Choreo LLC Acquires Shares of 134,770 Alerus Financial Co. (NASDAQ:ALRS)

Choreo LLC acquired a new position in shares of Alerus Financial Co. (NASDAQ:ALRS - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 134,770 shares of the company's stock, valued at approximately $2,620,000. Choreo LLC owned approximately 0.53% of Alerus Financial as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of Alerus Financial in the 3rd quarter valued at about $142,000. Inspire Investing LLC acquired a new stake in Alerus Financial during the 3rd quarter worth approximately $417,000. Sippican Capital Advisors lifted its position in Alerus Financial by 4.8% during the 3rd quarter. Sippican Capital Advisors now owns 80,525 shares of the company's stock worth $1,842,000 after acquiring an additional 3,665 shares during the period. Empowered Funds LLC lifted its position in Alerus Financial by 5.1% during the 3rd quarter. Empowered Funds LLC now owns 46,937 shares of the company's stock worth $1,074,000 after acquiring an additional 2,278 shares during the period. Finally, Stieven Capital Advisors L.P. acquired a new stake in Alerus Financial during the 3rd quarter worth approximately $5,966,000. 51.25% of the stock is owned by institutional investors and hedge funds.

Alerus Financial Price Performance

NASDAQ ALRS traded down $0.13 during mid-day trading on Monday, hitting $21.49. The stock had a trading volume of 28,878 shares, compared to its average volume of 86,211. Alerus Financial Co. has a 52-week low of $17.99 and a 52-week high of $24.41. The company has a market cap of $544.53 million, a price-to-earnings ratio of 21.08 and a beta of 0.71. The company has a 50 day simple moving average of $20.39 and a 200 day simple moving average of $21.47. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.44 earnings per share for the quarter, beating 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 forecast that Alerus Financial Co. will post 2.14 EPS for the current fiscal year.

Alerus Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, December 27th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend was Friday, December 27th. Alerus Financial's payout ratio is currently 78.43%.

Analyst Ratings Changes

A number of research firms have weighed in on ALRS. DA Davidson reaffirmed a "neutral" rating and set a $23.00 price objective on shares of Alerus Financial in a research report on Thursday, January 30th. Keefe, Bruyette & Woods increased their price objective on Alerus Financial from $22.00 to $23.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Raymond James reissued an "outperform" rating and set a $24.00 target price (up from $22.00) on shares of Alerus Financial in a research note on Thursday, January 30th. Finally, Piper Sandler increased their target price on Alerus Financial from $21.00 to $24.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $23.40.

Alerus Financial Company 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.