Alerus Financial $ALRS Shares Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC grew its holdings in Alerus Financial (NASDAQ:ALRS) by 60.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,791 shares of the company’s stock after buying an additional 13,907 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.15% of Alerus Financial worth $679,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Tower Research Capital LLC TRC lifted its holdings in shares of Alerus Financial by 457.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,277 shares of the company’s stock valued at $25,000 after buying an additional 1,048 shares during the period. State of Wyoming acquired a new position in Alerus Financial during the first quarter worth $49,000. BNP Paribas Financial Markets acquired a new position in Alerus Financial during the fourth quarter worth $56,000. Cetera Investment Advisers acquired a new position in Alerus Financial during the fourth quarter worth $211,000. Finally, Aviance Capital Partners LLC acquired a new position in Alerus Financial during the first quarter worth $242,000. 51.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on ALRS. DA Davidson lifted their price objective on Alerus Financial from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, July 29th. Piper Sandler lifted their price objective on Alerus Financial from $24.00 to $25.50 and gave the stock a “neutral” rating in a report on Wednesday, July 30th. Wall Street Zen cut Alerus Financial from a “buy” rating to a “hold” rating in a report on Sunday, August 17th. Raymond James Financial reaffirmed an “outperform” rating and set a $27.00 price objective (up from $24.00) on shares of Alerus Financial in a report on Tuesday, July 29th. Finally, Keefe, Bruyette & Woods lifted their price objective on Alerus Financial from $22.00 to $25.00 and gave the stock a “market perform” rating in a report on Tuesday, July 29th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $25.63.

Alerus Financial Price Performance

Shares of NASDAQ:ALRS opened at $22.64 on Wednesday. The business has a fifty day simple moving average of $22.01 and a 200-day simple moving average of $20.50. Alerus Financial has a 52 week low of $15.78 and a 52 week high of $24.41. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.11. The company has a market cap of $574.97 million, a P/E ratio of 13.40 and a beta of 0.71.

Alerus Financial (NASDAQ:ALRS) last issued its quarterly earnings data on Monday, July 28th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.16. The company had revenue of $74.80 million for the quarter, compared to analysts’ expectations of $69.96 million. Alerus Financial had a return on equity of 10.21% and a net margin of 11.06%. Equities research analysts forecast that Alerus Financial will post 2.14 EPS for the current year.

Alerus Financial Dividend Announcement

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

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.