GSA Capital Partners LLP Takes $869,000 Position in Alerus Financial $ALRS

GSA Capital Partners LLP bought a new position in shares of Alerus Financial (NASDAQ:ALRS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 27,955 shares of the company’s stock, valued at approximately $869,000. GSA Capital Partners LLP owned approximately 0.11% of Alerus Financial as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its stake in Alerus Financial by 90.1% in the second quarter. NewEdge Advisors LLC now owns 1,544 shares of the company’s stock valued at $33,000 after purchasing an additional 732 shares during the last quarter. Larson Financial Group LLC raised its holdings in Alerus Financial by 50.0% during the fourth quarter. Larson Financial Group LLC now owns 1,500 shares of the company’s stock worth $34,000 after purchasing an additional 500 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Alerus Financial by 25.7% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,222 shares of the company’s stock worth $50,000 after buying an additional 455 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new stake in shares of Alerus Financial during the 3rd quarter worth approximately $52,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Alerus Financial by 172.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,371 shares of the company’s stock valued at $73,000 after buying an additional 2,135 shares in the last quarter. Hedge funds and other institutional investors own 51.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on ALRS shares. Zacks Research raised shares of Alerus Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Keefe, Bruyette & Woods upped their price objective on shares of Alerus Financial from $29.00 to $32.00 and gave the company a “market perform” rating in a research note on Friday, July 31st. Piper Sandler raised their price objective on Alerus Financial from $32.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. DA Davidson set a $36.00 target price on Alerus Financial in a research report on Friday, July 31st. Finally, Raymond James Financial reissued an “outperform” rating and issued a $37.00 target price on shares of Alerus Financial in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.50.

Alerus Financial Stock Performance

Shares of ALRS opened at $33.60 on Wednesday. The stock has a market capitalization of $836.64 million, a P/E ratio of 31.70 and a beta of 0.68. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.90. Alerus Financial has a 1 year low of $20.31 and a 1 year high of $34.40. The company’s fifty day moving average is $31.83 and its two-hundred day moving average is $27.79.

Alerus Financial (NASDAQ:ALRS) last released its earnings results on Wednesday, July 29th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. Alerus Financial had a net margin of 6.87% and a return on equity of 14.41%. The company had revenue of $80.00 million during the quarter, compared to analysts’ expectations of $76.99 million. On average, sell-side analysts predict that Alerus Financial will post 3.03 earnings per share for the current year.

Alerus Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were given a $0.22 dividend. The ex-dividend date was Friday, June 26th. This is an increase from Alerus Financial’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 2.6%. Alerus Financial’s payout ratio is 83.02%.

Alerus Financial Company 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.