Johnson Wealth Management LLC Makes New Investment in Alerus Financial $ALRS

Johnson Wealth Management LLC acquired a new position in shares of Alerus Financial (NASDAQ:ALRS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 28,186 shares of the company’s stock, valued at approximately $635,000. Alerus Financial comprises 0.3% of Johnson Wealth Management LLC’s investment portfolio, making the stock its 28th biggest holding. Johnson Wealth Management LLC owned about 0.11% of Alerus Financial as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. NewEdge Advisors LLC grew its position in shares of Alerus Financial by 90.1% during the 2nd quarter. NewEdge Advisors LLC now owns 1,544 shares of the company’s stock worth $33,000 after buying an additional 732 shares during the period. Larson Financial Group LLC grew its position in shares of Alerus Financial by 50.0% during the 4th quarter. Larson Financial Group LLC now owns 1,500 shares of the company’s stock worth $34,000 after buying an additional 500 shares during the period. CIBC Private Wealth Group LLC acquired a new position in shares of Alerus Financial during the 3rd quarter worth about $52,000. AlphaQuest LLC acquired a new position in shares of Alerus Financial during the 3rd quarter worth about $59,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Alerus Financial by 172.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,371 shares of the company’s stock worth $73,000 after buying an additional 2,135 shares during the period. 51.25% of the stock is currently owned by institutional investors and hedge funds.

Alerus Financial Price Performance

NASDAQ ALRS opened at $29.68 on Thursday. The business has a 50 day simple moving average of $26.64 and a 200 day simple moving average of $24.70. Alerus Financial has a 52-week low of $20.26 and a 52-week high of $29.85. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market cap of $745.86 million, a price-to-earnings ratio of 28.82 and a beta of 0.69.

Alerus Financial (NASDAQ:ALRS) last posted its earnings results on Wednesday, April 29th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.31. Alerus Financial had a return on equity of 14.39% and a net margin of 6.74%.The business had revenue of $75.78 million during the quarter, compared to analysts’ expectations of $73.78 million. Analysts anticipate that Alerus Financial will post 2.95 earnings per share for the current fiscal year.

Alerus Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be given a dividend of $0.22 per share. This is an increase from Alerus Financial’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, June 26th. This represents a $0.88 dividend on an annualized basis and a yield of 3.0%. Alerus Financial’s payout ratio is currently 81.55%.

Wall Street Analyst Weigh In

ALRS has been the subject of several analyst reports. DA Davidson boosted their target price on Alerus Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Wall Street Zen upgraded Alerus Financial from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Piper Sandler boosted their target price on Alerus Financial from $28.00 to $28.50 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Weiss Ratings upgraded Alerus Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. Finally, Zacks Research upgraded Alerus Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.38.

Alerus Financial 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.