Fortress Financial Group LLC Invests $2.06 Million in Alerus Financial $ALRS

Fortress Financial Group LLC bought a new stake in Alerus Financial (NASDAQ:ALRS) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 66,344 shares of the company’s stock, valued at approximately $2,063,000. Alerus Financial comprises about 0.6% of Fortress Financial Group LLC’s holdings, making the stock its 21st biggest holding. Fortress Financial Group LLC owned approximately 0.27% of Alerus Financial as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Alerus Financial during the 2nd quarter worth approximately $56,672,000. AQR Capital Management LLC lifted its position in shares of Alerus Financial by 265.7% in the second quarter. AQR Capital Management LLC now owns 236,720 shares of the company’s stock worth $5,123,000 after purchasing an additional 171,984 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Alerus Financial during the second quarter worth $3,869,000. Empowered Funds LLC acquired a new position in Alerus Financial during the first quarter worth $1,951,000. Finally, Goldman Sachs Group Inc. grew its position in Alerus Financial by 37.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 298,060 shares of the company’s stock valued at $6,712,000 after purchasing an additional 80,599 shares in the last quarter. Institutional investors own 51.25% of the company’s stock.

Wall Street Analyst Weigh In

ALRS has been the subject of several analyst reports. Wall Street Zen cut Alerus Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. DA Davidson set a $36.00 price target on Alerus Financial in a research note on Friday, July 31st. Zacks Research lowered Alerus Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Keefe, Bruyette & Woods increased their price objective on Alerus Financial from $29.00 to $32.00 and gave the company a “market perform” rating in a report on Friday, July 31st. Finally, Raymond James Financial reissued an “outperform” rating and issued a $37.00 target price on shares of Alerus Financial in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $35.50.

Alerus Financial Price Performance

Shares of NASDAQ ALRS opened at $32.77 on Friday. The business’s 50 day moving average price is $32.00 and its two-hundred day moving average price is $27.94. The company has a market cap of $815.97 million, a PE ratio of 30.92 and a beta of 0.68. 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 has a twelve month low of $20.31 and a twelve month high of $34.40.

Alerus Financial (NASDAQ:ALRS) last issued its earnings results on Wednesday, July 29th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. Alerus Financial had a return on equity of 14.41% and a net margin of 6.87%.The company had revenue of $80.00 million during the quarter, compared to the consensus estimate of $76.99 million. On average, analysts predict that Alerus Financial will post 3.03 EPS for the current year.

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.