23,160 Shares in Alerus Financial Co. (NASDAQ:ALRS) Acquired by Foundry Partners LLC

Foundry Partners LLC acquired a new stake in shares of Alerus Financial Co. (NASDAQ:ALRS) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 23,160 shares of the company’s stock, valued at approximately $530,000.

Other large investors have also added to or reduced their stakes in the company. Cetera Advisors LLC bought a new position in shares of Alerus Financial during the first quarter valued at $638,000. CWM LLC increased its stake in Alerus Financial by 85,625.0% during the 2nd quarter. CWM LLC now owns 58,293 shares of the company’s stock valued at $1,143,000 after purchasing an additional 58,225 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Alerus Financial by 4,147.8% in the first quarter. Acadian Asset Management LLC now owns 26,294 shares of the company’s stock worth $573,000 after buying an additional 25,675 shares during the last quarter. Stieven Capital Advisors L.P. bought a new position in shares of Alerus Financial in the third quarter worth approximately $5,966,000. Finally, Squarepoint Ops LLC grew its holdings in shares of Alerus Financial by 191.1% during the second quarter. Squarepoint Ops LLC now owns 46,839 shares of the company’s stock valued at $919,000 after buying an additional 30,750 shares during the last quarter. Hedge funds and other institutional investors own 51.25% of the company’s stock.

Alerus Financial Stock Performance

ALRS stock opened at $22.11 on Friday. The company has a market cap of $560.22 million, a P/E ratio of 138.19 and a beta of 0.68. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.85 and a quick ratio of 0.85. Alerus Financial Co. has a 1 year low of $18.05 and a 1 year high of $25.85. The stock’s fifty day moving average price is $22.44 and its 200-day moving average price is $21.09.

Alerus Financial (NASDAQ:ALRS) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.18). Alerus Financial had a net margin of 1.01% and a return on equity of 6.02%. The firm had revenue of $80.58 million for the quarter, compared to the consensus estimate of $52.30 million. During the same quarter in the prior year, the firm earned $0.45 earnings per share. On average, equities analysts forecast that Alerus Financial Co. will post 0.97 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Raymond James upgraded shares of Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a report on Tuesday, September 17th. Piper Sandler lowered their price target on Alerus Financial from $24.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Keefe, Bruyette & Woods increased their price objective on Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Finally, DA Davidson boosted their target price on Alerus Financial from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.20.

Alerus Financial 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.