CSM Advisors LLC Takes Position in Alerus Financial $ALRS

CSM Advisors LLC acquired a new position in shares of Alerus Financial (NASDAQ:ALRS) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 190,470 shares of the company’s stock, valued at approximately $4,123,000. CSM Advisors LLC owned about 0.75% of Alerus Financial at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 purchasing an additional 546 shares during the period. CWM LLC grew its position in shares of Alerus Financial by 1.0% during the 1st quarter. CWM LLC now owns 59,755 shares of the company’s stock valued at $1,103,000 after buying an additional 584 shares during the last quarter. Thompson Investment Management Inc. acquired a new stake in Alerus Financial during the second quarter worth about $32,000. State of Wyoming bought a new position in Alerus Financial in the first quarter worth about $49,000. Finally, Hsbc Holdings PLC lifted its holdings in Alerus Financial by 9.0% in the first quarter. Hsbc Holdings PLC now owns 32,990 shares of the company’s stock worth $607,000 after acquiring an additional 2,730 shares during the last quarter. Institutional investors own 51.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ALRS. Piper Sandler lowered their target price on Alerus Financial from $25.50 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, November 4th. Zacks Research upgraded Alerus Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 23rd. Wall Street Zen cut Alerus Financial from a “buy” rating to a “hold” rating in a research note on Sunday, August 17th. Raymond James Financial restated an “outperform” rating and set a $27.00 price target (up previously from $24.00) on shares of Alerus Financial in a research report on Tuesday, July 29th. Finally, DA Davidson increased 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 research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Alerus Financial presently has an average rating of “Moderate Buy” and a consensus price target of $25.00.

Alerus Financial Price Performance

Shares of ALRS opened at $21.01 on Monday. Alerus Financial has a one year low of $15.78 and a one year high of $24.33. The stock’s fifty day moving average is $21.96 and its 200-day moving average is $21.65. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $533.65 million, a price-to-earnings ratio of 10.10 and a beta of 0.74.

Alerus Financial (NASDAQ:ALRS) last announced its earnings results on Thursday, October 30th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. The firm had revenue of $72.57 million during the quarter, compared to analyst estimates of $71.41 million. Alerus Financial had a net margin of 13.45% and a return on equity of 11.63%. Equities analysts anticipate that Alerus Financial will post 2.14 EPS for the current year.

Alerus Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Friday, September 26th. Alerus Financial’s dividend payout ratio (DPR) is currently 40.38%.

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.