Endeavour Capital Advisors Inc. Acquires 229,932 Shares of Alerus Financial Co. (NASDAQ:ALRS)

Endeavour Capital Advisors Inc. boosted its holdings in shares of Alerus Financial Co. (NASDAQ:ALRS - Free Report) by 77.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 527,283 shares of the company's stock after purchasing an additional 229,932 shares during the quarter. Alerus Financial makes up 3.2% of Endeavour Capital Advisors Inc.'s holdings, making the stock its 10th largest position. Endeavour Capital Advisors Inc. owned about 2.08% of Alerus Financial worth $10,145,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. New York State Common Retirement Fund lifted its position in shares of Alerus Financial by 41.7% in the fourth 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 holdings in Alerus Financial by 41.6% in the 4th quarter. SG Americas Securities LLC now owns 8,812 shares of the company's stock valued at $170,000 after purchasing an additional 2,590 shares in the last quarter. Harbor Advisors LLC acquired a new stake in Alerus Financial during the 3rd quarter worth $226,000. Corebridge Financial Inc. boosted its stake in Alerus Financial by 17.1% during the 4th quarter. Corebridge Financial Inc. now owns 11,164 shares of the company's stock worth $215,000 after purchasing an additional 1,628 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Alerus Financial during the fourth quarter worth $234,000. 51.25% of the stock is owned by institutional investors and hedge funds.

Alerus Financial Trading Down 3.3 %

ALRS traded down $0.57 during trading hours on Friday, reaching $16.60. The company's stock had a trading volume of 148,089 shares, compared to its average volume of 70,615. The business's 50-day moving average is $19.87 and its 200-day moving average is $20.91. 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 stock has a market cap of $423.48 million, a PE ratio of 16.27 and a beta of 0.67. Alerus Financial Co. has a fifty-two week low of $16.15 and a fifty-two week high of $24.41.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last posted its earnings results on Tuesday, January 28th. The company reported $0.44 earnings per share (EPS) for the quarter, topping 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 research analysts predict that Alerus Financial Co. will post 2.14 earnings per share for the current fiscal year.

Alerus Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 14th will be paid a $0.20 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 4.82%. Alerus Financial's dividend payout ratio (DPR) is 78.43%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Raymond James reaffirmed an "outperform" rating and set a $24.00 price objective (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 issued a $23.00 price target on shares of Alerus Financial in a research report on Thursday, January 30th. Finally, Piper Sandler lifted their price objective on Alerus Financial from $21.00 to $24.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $23.40.

Alerus Financial Profile

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.