Alerus Financial Co. (NASDAQ:ALRS) Stock Position Lifted by Foundry Partners LLC

Foundry Partners LLC increased its stake in shares of Alerus Financial Co. (NASDAQ:ALRS - Free Report) by 753.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 197,570 shares of the company's stock after purchasing an additional 174,410 shares during the quarter. Foundry Partners LLC owned approximately 0.78% of Alerus Financial worth $3,801,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New York State Common Retirement Fund grew its stake in Alerus Financial by 41.7% in the 4th quarter. New York State Common Retirement Fund now owns 6,451 shares of the company's stock worth $124,000 after acquiring an additional 1,900 shares during the period. SG Americas Securities LLC increased 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 valued at $170,000 after purchasing an additional 2,590 shares during the last quarter. ExodusPoint Capital Management LP acquired a new stake in Alerus Financial in the 4th quarter worth about $204,000. Corebridge Financial Inc. grew its holdings in Alerus Financial by 17.1% in the fourth quarter. Corebridge Financial Inc. now owns 11,164 shares of the company's stock valued at $215,000 after purchasing an additional 1,628 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Alerus Financial during the 4th quarter worth $234,000. 51.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ALRS. Piper Sandler boosted their price objective on shares of Alerus Financial from $21.00 to $24.00 and gave the stock a "neutral" rating in a research note on Thursday, January 30th. Raymond James reaffirmed an "outperform" rating and set a $24.00 price target (up 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 report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $23.40.

Alerus Financial Stock Down 3.6 %

Alerus Financial stock traded down $0.61 during midday trading on Thursday, hitting $16.27. 16,717 shares of the stock were exchanged, compared to its average volume of 71,709. The company has a 50 day moving average price of $19.45 and a two-hundred day moving average price of $20.72. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market cap of $415.06 million, a P/E ratio of 15.78 and a beta of 0.67. Alerus Financial Co. has a 1 year low of $15.83 and a 1 year high of $24.41.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates 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 predict 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. Investors 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 4.92%. Alerus Financial's dividend payout ratio is presently 78.43%.

Alerus Financial 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.