Geode Capital Management LLC increased its position in shares of Alerus Financial Co. (NASDAQ:ALRS - Free Report) by 26.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 524,195 shares of the company's stock after acquiring an additional 108,123 shares during the quarter. Geode Capital Management LLC owned about 2.07% of Alerus Financial worth $10,088,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp grew its holdings in Alerus Financial by 1.0% in the third quarter. State Street Corp now owns 351,775 shares of the company's stock worth $8,118,000 after purchasing an additional 3,623 shares during the last quarter. Barclays PLC grew its stake in Alerus Financial by 58.8% during the 3rd quarter. Barclays PLC now owns 44,399 shares of the company's stock worth $1,017,000 after buying an additional 16,436 shares during the last quarter. JPMorgan Chase & Co. increased its position in Alerus Financial by 207.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 24,214 shares of the company's stock valued at $554,000 after buying an additional 16,336 shares in the last quarter. SG Americas Securities LLC raised 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 buying an additional 2,590 shares during the last quarter. Finally, Inspire Investing LLC boosted its holdings in 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 acquiring an additional 2,717 shares in the last quarter. Hedge funds and other institutional investors own 51.25% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have commented on ALRS. Raymond James reiterated an "outperform" rating and set a $24.00 price target (up previously from $22.00) on shares of Alerus Financial in a research note on Thursday, January 30th. Piper Sandler upped their target price on Alerus Financial from $21.00 to $24.00 and gave the company a "neutral" rating in a research report on Thursday, January 30th. Finally, DA Davidson reiterated a "neutral" rating and issued a $23.00 price target on shares of Alerus Financial in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $23.40.
Check Out Our Latest Stock Report on ALRS
Alerus Financial Stock Performance
Shares of ALRS stock opened at $17.39 on Wednesday. Alerus Financial Co. has a 52-week low of $15.78 and a 52-week high of $24.41. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15. The stock has a market cap of $443.64 million, a PE ratio of 17.05 and a beta of 0.67. The business has a 50-day simple moving average of $18.56 and a 200-day simple moving average of $20.37.
Alerus Financial (NASDAQ:ALRS - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.44 earnings per share (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, equities analysts expect that Alerus Financial Co. will post 2.14 EPS for the current year.
Alerus Financial Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 14th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.60%. The ex-dividend date of this dividend was Friday, March 14th. 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.
Further Reading
Want to see what other hedge funds are holding ALRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alerus Financial Co. (NASDAQ:ALRS - Free Report).
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