Inspire Investing LLC Sells 706 Shares of Alerus Financial $ALRS

Inspire Investing LLC reduced its holdings in Alerus Financial (NASDAQ:ALRS) by 3.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 17,873 shares of the company’s stock after selling 706 shares during the quarter. Inspire Investing LLC’s holdings in Alerus Financial were worth $387,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Thompson Investment Management Inc. purchased a new position in shares of Alerus Financial in the 2nd quarter valued at approximately $32,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Alerus Financial during the second quarter valued at approximately $201,000. Acadian Asset Management LLC boosted its position in shares of Alerus Financial by 41.1% during the first quarter. Acadian Asset Management LLC now owns 73,233 shares of the company’s stock valued at $1,351,000 after purchasing an additional 21,331 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Alerus Financial during the first quarter valued at approximately $441,000. Finally, Petrus Trust Company LTA boosted its position in shares of Alerus Financial by 30.6% during the first quarter. Petrus Trust Company LTA now owns 19,749 shares of the company’s stock valued at $365,000 after purchasing an additional 4,633 shares in the last quarter. 51.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ALRS shares. Piper Sandler lifted 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. Weiss Ratings restated a “hold (c+)” rating on shares of Alerus Financial in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods lifted 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. DA Davidson lifted 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, Raymond James Financial reissued an “outperform” rating and issued a $27.00 target price (up from $24.00) on shares of Alerus Financial in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $25.63.

Alerus Financial Stock Down 3.6%

ALRS stock opened at $20.90 on Friday. Alerus Financial has a 1-year low of $15.78 and a 1-year high of $24.41. The business has a fifty day moving average price of $22.14 and a 200-day moving average price of $21.07. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.88 and a quick ratio of 0.87. The stock has a market capitalization of $530.86 million, a P/E ratio of 12.37 and a beta of 0.70.

Alerus Financial (NASDAQ:ALRS) last posted 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 return on equity of 10.21% and a net margin of 11.06%.The firm had revenue of $74.80 million during the quarter, compared to analysts’ expectations of $69.96 million. Equities analysts forecast that Alerus Financial will post 2.14 earnings per share for the current fiscal year.

Alerus Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 26th were paid a $0.21 dividend. The ex-dividend date was Friday, September 26th. This represents a $0.84 annualized dividend and a dividend yield of 4.0%. Alerus Financial’s payout ratio is currently 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.