Choreo LLC Has $6.39 Million Stock Position in Alerus Financial $ALRS

Choreo LLC lifted its holdings in Alerus Financial (NASDAQ:ALRS) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 294,542 shares of the company’s stock after purchasing an additional 8,727 shares during the period. Choreo LLC owned 1.16% of Alerus Financial worth $6,391,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Thompson Investment Management Inc. bought a new position in Alerus Financial during the second quarter valued at about $32,000. State of Wyoming bought a new position in shares of Alerus Financial in the 1st quarter valued at approximately $49,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Alerus Financial in the 2nd quarter worth approximately $201,000. Semanteon Capital Management LP bought a new stake in Alerus Financial during the second quarter worth approximately $222,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 purchasing an additional 546 shares during the period. 51.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Alerus Financial Price Performance

Shares of ALRS stock opened at $21.74 on Thursday. Alerus Financial has a 12 month low of $15.78 and a 12 month high of $24.33. The company has a market capitalization of $552.20 million, a P/E ratio of 10.45 and a beta of 0.73. The stock has a 50 day moving average of $21.67 and a two-hundred day moving average of $21.77. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11.

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

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.