Charles Schwab Investment Management Inc. increased its stake in Alerus Financial Co. (NASDAQ:ALRS - Free Report) by 26.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 188,967 shares of the company's stock after purchasing an additional 39,687 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.75% of Alerus Financial worth $3,636,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in the company. New York State Common Retirement Fund boosted its position 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 worth $124,000 after buying an additional 1,900 shares during the period. SG Americas Securities LLC boosted its position in Alerus Financial by 41.6% during the 4th quarter. SG Americas Securities LLC now owns 8,812 shares of the company's stock worth $170,000 after acquiring an additional 2,590 shares during the last quarter. Harbor Advisors LLC bought a new position in shares of Alerus Financial during the 3rd quarter worth approximately $226,000. Proficio Capital Partners LLC acquired a new stake in shares of Alerus Financial in the fourth quarter valued at approximately $381,000. Finally, Inspire Investing LLC lifted its position in shares of Alerus Financial by 14.9% in 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 in the last quarter. Institutional investors own 51.25% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on ALRS shares. DA Davidson reiterated a "neutral" rating and issued a $23.00 price target on shares of Alerus Financial in a research note on Thursday, January 30th. Raymond James reiterated an "outperform" rating and set a $24.00 target price (up previously from $22.00) on shares of Alerus Financial in a report on Thursday, January 30th. Keefe, Bruyette & Woods increased their price target on Alerus Financial from $22.00 to $23.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Finally, Piper Sandler boosted 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. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $23.40.
Read Our Latest Stock Analysis on ALRS
Alerus Financial Stock Performance
Shares of ALRS traded down $0.40 during mid-day trading on Friday, reaching $18.30. The company's stock had a trading volume of 38,975 shares, compared to its average volume of 69,389. 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 1-year low of $17.95 and a 1-year high of $24.41. The business has a 50-day simple moving average of $20.09 and a two-hundred day simple moving average of $21.03. The stock has a market cap of $466.85 million, a P/E ratio of 17.94 and a beta of 0.74.
Alerus Financial (NASDAQ:ALRS - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.44 EPS 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%. As a group, equities research analysts anticipate that Alerus Financial Co. will post 2.14 earnings per share for the current fiscal year.
Alerus Financial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 14th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 4.37%. Alerus Financial's dividend payout ratio is currently 78.43%.
Alerus Financial Profile
(
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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