Alerus Financial $ALRS Shares Bought by Invesco Ltd.

Invesco Ltd. boosted its holdings in shares of Alerus Financial (NASDAQ:ALRS) by 9.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,447 shares of the company’s stock after acquiring an additional 3,232 shares during the period. Invesco Ltd. owned about 0.14% of Alerus Financial worth $673,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALRS. Vanguard Group Inc. grew its holdings in shares of Alerus Financial by 13.2% during the first quarter. Vanguard Group Inc. now owns 1,194,264 shares of the company’s stock worth $22,046,000 after buying an additional 139,435 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Alerus Financial by 102.3% during the first quarter. Cetera Investment Advisers now owns 22,145 shares of the company’s stock worth $409,000 after buying an additional 11,200 shares in the last quarter. Choreo LLC grew its holdings in Alerus Financial by 112.1% in the first quarter. Choreo LLC now owns 285,815 shares of the company’s stock valued at $5,333,000 after purchasing an additional 151,045 shares during the period. CWM LLC grew its holdings in Alerus Financial by 1.0% in the first quarter. CWM LLC now owns 59,755 shares of the company’s stock valued at $1,103,000 after purchasing an additional 584 shares during the period. Finally, Aviance Capital Partners LLC purchased a new stake in Alerus Financial during the first quarter worth approximately $242,000. Institutional investors and hedge funds own 51.25% of the company’s stock.

Alerus Financial Stock Performance

Shares of ALRS opened at $22.80 on Friday. The firm has a 50-day moving average price of $21.96 and a 200 day moving average price of $20.48. The firm has a market capitalization of $579.12 million, a PE ratio of 13.49 and a beta of 0.71. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.11. Alerus Financial has a 52-week low of $15.78 and a 52-week high of $24.41.

Alerus Financial (NASDAQ:ALRS) last announced its earnings results on Monday, July 28th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.16. The firm had revenue of $74.80 million during the quarter, compared to analyst estimates of $69.96 million. Alerus Financial had a net margin of 11.06% and a return on equity of 10.21%. On average, sell-side analysts anticipate that Alerus Financial will post 2.14 earnings per share for the current fiscal year.

Alerus Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, September 26th. Alerus Financial’s dividend payout ratio is presently 49.70%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Alerus Financial from $22.00 to $25.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 29th. Wall Street Zen cut shares of Alerus Financial from a “buy” rating to a “hold” rating in a research report on Sunday, August 17th. DA Davidson boosted their target price on shares of Alerus Financial from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 29th. Piper Sandler boosted their target price on shares of Alerus Financial from $24.00 to $25.50 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Finally, Raymond James Financial reissued an “outperform” rating and set a $27.00 target price (up from $24.00) on shares of Alerus Financial in a research report on Tuesday, July 29th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.