Hsbc Holdings PLC Has $485,000 Stock Position in Alerus Financial $ALRS

Hsbc Holdings PLC reduced its holdings in shares of Alerus Financial (NASDAQ:ALRS) by 56.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 20,488 shares of the company’s stock after selling 26,178 shares during the period. Hsbc Holdings PLC’s holdings in Alerus Financial were worth $485,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ALRS. AQR Capital Management LLC bought a new position in Alerus Financial in the first quarter valued at about $1,195,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Alerus Financial by 4.2% in 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 last quarter. Jane Street Group LLC bought a new position in shares of Alerus Financial in the first quarter worth about $441,000. Cetera Investment Advisers boosted its stake in shares of Alerus Financial by 29.7% in the 2nd quarter. Cetera Investment Advisers now owns 28,720 shares of the company’s stock valued at $622,000 after purchasing an additional 6,575 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Alerus Financial by 3.4% in the 2nd quarter. Rhumbline Advisers now owns 32,263 shares of the company’s stock valued at $698,000 after purchasing an additional 1,072 shares in the last quarter. 51.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALRS has been the subject of a number of research analyst reports. Raymond James Financial began coverage on shares of Alerus Financial in a research report on Thursday, July 9th. They set an “outperform” rating and a $34.00 price objective for the company. DA Davidson set a $36.00 target price on shares of Alerus Financial in a research report on Friday. Wall Street Zen cut shares of Alerus Financial from a “buy” rating to a “hold” rating in a research note on Saturday. Keefe, Bruyette & Woods upped their price target on shares of Alerus Financial from $29.00 to $32.00 and gave the stock a “market perform” rating in a report on Friday. Finally, Zacks Research upgraded Alerus Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $34.75.

Alerus Financial Stock Down 0.9%

Shares of NASDAQ ALRS opened at $33.27 on Friday. The company has a 50 day simple moving average of $30.65 and a 200 day simple moving average of $26.95. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90. Alerus Financial has a 1 year low of $20.26 and a 1 year high of $34.15. The firm has a market cap of $836.08 million, a PE ratio of 31.39 and a beta of 0.68.

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

Alerus Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost from Alerus Financial’s previous quarterly dividend of $0.21. The ex-dividend date was Friday, June 26th. Alerus Financial’s dividend payout ratio (DPR) is presently 83.02%.

About Alerus Financial

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.