Alerus Financial $ALRS Shares Sold by Inspire Investing LLC

Inspire Investing LLC lowered its position in shares of Alerus Financial (NASDAQ:ALRS) by 11.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,579 shares of the company’s stock after selling 2,368 shares during the period. Inspire Investing LLC owned about 0.07% of Alerus Financial worth $343,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Alerus Financial by 4.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,420 shares of the company’s stock worth $248,000 after purchasing an additional 546 shares in the last quarter. CWM LLC increased its position in Alerus Financial by 1.0% in the 1st quarter. CWM LLC now owns 59,755 shares of the company’s stock valued at $1,103,000 after acquiring an additional 584 shares during the period. Ameriprise Financial Inc. increased its position in Alerus Financial by 0.5% in the 4th quarter. Ameriprise Financial Inc. now owns 367,173 shares of the company’s stock valued at $7,064,000 after acquiring an additional 1,958 shares during the period. State of Wyoming acquired a new position in Alerus Financial in the 1st quarter valued at about $49,000. Finally, Hsbc Holdings PLC increased its position in Alerus Financial by 9.0% in the 1st quarter. Hsbc Holdings PLC now owns 32,990 shares of the company’s stock valued at $607,000 after acquiring an additional 2,730 shares during the period. Institutional investors and hedge funds own 51.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ALRS. Piper Sandler boosted their price target on Alerus Financial from $24.00 to $25.50 and gave the company a “neutral” rating in a research report on Wednesday, July 30th. Raymond James Financial restated an “outperform” rating and issued a $27.00 price target (up previously from $24.00) on shares of Alerus Financial in a research report on Tuesday, July 29th. Wall Street Zen cut Alerus Financial from a “buy” rating to a “hold” rating in a research report on Sunday, August 17th. DA Davidson boosted their price target on Alerus Financial from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, July 29th. Finally, Keefe, Bruyette & Woods boosted their price target on Alerus Financial from $22.00 to $25.00 and gave the company a “market perform” rating in a research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $25.63.

Alerus Financial Price Performance

Shares of ALRS opened at $22.48 on Wednesday. Alerus Financial has a twelve month low of $15.78 and a twelve month high of $24.41. The stock’s 50 day moving average is $22.01 and its two-hundred day moving average is $20.57. The firm has a market capitalization of $570.99 million, a PE ratio of 13.30 and a beta of 0.71. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.11.

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

Alerus Financial Dividend Announcement

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

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.