inc cut its stake in Alerus Financial (NASDAQ:ALRS - Free Report) by 19.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 243,495 shares of the company's stock after selling 60,501 shares during the period. Alerus Financial accounts for 1.1% of Rhino Investment Partners Inc's portfolio, making the stock its 29th largest position. Rhino Investment Partners Inc owned approximately 0.96% of Alerus Financial worth $4,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the stock. Hsbc Holdings PLC raised its holdings in 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 acquiring an additional 2,730 shares in the last quarter. Wellington Management Group LLP acquired a new stake in Alerus Financial in the first quarter valued at $6,040,000. Nuveen LLC acquired a new stake in Alerus Financial in the first quarter valued at $3,185,000. Invesco Ltd. raised its holdings in Alerus Financial by 9.7% in the first quarter. Invesco Ltd. now owns 36,447 shares of the company's stock valued at $673,000 after acquiring an additional 3,232 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Alerus Financial by 13.2% in the first quarter. Vanguard Group Inc. now owns 1,194,264 shares of the company's stock valued at $22,046,000 after acquiring an additional 139,435 shares in the last quarter. 51.25% of the stock is owned by institutional investors and hedge funds.

Alerus Financial Price Performance

Shares of NASDAQ:ALRS traded up $0.17 during trading hours on Tuesday, hitting $22.40. 12,179 shares of the company's stock traded hands, compared to its average volume of 77,611. Alerus Financial has a 52 week low of $15.78 and a 52 week high of $24.41. 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 company's fifty day simple moving average is $21.81 and its two-hundred day simple moving average is $20.41. The company has a market cap of $568.87 million, a price-to-earnings ratio of 13.25 and a beta of 0.71.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.16. Alerus Financial had a net margin of 11.06% and a return on equity of 10.21%. The company had revenue of $74.80 million during the quarter, compared to analyst estimates of $69.96 million. As a group, equities analysts anticipate that Alerus Financial will post 2.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ALRS shares. DA Davidson upped their price target on shares of Alerus Financial from $20.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Raymond James Financial reissued an "outperform" rating and set a $27.00 target price (up from $24.00) on shares of Alerus Financial in a report on Tuesday, July 29th. Wall Street Zen cut shares of Alerus Financial from a "buy" rating to a "hold" rating in a report on Sunday, August 17th. Piper Sandler increased their target price on shares of Alerus Financial from $24.00 to $25.50 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Finally, Keefe, Bruyette & Woods increased their target price 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 equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus 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.