Fortress Financial Group LLC Takes $2.06 Million Position in Alerus Financial $ALRS

Fortress Financial Group LLC bought a new stake in Alerus Financial (NASDAQ:ALRS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 66,344 shares of the company’s stock, valued at approximately $2,063,000. Alerus Financial accounts for 0.6% of Fortress Financial Group LLC’s portfolio, making the stock its 21st biggest position.

A number of other institutional investors have also recently bought and sold shares of the business. NewEdge Advisors LLC grew its position in shares of Alerus Financial by 90.1% during the 2nd quarter. NewEdge Advisors LLC now owns 1,544 shares of the company’s stock worth $33,000 after purchasing an additional 732 shares in the last quarter. Larson Financial Group LLC grew 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 buying an additional 500 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Alerus Financial by 25.7% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,222 shares of the company’s stock worth $50,000 after acquiring an additional 455 shares during the period. CIBC Private Wealth Group LLC acquired a new position in Alerus Financial in the 3rd quarter valued at $52,000. Finally, Tower Research Capital LLC TRC raised its holdings in Alerus Financial by 172.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,371 shares of the company’s stock valued at $73,000 after acquiring an additional 2,135 shares in the last quarter. Institutional investors own 51.25% of the company’s stock.

Alerus Financial Trading Up 0.6%

Shares of Alerus Financial stock opened at $32.77 on Friday. The firm’s 50 day moving average is $32.00 and its 200 day moving average is $27.94. The firm has a market capitalization of $815.97 million, a PE ratio of 30.92 and a beta of 0.68. Alerus Financial has a 1 year low of $20.31 and a 1 year high of $34.40. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10.

Alerus Financial (NASDAQ:ALRS) last issued its earnings results on Wednesday, July 29th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The firm had revenue of $80.00 million for the quarter, compared to analyst estimates of $76.99 million. Alerus Financial had a net margin of 6.87% and a return on equity of 14.41%. Equities research analysts forecast that Alerus Financial will post 3.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ALRS has been the topic of several analyst reports. DA Davidson set a $36.00 target price on Alerus Financial in a report on Friday, July 31st. Weiss Ratings downgraded shares of Alerus Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Keefe, Bruyette & Woods boosted their target price on shares of Alerus Financial from $29.00 to $32.00 and gave the company a “market perform” rating in a research report on Friday, July 31st. Wall Street Zen lowered shares of Alerus Financial from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Piper Sandler boosted their price objective on shares of Alerus Financial from $32.00 to $37.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Alerus Financial has an average rating of “Hold” and an average target price of $35.50.

Alerus Financial 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.