Los Angeles Capital Management LLC Sells 7,200 Shares of Alerus Financial Co. (NASDAQ:ALRS)

Los Angeles Capital Management LLC lessened its stake in shares of Alerus Financial Co. (NASDAQ:ALRS) by 10.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,764 shares of the company’s stock after selling 7,200 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.32% of Alerus Financial worth $1,436,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Empowered Funds LLC grew its position in shares of Alerus Financial by 44.0% in the 1st quarter. Empowered Funds LLC now owns 41,599 shares of the company’s stock worth $908,000 after buying an additional 12,719 shares during the last quarter. Vanguard Group Inc. grew its holdings in Alerus Financial by 1.5% in the first quarter. Vanguard Group Inc. now owns 911,806 shares of the company’s stock worth $19,905,000 after purchasing an additional 13,637 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Alerus Financial by 4,147.8% during the first quarter. Acadian Asset Management LLC now owns 26,294 shares of the company’s stock worth $573,000 after purchasing an additional 25,675 shares in the last quarter. Cetera Advisors LLC purchased a new stake in shares of Alerus Financial during the 1st quarter valued at $638,000. Finally, CWM LLC boosted its position in shares of Alerus Financial by 85,625.0% in the 2nd quarter. CWM LLC now owns 58,293 shares of the company’s stock worth $1,143,000 after purchasing an additional 58,225 shares in the last quarter. 51.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ALRS shares. Piper Sandler decreased their price target on Alerus Financial from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Keefe, Bruyette & Woods lifted their target price on shares of Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. 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 note on Tuesday, September 17th. Finally, DA Davidson lifted their price objective on shares of Alerus Financial from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $23.20.

Alerus Financial Stock Performance

Shares of NASDAQ ALRS opened at $22.15 on Friday. The company has a 50 day simple moving average of $22.37 and a two-hundred day simple moving average of $21.01. The stock has a market cap of $561.24 million, a price-to-earnings ratio of 138.44 and a beta of 0.68. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. Alerus Financial Co. has a 12 month low of $18.05 and a 12 month high of $25.85.

Alerus Financial (NASDAQ:ALRS) last posted its earnings results on Tuesday, October 29th. The company reported $0.26 earnings per share (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 analyst estimates of $52.30 million. Alerus Financial had a net margin of 1.01% and a return on equity of 6.02%. During the same quarter in the prior year, the firm earned $0.45 earnings per share. As a group, analysts predict that Alerus Financial Co. will post 0.97 earnings per share for the current year.

Alerus Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 13th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.61%. The ex-dividend date was Friday, September 13th. Alerus Financial’s dividend payout ratio is currently 500.00%.

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.