Wakefield Asset Management LLLP Takes $813,000 Position in Alerus Financial Co. (NASDAQ:ALRS)

Wakefield Asset Management LLLP acquired a new stake in shares of Alerus Financial Co. (NASDAQ:ALRS) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 28,015 shares of the company’s stock, valued at approximately $813,000. Wakefield Asset Management LLLP owned approximately 0.16% of Alerus Financial as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in Alerus Financial by 186.1% during the first quarter. Royal Bank of Canada now owns 1,585 shares of the company’s stock worth $47,000 after buying an additional 1,031 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Alerus Financial by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 96,719 shares of the company’s stock worth $2,880,000 after buying an additional 1,158 shares in the last quarter. Brown Advisory Inc. grew its holdings in Alerus Financial by 0.8% during the first quarter. Brown Advisory Inc. now owns 202,535 shares of the company’s stock worth $6,032,000 after buying an additional 1,531 shares in the last quarter. UBS Group AG grew its holdings in Alerus Financial by 67.0% during the first quarter. UBS Group AG now owns 4,836 shares of the company’s stock worth $144,000 after buying an additional 1,941 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Alerus Financial by 6.4% during the first quarter. JPMorgan Chase & Co. now owns 43,602 shares of the company’s stock worth $1,298,000 after buying an additional 2,608 shares in the last quarter. Hedge funds and other institutional investors own 37.05% of the company’s stock.

ALRS stock traded down $1.19 during midday trading on Wednesday, hitting $26.66. The company’s stock had a trading volume of 14,567 shares, compared to its average volume of 25,937. The stock’s 50-day moving average price is $28.69 and its 200 day moving average price is $30.33. The company has a quick ratio of 0.77, a current ratio of 0.80 and a debt-to-equity ratio of 0.17. Alerus Financial Co. has a 1 year low of $17.88 and a 1 year high of $34.70. The stock has a market cap of $458.63 million, a price-to-earnings ratio of 8.66 and a beta of 0.83.

Alerus Financial (NASDAQ:ALRS) last posted its quarterly earnings data on Tuesday, July 27th. The company reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.10. Alerus Financial had a return on equity of 16.52% and a net margin of 21.31%. The business had revenue of $57.89 million for the quarter, compared to analysts’ expectations of $55.25 million. As a group, equities analysts forecast that Alerus Financial Co. will post 2.49 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 8th. Stockholders of record on Friday, September 17th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, September 16th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.40%. Alerus Financial’s dividend payout ratio is presently 25.40%.

Separately, Zacks Investment Research downgraded Alerus Financial from a “buy” rating to a “hold” rating in a report on Wednesday, June 2nd.

Alerus Financial Company Profile

Alerus Financial Corp. engages in the provision of business and consumer financial products and services through its subsidiary, Alerus Financial NA. It operates through the following segments: Banking, Retirement & Benefit Services, Wealth Management, Mortgage, and Corporate Administration. The Banking segment provides lending and deposit products.

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Institutional Ownership by Quarter for Alerus Financial (NASDAQ:ALRS)

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