Alerus Financial Co. (NASDAQ:ALRS) Shares Bought by Alerus Financial NA

Alerus Financial NA lifted its stake in shares of Alerus Financial Co. (NASDAQ:ALRS) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,130,638 shares of the company’s stock after purchasing an additional 5,915 shares during the quarter. Alerus Financial comprises about 3.1% of Alerus Financial NA’s investment portfolio, making the stock its 8th largest position. Alerus Financial NA owned approximately 8.41% of Alerus Financial worth $40,993,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in shares of Alerus Financial by 239.4% in the fourth quarter. JPMorgan Chase & Co. now owns 82,194 shares of the company’s stock valued at $1,581,000 after buying an additional 57,980 shares during the last quarter. Corebridge Financial Inc. grew its holdings in Alerus Financial by 17.1% in the 4th quarter. Corebridge Financial Inc. now owns 11,164 shares of the company’s stock valued at $215,000 after buying an additional 1,628 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Alerus Financial by 11.2% during the 4th quarter. Vanguard Group Inc. now owns 1,054,829 shares of the company’s stock worth $20,295,000 after acquiring an additional 106,116 shares during the period. Proficio Capital Partners LLC purchased a new stake in Alerus Financial in the fourth quarter valued at approximately $381,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Alerus Financial by 26.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 188,967 shares of the company’s stock valued at $3,636,000 after purchasing an additional 39,687 shares during the last quarter. Institutional investors and hedge funds own 51.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ALRS shares. Piper Sandler increased their target price on shares of Alerus Financial from $21.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Keefe, Bruyette & Woods raised their price objective on Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Raymond James reiterated an “outperform” rating and issued a $24.00 target price (up previously from $22.00) on shares of Alerus Financial in a research note on Thursday, January 30th. Finally, DA Davidson restated a “neutral” rating and issued a $23.00 price target on shares of Alerus Financial in a report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.40.

Alerus Financial Price Performance

NASDAQ ALRS opened at $18.70 on Friday. The business’s fifty day moving average is $20.12 and its two-hundred day moving average is $21.06. The stock has a market capitalization of $477.06 million, a P/E ratio of 18.33 and a beta of 0.74. Alerus Financial Co. has a 1 year low of $17.95 and a 1 year high of $24.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.85 and a current ratio of 0.85.

Alerus Financial (NASDAQ:ALRS) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.16. Alerus Financial had a net margin of 6.26% and a return on equity of 7.66%. On average, research analysts forecast that Alerus Financial Co. will post 2.14 earnings per share for the current fiscal year.

Alerus Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 14th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date is Friday, March 14th. Alerus Financial’s dividend payout ratio is presently 78.43%.

Alerus Financial Profile

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.