Dimensional Fund Advisors LP Acquires 56,763 Shares of Alerus Financial $ALRS

Dimensional Fund Advisors LP lifted its holdings in Alerus Financial (NASDAQ:ALRS) by 6.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 886,815 shares of the company’s stock after purchasing an additional 56,763 shares during the quarter. Dimensional Fund Advisors LP owned about 3.53% of Alerus Financial worth $21,027,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Larson Financial Group LLC lifted its stake in Alerus Financial by 50.0% in the fourth quarter. Larson Financial Group LLC now owns 1,500 shares of the company’s stock valued at $34,000 after buying an additional 500 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Alerus Financial by 90.1% in the second quarter. NewEdge Advisors LLC now owns 1,544 shares of the company’s stock valued at $33,000 after buying an additional 732 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of Alerus Financial by 25.7% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,222 shares of the company’s stock worth $50,000 after acquiring an additional 455 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new stake in shares of Alerus Financial during the third quarter worth $52,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Alerus Financial by 172.7% during the second quarter. Tower Research Capital LLC TRC now owns 3,371 shares of the company’s stock worth $73,000 after acquiring an additional 2,135 shares during the period. 51.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ALRS shares. Piper Sandler upped their target price on shares of Alerus Financial from $32.00 to $37.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Zacks Research raised Alerus Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Weiss Ratings restated a “buy (b-)” rating on shares of Alerus Financial in a report on Monday. Wall Street Zen cut Alerus Financial from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, DA Davidson set a $36.00 price objective on Alerus Financial in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.50.

Alerus Financial Stock Down 0.5%

Shares of ALRS stock opened at $33.59 on Friday. The firm’s fifty day moving average price is $31.07 and its two-hundred day moving average price is $27.25. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. Alerus Financial has a 1 year low of $20.31 and a 1 year high of $34.40. The firm has a market capitalization of $836.39 million, a P/E ratio of 31.69 and a beta of 0.68.

Alerus Financial (NASDAQ:ALRS) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The company had revenue of $80.00 million during the quarter, compared to the consensus estimate of $76.99 million. Alerus Financial had a net margin of 6.87% and a return on equity of 14.41%. On average, equities analysts predict that Alerus Financial will post 3.03 EPS for the current fiscal year.

Alerus Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were paid a $0.22 dividend. This is a positive change from Alerus Financial’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Friday, June 26th. Alerus Financial’s dividend payout ratio is 83.02%.

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.