FJ Capital Management LLC Acquires Shares of 67,134 Alerus Financial $ALRS

FJ Capital Management LLC purchased a new stake in Alerus Financial (NASDAQ:ALRS) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 67,134 shares of the company’s stock, valued at approximately $1,512,000.

A number of other large investors have also recently modified their holdings of ALRS. Larson Financial Group LLC increased its position in Alerus Financial by 50.0% during the 4th quarter. Larson Financial Group LLC now owns 1,500 shares of the company’s stock worth $34,000 after purchasing an additional 500 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in 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 grew its stake in 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 purchasing an additional 455 shares during the period. CIBC Private Wealth Group LLC acquired a new stake in shares of Alerus Financial during the 3rd quarter worth approximately $52,000. Finally, AlphaQuest LLC bought a new stake in Alerus Financial in the third quarter valued at $59,000. Institutional investors and hedge funds own 51.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ALRS shares. Weiss Ratings upgraded Alerus Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Wall Street Zen raised Alerus Financial from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. DA Davidson raised their price objective on shares of Alerus Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Piper Sandler lifted their target price on Alerus Financial from $28.00 to $28.50 and gave the company a “neutral” rating in a report on Friday, May 1st. Finally, Keefe, Bruyette & Woods increased their price objective on Alerus Financial from $25.00 to $27.00 and gave the stock a “market perform” rating in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $28.38.

Alerus Financial Stock Performance

Shares of ALRS opened at $30.30 on Friday. Alerus Financial has a one year low of $20.26 and a one year high of $30.45. The firm has a market capitalization of $761.44 million, a PE ratio of 29.42 and a beta of 0.69. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90. The company has a 50-day simple moving average of $26.90 and a two-hundred day simple moving average of $24.79.

Alerus Financial (NASDAQ:ALRS) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.58 by $0.31. Alerus Financial had a net margin of 6.74% and a return on equity of 14.39%. The business had revenue of $75.78 million for the quarter, compared to analyst estimates of $73.78 million. On average, analysts anticipate that Alerus Financial will post 2.95 EPS for the current fiscal year.

Alerus Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be given a $0.22 dividend. This is a boost from Alerus Financial’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, June 26th. This represents a $0.88 annualized dividend and a yield of 2.9%. Alerus Financial’s payout ratio is currently 81.55%.

Alerus Financial Company 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.