Foundry Partners LLC Purchases New Shares in Alerus Financial Co. (NASDAQ:ALRS)

Foundry Partners LLC purchased a new position in shares of Alerus Financial Co. (NASDAQ:ALRS - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 23,160 shares of the company's stock, valued at approximately $530,000. Foundry Partners LLC owned approximately 0.09% of Alerus Financial as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Alerus Financial by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 911,806 shares of the company's stock worth $19,905,000 after purchasing an additional 13,637 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Alerus Financial by 4,147.8% during the 1st quarter. Acadian Asset Management LLC now owns 26,294 shares of the company's stock worth $573,000 after purchasing an additional 25,675 shares in the last quarter. Cetera Advisors LLC acquired a new position in shares of Alerus Financial during the 1st quarter worth approximately $638,000. CWM LLC grew its position in shares of Alerus Financial by 85,625.0% during the 2nd quarter. CWM LLC now owns 58,293 shares of the company's stock worth $1,143,000 after purchasing an additional 58,225 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Alerus Financial by 4.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 123,512 shares of the company's stock worth $2,422,000 after purchasing an additional 5,323 shares in the last quarter. 51.25% of the stock is owned by institutional investors.

Alerus Financial Trading Up 1.0 %

NASDAQ ALRS traded up $0.22 on Friday, hitting $22.11. The company's stock had a trading volume of 44,452 shares, compared to its average volume of 81,691. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15. Alerus Financial Co. has a 1-year low of $18.05 and a 1-year high of $25.85. The company's 50-day moving average is $22.44 and its 200 day moving average is $21.09. The firm has a market cap of $560.27 million, a PE ratio of 138.20 and a beta of 0.68.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.18). Alerus Financial had a return on equity of 6.02% and a net margin of 1.01%. The firm had revenue of $80.58 million for the quarter, compared to analyst estimates of $52.30 million. During the same quarter last year, the company earned $0.45 earnings per share. As a group, analysts predict that Alerus Financial Co. will post 0.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on ALRS. DA Davidson increased their target price on shares of Alerus Financial from $20.00 to $23.00 and gave the stock a "neutral" rating in a research report on Thursday, August 1st. Piper Sandler cut their price target on shares of Alerus Financial from $24.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, October 31st. Keefe, Bruyette & Woods upped their price target on shares of Alerus Financial from $22.00 to $23.00 and gave the stock a "market perform" rating in a report on Monday, July 29th. Finally, Raymond James raised shares of Alerus Financial from a "market perform" rating to an "outperform" rating and set a $24.00 price target for the company in a report on Tuesday, September 17th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $23.20.

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.