Alerus Financial NA Has $40.99 Million Stake in Alerus Financial Co. (NASDAQ:ALRS)

Alerus Financial NA lifted its position in shares of Alerus Financial Co. (NASDAQ:ALRS) by 0.3% during the fourth quarter, HoldingsChannel reports. The firm owned 2,130,638 shares of the company’s stock after buying an additional 5,915 shares during the quarter. Alerus Financial comprises 3.1% of Alerus Financial NA’s portfolio, making the stock its 8th largest holding. Alerus Financial NA owned approximately 0.08% of Alerus Financial worth $40,993,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. New York State Common Retirement Fund increased its position in shares of 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 purchasing an additional 1,900 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Alerus Financial by 41.6% in the fourth quarter. SG Americas Securities LLC now owns 8,812 shares of the company’s stock valued at $170,000 after acquiring an additional 2,590 shares during the period. Corebridge Financial Inc. increased its position in Alerus Financial by 17.1% during the fourth quarter. Corebridge Financial Inc. now owns 11,164 shares of the company’s stock worth $215,000 after acquiring an additional 1,628 shares during the period. Harbor Advisors LLC acquired a new position in shares of Alerus Financial during the 3rd quarter worth approximately $226,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Alerus Financial during the fourth quarter worth approximately $381,000. Institutional investors own 51.25% of the company’s stock.

Alerus Financial Price Performance

ALRS stock opened at $18.70 on Friday. The business has a 50-day simple moving average of $20.12 and a two-hundred day simple moving average of $21.06. The company has a market capitalization of $477.06 million, a P/E ratio of 18.33 and a beta of 0.74. 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 Co. has a 52-week low of $17.95 and a 52-week high of $24.41.

Alerus Financial (NASDAQ:ALRS) last issued 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 net margin of 6.26% and a return on equity of 7.66%. Research analysts expect 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 given a dividend of $0.20 per share. The ex-dividend date is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 4.28%. Alerus Financial’s payout ratio is 78.43%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ALRS shares. DA Davidson reaffirmed a “neutral” rating and issued a $23.00 price objective on shares of Alerus Financial in a report on Thursday, January 30th. Raymond James reiterated an “outperform” rating and set a $24.00 price target (up previously from $22.00) on shares of Alerus Financial in a research report on Thursday, January 30th. Piper Sandler raised their target price on Alerus Financial from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods boosted their target price on Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a research note 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 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.