48,999 Shares in Alerus Financial Co. (NASDAQ:ALRS) Bought by Pinnacle Holdings LLC

Pinnacle Holdings LLC purchased a new stake in shares of Alerus Financial Co. (NASDAQ:ALRS - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 48,999 shares of the company's stock, valued at approximately $943,000. Pinnacle Holdings LLC owned about 0.19% of Alerus Financial at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ALRS. Legal & General Group Plc boosted its stake in shares of Alerus Financial by 32.7% during the 4th quarter. Legal & General Group Plc now owns 2,025 shares of the company's stock valued at $39,000 after purchasing an additional 499 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of Alerus Financial by 41.7% during the fourth quarter. New York State Common Retirement Fund now owns 6,451 shares of the company's stock valued at $124,000 after purchasing an additional 1,900 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Alerus Financial by 41.6% in the fourth quarter. SG Americas Securities LLC now owns 8,812 shares of the company's stock worth $170,000 after purchasing an additional 2,590 shares during the last quarter. ExodusPoint Capital Management LP purchased a new position in shares of Alerus Financial during the fourth quarter valued at approximately $204,000. Finally, Corebridge Financial Inc. boosted 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 worth $215,000 after purchasing an additional 1,628 shares during the last quarter. 51.25% of the stock is owned by hedge funds and other institutional investors.

Alerus Financial Trading Down 0.6 %

ALRS stock traded down $0.10 during mid-day trading on Monday, reaching $16.01. 21,168 shares of the stock traded hands, compared to its average volume of 72,244. The business has a 50-day moving average price of $19.24 and a two-hundred day moving average price of $20.63. The stock has a market capitalization of $408.43 million, a PE ratio of 15.70 and a beta of 0.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.85 and a current ratio of 0.85. Alerus Financial Co. has a one year low of $15.78 and a one year high of $24.41.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.44 earnings per share (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%. Equities research analysts expect that Alerus Financial Co. will post 2.14 EPS for the current year.

Alerus Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 14th were issued a $0.20 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 5.00%. Alerus Financial's dividend payout ratio is presently 78.43%.

Analyst Ratings Changes

Several analysts recently commented on ALRS shares. Raymond James reaffirmed an "outperform" rating and issued a $24.00 price objective (up previously from $22.00) on shares of Alerus Financial in a report on Thursday, January 30th. Piper Sandler upped their target price on shares of Alerus Financial from $21.00 to $24.00 and gave the company a "neutral" rating in a report on Thursday, January 30th. Finally, DA Davidson restated a "neutral" rating and issued a $23.00 price objective on shares of Alerus Financial in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $23.40.

About Alerus Financial

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.