Proficio Capital Partners LLC Acquires New Holdings in Alerus Financial Co. (NASDAQ:ALRS)

Proficio Capital Partners LLC bought a new position in Alerus Financial Co. (NASDAQ:ALRS - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 19,798 shares of the company's stock, valued at approximately $381,000. Proficio Capital Partners LLC owned approximately 0.08% of Alerus Financial at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. New York State Common Retirement Fund raised its holdings 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 during the last quarter. SG Americas Securities LLC raised its stake in Alerus Financial by 41.6% during the 4th 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. Inspire Investing LLC lifted its holdings in shares of Alerus Financial by 14.9% during the 4th quarter. Inspire Investing LLC now owns 20,947 shares of the company's stock valued at $403,000 after buying an additional 2,717 shares during the period. State Street Corp boosted its stake in shares of Alerus Financial by 1.0% in the 3rd quarter. State Street Corp now owns 351,775 shares of the company's stock worth $8,118,000 after buying an additional 3,623 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Alerus Financial by 13.7% in the fourth quarter. Rhumbline Advisers now owns 31,143 shares of the company's stock worth $599,000 after acquiring an additional 3,746 shares during the period. Hedge funds and other institutional investors own 51.25% of the company's stock.

Alerus Financial Trading Down 2.1 %

Shares of NASDAQ:ALRS traded down $0.40 during trading on Friday, reaching $18.30. The company's stock had a trading volume of 38,975 shares, compared to its average volume of 69,389. The firm's 50 day simple moving average is $20.09 and its two-hundred day simple moving average is $21.03. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. Alerus Financial Co. has a 12 month low of $17.95 and a 12 month high of $24.41. The stock has a market capitalization of $466.85 million, a PE ratio of 17.94 and a beta of 0.74.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last announced its earnings results on Tuesday, January 28th. The company reported $0.44 EPS for the quarter, topping 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, research analysts predict that Alerus Financial Co. will post 2.14 EPS for the current fiscal year.

Alerus Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 14th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend is Friday, March 14th. Alerus Financial's payout ratio is currently 78.43%.

Analysts Set New Price Targets

ALRS has been the topic of several research analyst reports. Piper Sandler boosted 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. Raymond James reiterated an "outperform" rating and issued a $24.00 target price (up from $22.00) on shares of Alerus Financial in a research report on Thursday, January 30th. 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 research note on Wednesday, December 4th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus 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.