Banc Funds Co. LLC Trims Stock Holdings in Alerus Financial Co. (NASDAQ:ALRS)

Banc Funds Co. LLC reduced its holdings in shares of Alerus Financial Co. (NASDAQ:ALRS - Free Report) by 6.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 510,299 shares of the company's stock after selling 33,287 shares during the period. Banc Funds Co. LLC owned about 2.01% of Alerus Financial worth $9,818,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Legal & General Group Plc grew its holdings in shares of Alerus Financial by 32.7% in the fourth quarter. Legal & General Group Plc now owns 2,025 shares of the company's stock worth $39,000 after purchasing an additional 499 shares during the last quarter. Summit Investment Advisors Inc. increased its position in shares of Alerus Financial by 31.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,349 shares of the company's stock worth $45,000 after acquiring an additional 568 shares during the period. New York State Common Retirement Fund raised its stake in shares of Alerus Financial by 41.7% during 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 grew its stake 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 in the last quarter. Finally, ExodusPoint Capital Management LP purchased a new position in Alerus Financial during the 4th quarter worth $204,000. Institutional investors own 51.25% of the company's stock.

Analyst Ratings Changes

ALRS has been the topic of a number of recent research reports. Piper Sandler increased their price target on Alerus Financial from $21.00 to $24.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. Raymond James reaffirmed an "outperform" rating and issued a $24.00 price target (up previously from $22.00) on shares of Alerus Financial in a research report on Thursday, January 30th. Finally, DA Davidson reissued a "neutral" rating and issued a $23.00 price objective on shares of Alerus Financial in a research note on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $23.40.

Alerus Financial Stock Up 3.0 %

Shares of NASDAQ:ALRS traded up $0.50 during trading on Tuesday, reaching $17.24. The stock had a trading volume of 20,220 shares, compared to its average volume of 72,618. The firm's 50-day simple moving average is $18.64 and its 200 day simple moving average is $20.40. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. Alerus Financial Co. has a one year low of $15.78 and a one year high of $24.41. The company has a market capitalization of $439.73 million, a P/E ratio of 16.92 and a beta of 0.67.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last released its quarterly 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 net margin of 6.26% and a return on equity of 7.66%. As a group, research analysts expect that Alerus Financial Co. will post 2.14 EPS for the current fiscal year.

Alerus Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 14th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 4.64%. Alerus Financial's dividend payout ratio (DPR) is currently 78.43%.

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.