Cwm LLC Boosts Stock Holdings in Alerus Financial Co. (NASDAQ:ALRS)

CWM LLC lifted its stake in shares of Alerus Financial Co. (NASDAQ:ALRS - Free Report) by 85,625.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,293 shares of the company's stock after acquiring an additional 58,225 shares during the period. CWM LLC owned approximately 0.29% of Alerus Financial worth $1,143,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ICA Group Wealth Management LLC bought a new stake in Alerus Financial in the 4th quarter valued at approximately $81,000. SG Americas Securities LLC lifted its position in shares of Alerus Financial by 25.3% in the fourth quarter. SG Americas Securities LLC now owns 9,784 shares of the company's stock worth $219,000 after purchasing an additional 1,974 shares in the last quarter. Harbor Advisors LLC acquired a new position in Alerus Financial during the fourth quarter worth $221,000. Acadian Asset Management LLC grew its position in Alerus Financial by 4,147.8% in the first quarter. Acadian Asset Management LLC now owns 26,294 shares of the company's stock valued at $573,000 after purchasing an additional 25,675 shares in the last quarter. Finally, Cetera Advisors LLC acquired a new stake in Alerus Financial in the 1st quarter valued at $638,000. 51.25% of the stock is currently owned by institutional investors and hedge funds.

Alerus Financial Stock Performance

Shares of NASDAQ ALRS traded up $0.12 during mid-day trading on Friday, reaching $20.96. 53,195 shares of the company were exchanged, compared to its average volume of 53,223. The stock has a market capitalization of $414.53 million, a P/E ratio of 42.78 and a beta of 0.66. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.16. The company's 50-day simple moving average is $19.98 and its 200-day simple moving average is $20.75. Alerus Financial Co. has a twelve month low of $16.80 and a twelve month high of $25.85.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.06). Alerus Financial had a return on equity of 7.30% and a net margin of 2.39%. The company had revenue of $80.39 million for the quarter, compared to analyst estimates of $49.20 million. During the same quarter last year, the business earned $0.45 earnings per share. As a group, research analysts predict that Alerus Financial Co. will post 1.2 earnings per share for the current year.

Alerus Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 14th were paid a $0.20 dividend. The ex-dividend date was Friday, June 14th. This is an increase from Alerus Financial's previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 3.82%. Alerus Financial's payout ratio is 163.27%.

Analyst Upgrades and Downgrades

ALRS has been the subject of several analyst reports. Piper Sandler raised their price objective on Alerus Financial from $22.50 to $24.00 and gave the company a "neutral" rating in a report on Monday, July 29th. Hovde Group upgraded Alerus Financial from a "market perform" rating to an "outperform" rating and raised their price target for the company from $21.00 to $23.00 in a research note on Thursday, May 16th. DA Davidson upped their price objective on Alerus Financial from $20.00 to $23.00 and gave the stock a "neutral" rating in a research note on Thursday, August 1st. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Alerus Financial from $22.00 to $23.00 and gave the company a "market perform" rating in a research report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $23.25.

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.