Empowered Funds LLC Has $1.54 Million Holdings in Alerus Financial Co. (NASDAQ:ALRS)

Empowered Funds LLC raised its holdings in Alerus Financial Co. (NASDAQ:ALRS - Free Report) by 70.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 80,184 shares of the company's stock after purchasing an additional 33,247 shares during the period. Empowered Funds LLC owned approximately 0.32% of Alerus Financial worth $1,543,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in Alerus Financial during the third quarter worth approximately $142,000. Sippican Capital Advisors grew its holdings in shares of 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 purchasing an additional 3,665 shares in the last quarter. Stieven Capital Advisors L.P. bought a new position in shares of Alerus Financial in the third quarter worth $5,966,000. Foundry Partners LLC bought a new position in shares of Alerus Financial in the third quarter worth $530,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Alerus Financial by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 149,280 shares of the company's stock valued at $3,416,000 after purchasing an additional 5,184 shares in the last quarter. Institutional investors and hedge funds own 51.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Piper Sandler raised their target price on shares of Alerus Financial from $21.00 to $24.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods upped their target price on Alerus Financial from $22.00 to $23.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Raymond James reissued an "outperform" rating and set a $24.00 price target (up previously from $22.00) on shares of Alerus Financial in a report on Thursday, January 30th. Finally, DA Davidson restated a "neutral" rating and set a $23.00 price objective on shares of Alerus Financial in a research report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $23.40.

Alerus Financial Price Performance

Shares of NASDAQ ALRS traded down $0.47 during midday trading on Wednesday, reaching $21.36. 26,276 shares of the company were exchanged, compared to its average volume of 82,381. The stock's 50-day moving average price is $20.34 and its 200-day moving average price is $21.45. The stock has a market cap of $541.14 million, a P/E ratio of 20.94 and a beta of 0.71. 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 Co. has a one year low of $17.99 and a one year high of $24.41.

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%. On average, sell-side analysts anticipate that Alerus Financial Co. will post 2.14 earnings per share for the current fiscal year.

Alerus Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, December 27th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend was Friday, December 27th. Alerus Financial's dividend payout ratio 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.