Renaissance Technologies LLC Sells 20,726 Shares of Alerus Financial $ALRS

Renaissance Technologies LLC lessened its position in shares of Alerus Financial (NASDAQ:ALRS) by 17.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,286 shares of the company’s stock after selling 20,726 shares during the quarter. Renaissance Technologies LLC’s holdings in Alerus Financial were worth $2,330,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ALRS. NewEdge Advisors LLC raised its holdings in 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 purchasing an additional 732 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Alerus Financial by 50.0% in the 4th quarter. Larson Financial Group LLC now owns 1,500 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares during the last quarter. CANADA LIFE ASSURANCE Co grew 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 period. CIBC Private Wealth Group LLC acquired a new stake in shares of Alerus Financial during the 3rd quarter worth approximately $52,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Alerus Financial by 172.7% during the second 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 last quarter. Institutional investors own 51.25% of the company’s stock.

Alerus Financial Trading Down 0.1%

NASDAQ:ALRS opened at $33.21 on Tuesday. The company has a market cap of $826.93 million, a P/E ratio of 31.33 and a beta of 0.68. Alerus Financial has a twelve month low of $20.31 and a twelve month high of $34.40. The business has a 50 day moving average price of $31.26 and a two-hundred day moving average price of $27.39. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.10.

Alerus Financial (NASDAQ:ALRS) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The company had revenue of $80.00 million for the quarter, compared to the consensus estimate of $76.99 million. Alerus Financial had a net margin of 6.87% and a return on equity of 14.41%. As a group, analysts expect that Alerus Financial will post 3.03 EPS for the current fiscal year.

Alerus Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, June 26th. This is an increase from Alerus Financial’s previous quarterly dividend of $0.21. Alerus Financial’s dividend payout ratio (DPR) is presently 83.02%.

Analysts Set New Price Targets

ALRS has been the topic of a number of recent research reports. Raymond James Financial reaffirmed an “outperform” rating and issued a $37.00 price objective on shares of Alerus Financial in a research note on Monday, August 3rd. Piper Sandler upped their target price on shares of Alerus Financial from $32.00 to $37.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Wall Street Zen downgraded Alerus Financial from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Keefe, Bruyette & Woods raised their price target on Alerus Financial from $29.00 to $32.00 and gave the stock a “market perform” rating in a research report on Friday, July 31st. Finally, DA Davidson set a $36.00 price objective on Alerus Financial in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $35.50.

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.