Geode Capital Management LLC Boosts Stock Holdings in Alerus Financial $ALRS

Geode Capital Management LLC lifted its holdings in Alerus Financial (NASDAQ:ALRS) by 4.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 561,336 shares of the company’s stock after purchasing an additional 23,112 shares during the period. Geode Capital Management LLC’s holdings in Alerus Financial were worth $12,150,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Thompson Investment Management Inc. purchased a new position in Alerus Financial during the second quarter valued at approximately $32,000. State of Wyoming bought a new stake in Alerus Financial during the 1st quarter valued at $49,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Alerus Financial in the 2nd quarter valued at $201,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Alerus Financial by 4.2% in 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 in the last quarter. Finally, Petrus Trust Company LTA raised its position in shares of Alerus Financial by 30.6% in the 1st quarter. Petrus Trust Company LTA now owns 19,749 shares of the company’s stock worth $365,000 after acquiring an additional 4,633 shares in the last quarter. 51.25% of the stock is currently owned by institutional investors.

Alerus Financial Stock Performance

ALRS opened at $21.70 on Wednesday. The company has a market cap of $551.18 million, a P/E ratio of 10.43 and a beta of 0.70. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The firm’s 50-day moving average price is $21.56 and its 200-day moving average price is $21.76. Alerus Financial has a 52-week low of $15.78 and a 52-week high of $24.33.

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

Analyst Ratings Changes

A number of brokerages recently weighed in on ALRS. Piper Sandler dropped their price objective on Alerus Financial from $25.50 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 4th. Wall Street Zen lowered shares of Alerus Financial from a “buy” rating to a “hold” rating in a research report on Sunday, August 17th. Keefe, Bruyette & Woods cut their price objective on shares of Alerus Financial from $25.00 to $24.00 and set a “market perform” rating on the stock in a research report on Monday, November 3rd. Zacks Research lowered shares of Alerus Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Alerus Financial in a research note on Monday. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $25.00.

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.