Alerus Financial Co. (NASDAQ:ALRS) Stock Holdings Increased by Squarepoint Ops LLC

Squarepoint Ops LLC increased its stake in Alerus Financial Co. (NASDAQ:ALRS - Free Report) by 191.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,839 shares of the company's stock after buying an additional 30,750 shares during the quarter. Squarepoint Ops LLC owned about 0.24% of Alerus Financial worth $919,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Federated Hermes Inc. grew its position in Alerus Financial by 380.7% in the second quarter. Federated Hermes Inc. now owns 1,519 shares of the company's stock valued at $30,000 after acquiring an additional 1,203 shares in the last quarter. ICA Group Wealth Management LLC purchased a new stake in Alerus Financial during the 4th quarter worth $81,000. Bailard Inc. acquired a new position in Alerus Financial in the 2nd quarter worth $265,000. Acadian Asset Management LLC grew its stake in shares of Alerus Financial by 4,147.8% during the first quarter. Acadian Asset Management LLC now owns 26,294 shares of the company's stock valued at $573,000 after acquiring an additional 25,675 shares in the last quarter. Finally, Cetera Advisors LLC purchased a new stake in shares of Alerus Financial during the first quarter worth about $638,000. 51.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods increased their price target on Alerus Financial from $22.00 to $23.00 and gave the company a "market perform" rating in a report on Monday, July 29th. DA Davidson raised their price target on shares of Alerus Financial from $20.00 to $23.00 and gave the stock a "neutral" rating in a research report on Thursday, August 1st. Raymond James upgraded shares of Alerus Financial from a "market perform" rating to an "outperform" rating and set a $24.00 price target for the company in a research note on Tuesday, September 17th. Finally, Piper Sandler increased their price objective on shares of Alerus Financial from $22.50 to $24.00 and gave the company a "neutral" rating in a research note on Monday, July 29th. Three 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 presently has a consensus rating of "Hold" and a consensus price target of $23.40.

Alerus Financial Stock Performance

Shares of ALRS traded up $0.10 during mid-day trading on Monday, hitting $22.79. The stock had a trading volume of 51,377 shares, compared to its average volume of 50,154. Alerus Financial Co. has a fifty-two week low of $16.80 and a fifty-two week high of $25.85. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.16. The company has a market cap of $450.72 million, a PE ratio of 46.51 and a beta of 0.66. The company's fifty day simple moving average is $21.70 and its two-hundred day simple moving average is $20.63.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last released its earnings results on Wednesday, July 24th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.06). Alerus Financial had a net margin of 2.39% and a return on equity of 7.25%. The business had revenue of $80.39 million for the quarter, compared to the consensus estimate of $49.20 million. During the same quarter in the previous year, the firm earned $0.45 EPS. On average, equities analysts expect that Alerus Financial Co. will post 1.21 earnings per share for the current year.

Alerus Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 13th will be issued a $0.20 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.80 dividend on an annualized basis and a yield of 3.51%. Alerus Financial's dividend payout ratio is currently 163.27%.

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.