CenterBook Partners LP Buys New Stake in Alerus Financial $ALRS

CenterBook Partners LP bought a new position in shares of Alerus Financial (NASDAQ:ALRS) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 33,443 shares of the company’s stock, valued at approximately $740,000. CenterBook Partners LP owned about 0.13% of Alerus Financial at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ALRS. AQR Capital Management LLC bought a new stake in Alerus Financial during the 1st quarter valued at approximately $1,195,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 buying an additional 546 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Alerus Financial in the first quarter valued at approximately $441,000. Los Angeles Capital Management LLC grew its stake in shares of Alerus Financial by 110.9% in the second quarter. Los Angeles Capital Management LLC now owns 97,749 shares of the company’s stock worth $2,115,000 after acquiring an additional 51,405 shares during the last quarter. Finally, CSM Advisors LLC acquired a new stake in shares of Alerus Financial in the second quarter worth $4,123,000. 51.25% of the stock is currently owned by institutional investors.

Alerus Financial Stock Up 1.0%

Shares of NASDAQ:ALRS opened at $25.45 on Friday. The company’s fifty day moving average is $23.93 and its 200-day moving average is $22.60. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89. Alerus Financial has a 52 week low of $15.78 and a 52 week high of $26.32. The company has a market capitalization of $646.43 million, a PE ratio of 38.56 and a beta of 0.64.

Alerus Financial (NASDAQ:ALRS) last announced its quarterly earnings results on Wednesday, January 28th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.28. The firm had revenue of $77.07 million during the quarter, compared to the consensus estimate of $71.43 million. Alerus Financial had a net margin of 4.36% and a return on equity of 13.38%. Equities research analysts predict 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 was paid on Friday, January 9th. Investors of record on Friday, December 26th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, December 26th. Alerus Financial’s dividend payout ratio (DPR) is currently 127.27%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ALRS shares. Wall Street Zen upgraded shares of Alerus Financial from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Piper Sandler cut their price objective on shares of Alerus Financial from $25.50 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, November 4th. Weiss Ratings upgraded shares of Alerus Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 26th. DA Davidson boosted their price target on Alerus Financial from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Finally, Keefe, Bruyette & Woods raised their price objective on Alerus Financial from $24.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Alerus Financial presently has an average rating of “Moderate Buy” and an average price target of $26.00.

Alerus Financial Profile

Alerus Financial Corporation (NASDAQ: ALRS) is a diversified financial services company headquartered in Grand Forks, North Dakota. The firm provides a full range of commercial and consumer banking products, including deposit accounts, lending solutions and treasury management services for individuals, small businesses and larger corporate clients. Through its community banking network, Alerus emphasizes local decision-making and personalized service to meet the needs of its varied client base.

In addition to traditional banking offerings, Alerus operates a national mortgage origination and servicing platform that delivers home purchase and refinance loans.