49,149 Shares in Alerus Financial $ALRS Bought by Pinnacle Holdings LLC

Pinnacle Holdings LLC bought a new stake in Alerus Financial (NASDAQ:ALRS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 49,149 shares of the company’s stock, valued at approximately $1,529,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fortress Financial Group LLC purchased a new stake in Alerus Financial during the 2nd quarter worth about $2,063,000. Ieq Capital LLC acquired a new position in shares of Alerus Financial during the 2nd quarter worth about $1,220,000. Meeder Asset Management Inc. purchased a new position in shares of Alerus Financial in the 2nd quarter valued at about $142,000. BlackRock Inc. purchased a new position in shares of Alerus Financial in the 2nd quarter valued at about $56,672,000. Finally, Deutsche Bank AG acquired a new stake in shares of Alerus Financial during the 2nd quarter worth about $728,000. 51.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ALRS has been the subject of several recent analyst reports. DA Davidson set a $36.00 target price on Alerus Financial in a research note on Friday, July 31st. Wall Street Zen cut shares of Alerus Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Zacks Research downgraded shares of Alerus Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Weiss Ratings cut shares of Alerus Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, August 17th. Finally, Keefe, Bruyette & Woods increased 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. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $35.50.

Alerus Financial Price Performance

ALRS stock opened at $32.77 on Monday. The company has a fifty day moving average price of $32.00 and a 200 day moving average price of $27.96. Alerus Financial has a 12 month low of $20.31 and a 12 month high of $34.40. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.89. The company has a market cap of $815.97 million, a price-to-earnings ratio of 30.92 and a beta of 0.68.

Alerus Financial (NASDAQ:ALRS) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.80 earnings per share 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 firm had revenue of $80.00 million during the quarter, compared to the consensus estimate of $76.99 million. Sell-side analysts expect that Alerus Financial will post 3.03 earnings per share for the current year.

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.