Fortress Financial Group LLC Takes Position in Alerus Financial Co. (NASDAQ:ALRS)

Fortress Financial Group LLC purchased a new stake in Alerus Financial Co. (NASDAQ:ALRS) during the 4th quarter, HoldingsChannel reports. The firm purchased 85,119 shares of the company’s stock, valued at approximately $1,638,000. Alerus Financial accounts for about 1.6% of Fortress Financial Group LLC’s portfolio, making the stock its 16th biggest position.

A number of other large investors also recently modified their holdings of the business. New York State Common Retirement Fund raised its holdings in Alerus Financial by 41.7% in the 4th quarter. New York State Common Retirement Fund now owns 6,451 shares of the company’s stock valued at $124,000 after acquiring an additional 1,900 shares in the last quarter. SG Americas Securities LLC lifted 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 period. Harbor Advisors LLC bought a new position in Alerus Financial in the third quarter worth $226,000. Proficio Capital Partners LLC acquired a new stake in Alerus Financial during the fourth quarter worth $381,000. Finally, Inspire Investing LLC lifted its holdings in shares of Alerus Financial by 14.9% during 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 period. 51.25% of the stock is currently owned by institutional investors and hedge funds.

Alerus Financial Price Performance

ALRS opened at $20.27 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.85 and a quick ratio of 0.85. The company’s 50 day simple moving average is $20.26 and its 200-day simple moving average is $21.45. Alerus Financial Co. has a one year low of $17.99 and a one year high of $24.41. The stock has a market capitalization of $513.64 million, a P/E ratio of 19.87 and a beta of 0.71.

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

Alerus Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 14th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 3.95%. Alerus Financial’s dividend payout ratio is currently 78.43%.

Analyst Ratings Changes

A number of research analysts have commented on ALRS shares. Keefe, Bruyette & Woods raised their price target on shares of Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. DA Davidson reissued a “neutral” rating and set a $23.00 price objective on shares of Alerus Financial in a report on Thursday, January 30th. Raymond James reissued an “outperform” rating and set a $24.00 price target (up from $22.00) on shares of Alerus Financial in a report on Thursday, January 30th. Finally, Piper Sandler upped their price objective on shares of Alerus Financial from $21.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Alerus Financial presently has an average rating of “Hold” and an average target price 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.