Charles Schwab Investment Management Inc. increased its position in Alerus Financial Co. (NASDAQ:ALRS - Free Report) by 26.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 188,967 shares of the company's stock after purchasing an additional 39,687 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.75% of Alerus Financial worth $3,636,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of ALRS. New York State Common Retirement Fund increased its position in 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 worth $124,000 after buying an additional 1,900 shares during the last quarter. SG Americas Securities LLC raised its stake 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 acquiring an additional 2,590 shares during the period. Harbor Advisors LLC bought a new stake in Alerus Financial in the 3rd quarter valued at $226,000. Proficio Capital Partners LLC acquired a new stake in Alerus Financial during the 4th quarter valued at $381,000. Finally, Inspire Investing LLC boosted its position in Alerus Financial by 14.9% during the fourth quarter. Inspire Investing LLC now owns 20,947 shares of the company's stock worth $403,000 after purchasing an additional 2,717 shares during the period. 51.25% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on ALRS. Raymond James restated an "outperform" rating and set a $24.00 target price (up previously from $22.00) on shares of Alerus Financial in a research note on Thursday, January 30th. Keefe, Bruyette & Woods boosted their price objective on Alerus Financial from $22.00 to $23.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. DA Davidson reiterated a "neutral" rating and set a $23.00 target price on shares of Alerus Financial in a research note on Thursday, January 30th. Finally, Piper Sandler boosted their price target on Alerus Financial from $21.00 to $24.00 and gave the company a "neutral" rating in a research note on Thursday, January 30th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Alerus Financial currently has an average rating of "Hold" and a consensus price target of $23.40.
View Our Latest Stock Report on ALRS
Alerus Financial Price Performance
Shares of ALRS stock traded down $0.40 during trading on Friday, hitting $18.30. The company had a trading volume of 38,975 shares, compared to its average volume of 69,389. The firm has a market capitalization of $466.85 million, a P/E ratio of 17.94 and a beta of 0.74. Alerus Financial Co. has a one year low of $17.95 and a one year high of $24.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.85 and a current ratio of 0.85. The stock's 50-day moving average price is $20.09 and its 200 day moving average price is $21.03.
Alerus Financial (NASDAQ:ALRS - Get Free Report) last released 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%. Equities analysts expect that Alerus Financial Co. will post 2.14 EPS for the current fiscal year.
Alerus Financial Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors 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 annualized dividend and a dividend yield of 4.37%. Alerus Financial's dividend payout ratio is 78.43%.
About Alerus Financial
(
Free Report)
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.
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