Thompson Investment Management Inc. Invests $32,000 in Alerus Financial $ALRS

Thompson Investment Management Inc. acquired a new position in shares of Alerus Financial (NASDAQ:ALRS) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,470 shares of the company’s stock, valued at approximately $32,000.

A number of other hedge funds have also recently added to or reduced their stakes in ALRS. State of Wyoming bought a new position in Alerus Financial during the 1st quarter worth $49,000. Wealth Enhancement Advisory Services LLC bought a new position in Alerus Financial during the 2nd quarter worth $201,000. Aviance Capital Partners LLC bought a new position in Alerus Financial during the 1st quarter worth $242,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Alerus Financial by 4.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,420 shares of the company’s stock worth $248,000 after acquiring an additional 546 shares during the period. Finally, Hanson & Doremus Investment Management bought a new position in Alerus Financial during the 1st quarter worth $287,000. Institutional investors own 51.25% of the company’s stock.

Wall Street Analysts Forecast Growth

ALRS has been the topic of a number of recent research reports. Piper Sandler raised their price objective on Alerus Financial from $24.00 to $25.50 and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. Raymond James Financial reissued an “outperform” rating and set a $27.00 price target (up previously from $24.00) on shares of Alerus Financial in a report on Tuesday, July 29th. Keefe, Bruyette & Woods boosted their price target on Alerus Financial from $22.00 to $25.00 and gave the stock a “market perform” rating in a report on Tuesday, July 29th. Wall Street Zen cut Alerus Financial from a “buy” rating to a “hold” rating in a report on Sunday, August 17th. Finally, DA Davidson boosted their price target on Alerus Financial from $20.00 to $25.00 and gave the stock a “neutral” rating 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 data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.63.

Alerus Financial Trading Down 3.4%

Shares of ALRS stock opened at $20.81 on Friday. The firm has a market capitalization of $528.57 million, a P/E ratio of 12.31 and a beta of 0.70. Alerus Financial has a twelve month low of $15.78 and a twelve month high of $24.41. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.11. The stock’s fifty day simple moving average is $22.08 and its 200 day simple moving average is $20.99.

Alerus Financial (NASDAQ:ALRS) last issued its quarterly earnings data on Monday, July 28th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.16. The business had revenue of $74.80 million for the quarter, compared to analyst estimates of $69.96 million. Alerus Financial had a return on equity of 10.21% and a net margin of 11.06%. As a group, sell-side analysts predict that Alerus Financial will post 2.14 EPS for the current fiscal year.

Alerus Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were given a dividend of $0.21 per share. The ex-dividend date was Friday, September 26th. This represents a $0.84 dividend on an annualized basis and a 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.