Grace & White Inc. NY Makes New Investment in Alerus Financial Co. (NASDAQ:ALRS)

Grace & White Inc. NY acquired a new position in Alerus Financial Co. (NASDAQ:ALRS - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 256,233 shares of the company's stock, valued at approximately $4,930,000. Grace & White Inc. NY owned 1.01% of Alerus Financial at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ALRS. Empowered Funds LLC increased its holdings in Alerus Financial by 70.8% during the fourth quarter. Empowered Funds LLC now owns 80,184 shares of the company's stock valued at $1,543,000 after buying an additional 33,247 shares during the last quarter. Choreo LLC purchased a new stake in shares of Alerus Financial in the 4th quarter worth $2,620,000. Sippican Capital Advisors increased its stake in shares of Alerus Financial by 5.8% in the 4th quarter. Sippican Capital Advisors now owns 85,205 shares of the company's stock worth $1,639,000 after purchasing an additional 4,680 shares in the last quarter. Inspire Investing LLC raised its holdings in Alerus Financial by 14.9% in the 4th quarter. Inspire Investing LLC now owns 20,947 shares of the company's stock worth $403,000 after purchasing an additional 2,717 shares during the period. Finally, SG Americas Securities LLC lifted its position in Alerus Financial by 41.6% during 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 in the last quarter. Hedge funds and other institutional investors own 51.25% of the company's stock.

Alerus Financial Price Performance

NASDAQ ALRS traded down $0.06 during trading hours on Friday, reaching $21.42. The company's stock had a trading volume of 39,000 shares, compared to its average volume of 90,254. Alerus Financial Co. has a 1 year low of $17.99 and a 1 year 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 company has a market capitalization of $542.78 million, a price-to-earnings ratio of 21.00 and a beta of 0.71. The firm's 50-day moving average price is $20.36 and its 200-day moving average price is $21.45.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last released its earnings results on Tuesday, January 28th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.28 by $0.16. Alerus Financial had a net margin of 6.26% and a return on equity of 7.66%. On average, equities research analysts predict that Alerus Financial Co. will post 2.14 EPS for the current fiscal year.

Alerus Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, December 27th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend was Friday, December 27th. Alerus Financial's dividend payout ratio (DPR) is presently 78.43%.

Wall Street Analysts Forecast Growth

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

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.