Walleye Capital LLC Takes $424,000 Position in Alerus Financial Co. (NASDAQ:ALRS)

Walleye Capital LLC purchased a new stake in shares of Alerus Financial Co. (NASDAQ:ALRS) during the third quarter, Holdings Channel reports. The fund purchased 18,516 shares of the company’s stock, valued at approximately $424,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Cetera Advisors LLC acquired a new position in Alerus Financial in the 1st quarter valued at $638,000. Stieven Capital Advisors L.P. acquired a new position in Alerus Financial in the 3rd quarter valued at $5,966,000. Squarepoint Ops LLC grew its stake in Alerus Financial by 191.1% in the 2nd quarter. Squarepoint Ops LLC now owns 46,839 shares of the company’s stock valued at $919,000 after buying an additional 30,750 shares during the last quarter. Bailard Inc. acquired a new position in Alerus Financial in the 2nd quarter valued at $265,000. Finally, Vanguard Group Inc. grew its stake in Alerus Financial by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 911,806 shares of the company’s stock valued at $19,905,000 after buying an additional 13,637 shares during the last quarter. Institutional investors own 51.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ALRS shares. Piper Sandler lowered their target price on shares of Alerus Financial from $24.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Keefe, Bruyette & Woods raised their price target on shares of Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Raymond James upgraded shares of Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price target on the stock in a research report on Tuesday, September 17th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $23.20.

Alerus Financial Stock Performance

NASDAQ ALRS opened at $21.73 on Tuesday. The company’s fifty day moving average is $22.40 and its two-hundred day moving average is $21.26. The firm has a market capitalization of $550.59 million, a price-to-earnings ratio of 135.81 and a beta of 0.69. Alerus Financial Co. has a 52-week low of $18.09 and a 52-week high of $25.85. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.85 and a quick ratio of 0.85.

Alerus Financial (NASDAQ:ALRS) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.18). The business had revenue of $80.58 million for the quarter, compared to the consensus estimate of $52.30 million. Alerus Financial had a return on equity of 6.02% and a net margin of 1.01%. During the same period in the previous year, the business posted $0.45 earnings per share. Equities research analysts forecast that Alerus Financial Co. will post 0.97 EPS for the current year.

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.