JPMorgan Chase & Co. grew its position in shares of Alerus Financial Co. (NASDAQ:ALRS - Free Report) by 207.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,214 shares of the company's stock after buying an additional 16,336 shares during the quarter. JPMorgan Chase & Co. owned 0.10% of Alerus Financial worth $554,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in ALRS. Stieven Capital Advisors L.P. purchased a new stake in Alerus Financial during the 3rd quarter valued at $5,966,000. Squarepoint Ops LLC boosted its position in shares of Alerus Financial by 191.1% during the second quarter. Squarepoint Ops LLC now owns 46,839 shares of the company's stock valued at $919,000 after buying an additional 30,750 shares during the last quarter. Foundry Partners LLC bought a new stake in Alerus Financial in the 3rd quarter worth about $530,000. Walleye Capital LLC purchased a new position in Alerus Financial in the 3rd quarter worth about $424,000. Finally, Inspire Investing LLC bought a new position in Alerus Financial during the 3rd quarter valued at about $417,000. Institutional investors own 51.25% of the company's stock.
Alerus Financial Stock Performance
Shares of NASDAQ:ALRS traded down $0.21 during midday trading on Friday, hitting $21.16. The company had a trading volume of 51,101 shares, compared to its average volume of 89,451. The company has a market cap of $536.19 million, a price-to-earnings ratio of 20.73 and a beta of 0.71. 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 company has a fifty day moving average of $20.44 and a two-hundred day moving average of $21.48. Alerus Financial Co. has a 12-month low of $17.99 and a 12-month high of $24.69.
Alerus Financial (NASDAQ:ALRS - Get Free Report) last posted its quarterly earnings data 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 return on equity of 7.66% and a net margin of 6.26%. On average, equities research analysts expect that Alerus Financial Co. will post 1.96 EPS for the current fiscal year.
Alerus Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, December 27th were given a $0.20 dividend. The ex-dividend date was Friday, December 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.78%. Alerus Financial's payout ratio is currently 78.43%.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on ALRS shares. DA Davidson reissued a "neutral" rating and set a $23.00 price objective on shares of Alerus Financial in a report on Thursday. Raymond James reiterated 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. Piper Sandler lifted their price objective on Alerus Financial from $21.00 to $24.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, Keefe, Bruyette & Woods increased their target price on Alerus Financial from $22.00 to $23.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $23.40.
View Our Latest Research Report on ALRS
Alerus Financial Company Profile
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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.
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