Rhino Investment Partners Inc Sells 60,501 Shares of Alerus Financial $ALRS

Rhino Investment Partners Inc lessened its stake in shares of Alerus Financial (NASDAQ:ALRS) by 19.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 243,495 shares of the company’s stock after selling 60,501 shares during the period. Alerus Financial comprises about 1.1% of Rhino Investment Partners Inc’s holdings, making the stock its 29th biggest position. Rhino Investment Partners Inc’s holdings in Alerus Financial were worth $4,495,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC grew its position in shares of Alerus Financial by 8.1% during the 4th quarter. Barclays PLC now owns 48,001 shares of the company’s stock valued at $924,000 after acquiring an additional 3,602 shares during the period. Dimensional Fund Advisors LP lifted its stake in Alerus Financial by 120.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 666,559 shares of the company’s stock valued at $12,824,000 after purchasing an additional 363,617 shares during the last quarter. MetLife Investment Management LLC grew its holdings in Alerus Financial by 24.6% during the fourth quarter. MetLife Investment Management LLC now owns 13,275 shares of the company’s stock valued at $255,000 after purchasing an additional 2,620 shares during the period. Ameriprise Financial Inc. increased its position in Alerus Financial by 0.5% in the fourth quarter. Ameriprise Financial Inc. now owns 367,173 shares of the company’s stock worth $7,064,000 after buying an additional 1,958 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Alerus Financial by 32.7% in the fourth quarter. Legal & General Group Plc now owns 2,025 shares of the company’s stock worth $39,000 after buying an additional 499 shares during the last quarter. 51.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ALRS. Raymond James Financial reiterated an “outperform” rating and set a $27.00 price target (up previously from $24.00) on shares of Alerus Financial in a research note on Tuesday, July 29th. Keefe, Bruyette & Woods increased their target price on shares of Alerus Financial from $22.00 to $25.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 29th. Piper Sandler lifted their target price on shares of Alerus Financial from $24.00 to $25.50 and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. Wall Street Zen lowered shares of Alerus Financial from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, DA Davidson raised their price objective on shares of Alerus Financial from $20.00 to $25.00 and gave the stock a “neutral” rating in a 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $25.63.

Alerus Financial Stock Up 0.5%

Shares of NASDAQ:ALRS opened at $21.60 on Thursday. The firm has a fifty day moving average price of $21.76 and a two-hundred day moving average price of $20.42. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.88 and a quick ratio of 0.87. Alerus Financial has a one year low of $15.78 and a one year high of $24.41. The company has a market cap of $548.64 million, a price-to-earnings ratio of 12.78 and a beta of 0.71.

Alerus Financial (NASDAQ:ALRS) last released its quarterly earnings results on Monday, July 28th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.16. Alerus Financial had a net margin of 11.06% and a return on equity of 10.21%. The firm had revenue of $74.80 million for the quarter, compared to analysts’ expectations of $69.96 million. Analysts anticipate that Alerus Financial will post 2.14 EPS for the current fiscal year.

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.