Los Angeles Capital Management LLC Cuts Holdings in Alerus Financial Co. (NASDAQ:ALRS)

Los Angeles Capital Management LLC reduced its position in shares of Alerus Financial Co. (NASDAQ:ALRS) by 10.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & 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’s holdings in Alerus Financial were worth $1,436,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Cetera Advisors LLC acquired a new stake in Alerus Financial in the first quarter valued at approximately $638,000. CWM LLC grew its stake in Alerus Financial by 85,625.0% in the 2nd quarter. CWM LLC now owns 58,293 shares of the company’s stock valued at $1,143,000 after acquiring an additional 58,225 shares during the period. Acadian Asset Management LLC increased its holdings in Alerus Financial by 4,147.8% in the 1st quarter. Acadian Asset Management LLC now owns 26,294 shares of the company’s stock worth $573,000 after acquiring an additional 25,675 shares in the last quarter. Squarepoint Ops LLC increased its holdings in Alerus Financial by 191.1% in the 2nd quarter. Squarepoint Ops LLC now owns 46,839 shares of the company’s stock worth $919,000 after acquiring an additional 30,750 shares in the last quarter. Finally, Bailard Inc. acquired a new position in Alerus Financial during the second quarter worth $265,000. 51.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ALRS shares. Raymond James raised shares of Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 target price for the company in a research note on Tuesday, September 17th. DA Davidson increased their target price on Alerus Financial from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Keefe, Bruyette & Woods boosted their price target on Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Finally, Piper Sandler reduced their price objective 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. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $23.20.

Alerus Financial Price Performance

NASDAQ:ALRS opened at $22.15 on Friday. Alerus Financial Co. has a one year low of $18.05 and a one year high of $25.85. The stock has a market cap of $561.24 million, a PE ratio of 138.44 and a beta of 0.68. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a 50 day moving average price of $22.37 and a 200 day moving average price of $21.01.

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

Alerus Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 13th were paid a $0.20 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.61%. Alerus Financial’s dividend payout ratio (DPR) is 500.00%.

About Alerus Financial

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.