Fortress Financial Group LLC Purchases Shares of 85,119 Alerus Financial Co. (NASDAQ:ALRS)

Fortress Financial Group LLC purchased a new position in shares of Alerus Financial Co. (NASDAQ:ALRS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 85,119 shares of the company’s stock, valued at approximately $1,638,000. Alerus Financial makes up about 1.6% of Fortress Financial Group LLC’s portfolio, making the stock its 16th biggest holding. Fortress Financial Group LLC owned 0.34% of Alerus Financial at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. New York State Common Retirement Fund boosted its position in Alerus Financial by 41.7% during the 4th quarter. New York State Common Retirement Fund now owns 6,451 shares of the company’s stock worth $124,000 after buying an additional 1,900 shares during the period. SG Americas Securities LLC boosted its position in Alerus Financial by 41.6% in the fourth quarter. SG Americas Securities LLC now owns 8,812 shares of the company’s stock worth $170,000 after purchasing an additional 2,590 shares during the last quarter. Harbor Advisors LLC bought a new stake in Alerus Financial in the third quarter worth about $226,000. Proficio Capital Partners LLC bought a new position in Alerus Financial during the fourth quarter valued at $381,000. Finally, Inspire Investing LLC increased its holdings in Alerus Financial by 14.9% in the 4th quarter. Inspire Investing LLC now owns 20,947 shares of the company’s stock worth $403,000 after acquiring an additional 2,717 shares during the last quarter. Institutional investors own 51.25% of the company’s stock.

Alerus Financial Trading Down 0.7 %

NASDAQ ALRS opened at $20.27 on Friday. The stock’s fifty day moving average price is $20.26 and its 200-day moving average price is $21.45. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. The stock has a market cap of $513.64 million, a P/E ratio of 19.87 and a beta of 0.71. Alerus Financial Co. has a 12 month low of $17.99 and a 12 month high of $24.41.

Alerus Financial (NASDAQ:ALRS) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.28 by $0.16. Alerus Financial had a return on equity of 7.66% and a net margin of 6.26%. As a group, equities analysts forecast that Alerus Financial Co. will post 2.14 EPS for the current fiscal year.

Alerus Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.95%. The ex-dividend date is Friday, March 14th. Alerus Financial’s dividend payout ratio (DPR) is presently 78.43%.

Wall Street Analyst Weigh In

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

About Alerus Financial

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.