Wellington Management Group LLP Invests $6.04 Million in Alerus Financial $ALRS

Key Points

• Wellington Management Group LLP has acquired a new position in Alerus Financial, purchasing approximately 327,179 shares valued at $6.04 million, representing about 1.29% ownership in the company.
• Alerus Financial reported earnings per share (EPS) of $0.72 for the last quarter, surpassing analysts' estimates of $0.56, and had a total revenue of $74.80 million compared to the expected $69.96 million.
• Several analysts have updated their price targets for Alerus Financial, with Raymond James raising its target from $24.00 to $27.00 and Piper Sandler increasing its target from $24.00 to $25.50.

Wellington Management Group LLP acquired a new position in Alerus Financial (NASDAQ:ALRS - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 327,179 shares of the company's stock, valued at approximately $6,040,000. Wellington Management Group LLP owned approximately 1.29% of Alerus Financial at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ALRS. Tower Research Capital LLC TRC lifted its position in Alerus Financial by 457.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,277 shares of the company's stock worth $25,000 after acquiring an additional 1,048 shares during the period. Legal & General Group Plc lifted its position in Alerus Financial by 32.7% during the 4th quarter. Legal & General Group Plc now owns 2,025 shares of the company's stock worth $39,000 after acquiring an additional 499 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of Alerus Financial in the 4th quarter valued at about $56,000. Aquatic Capital Management LLC acquired a new position in shares of Alerus Financial in the 4th quarter valued at about $159,000. Finally, Cetera Investment Advisers acquired a new position in shares of Alerus Financial in the 4th quarter valued at about $211,000. Institutional investors and hedge funds own 51.25% of the company's stock.

Alerus Financial Price Performance

Shares of Alerus Financial stock traded down $0.01 on Friday, hitting $22.27. The company's stock had a trading volume of 49,773 shares, compared to its average volume of 86,680. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.88. Alerus Financial has a 1 year low of $15.78 and a 1 year high of $24.41. The firm has a fifty day moving average price of $21.92 and a 200-day moving average price of $20.44. The company has a market capitalization of $565.66 million, a price-to-earnings ratio of 11.25 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 EPS 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 company had revenue of $74.80 million during the quarter, compared to analyst estimates of $69.96 million. As a group, sell-side analysts anticipate that Alerus Financial will post 2.14 earnings per share for the current fiscal year.

Alerus Financial Announces Dividend

The company also recently disclosed 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. This represents a $0.84 annualized dividend and a yield of 3.8%. The ex-dividend date is Friday, September 26th. Alerus Financial's payout ratio is 49.70%.

Analysts Set New Price Targets

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

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.