Hsbc Holdings PLC Sells 26,178 Shares of Alerus Financial $ALRS

Hsbc Holdings PLC lessened its stake in shares of Alerus Financial (NASDAQ:ALRS) by 56.1% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 20,488 shares of the company’s stock after selling 26,178 shares during the quarter. Hsbc Holdings PLC owned about 0.08% of Alerus Financial worth $485,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. CANADA LIFE ASSURANCE Co raised its holdings in Alerus Financial by 25.7% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,222 shares of the company’s stock valued at $50,000 after acquiring an additional 455 shares during the period. Larson Financial Group LLC lifted its position in Alerus Financial by 50.0% during the fourth quarter. Larson Financial Group LLC now owns 1,500 shares of the company’s stock worth $34,000 after acquiring an additional 500 shares during the last quarter. Gator Capital Management LLC boosted its holdings in shares of Alerus Financial by 0.8% during the fourth quarter. Gator Capital Management LLC now owns 65,410 shares of the company’s stock worth $1,473,000 after acquiring an additional 505 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Alerus Financial by 4.2% during the first 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, Wealth Enhancement Advisory Services LLC grew its position in shares of Alerus Financial by 5.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,696 shares of the company’s stock valued at $297,000 after purchasing an additional 608 shares during the last quarter. Institutional investors own 51.25% of the company’s stock.

Alerus Financial Trading Down 0.9%

Shares of Alerus Financial stock opened at $33.27 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. Alerus Financial has a 12-month low of $20.26 and a 12-month high of $34.15. The company has a market capitalization of $836.08 million, a price-to-earnings ratio of 31.39 and a beta of 0.68. The firm’s 50-day moving average price is $30.65 and its two-hundred day moving average price is $26.95.

Alerus Financial (NASDAQ:ALRS) last issued its earnings results on Wednesday, July 29th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. Alerus Financial had a net margin of 6.87% and a return on equity of 14.53%. The company had revenue of $80.00 million during the quarter, compared to analysts’ expectations of $76.99 million. On average, analysts forecast that Alerus Financial will post 3.03 earnings per share for the current fiscal year.

Alerus Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.6%. This is a positive change from Alerus Financial’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Friday, June 26th. Alerus Financial’s payout ratio is 83.02%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ALRS shares. Wall Street Zen lowered Alerus Financial from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings upgraded Alerus Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Piper Sandler upped their price objective on Alerus Financial from $32.00 to $37.00 and gave the company a “neutral” rating in a report on Friday. Keefe, Bruyette & Woods increased their price objective on Alerus Financial from $29.00 to $32.00 and gave the stock a “market perform” rating in a research report on Friday. Finally, Zacks Research upgraded Alerus Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.75.

Alerus Financial Company 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.