Geode Capital Management LLC raised its position in Alerus Financial Co. (NASDAQ:ALRS – Free Report) by 4.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 416,072 shares of the company’s stock after buying an additional 15,966 shares during the quarter. Geode Capital Management LLC’s holdings in Alerus Financial were worth $9,522,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of ALRS. State Street Corp boosted its holdings in shares of Alerus Financial by 1.0% in the third quarter. State Street Corp now owns 351,775 shares of the company’s stock valued at $8,118,000 after acquiring an additional 3,623 shares in the last quarter. Endeavour Capital Advisors Inc. lifted its position in Alerus Financial by 34.0% in the second quarter. Endeavour Capital Advisors Inc. now owns 288,876 shares of the company’s stock valued at $5,665,000 after purchasing an additional 73,342 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Alerus Financial by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 274,615 shares of the company’s stock valued at $5,384,000 after purchasing an additional 7,300 shares in the last quarter. Stieven Capital Advisors L.P. acquired a new position in Alerus Financial during the 3rd quarter worth approximately $5,966,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Alerus Financial by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 149,280 shares of the company’s stock worth $3,416,000 after buying an additional 5,184 shares in the last quarter. Hedge funds and other institutional investors own 51.25% of the company’s stock.
Alerus Financial Stock Performance
Shares of ALRS stock opened at $19.24 on Thursday. The stock has a fifty day moving average price of $21.48 and a 200 day moving average price of $21.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $487.50 million, a PE ratio of 120.26 and a beta of 0.69. Alerus Financial Co. has a 1 year low of $18.09 and a 1 year high of $25.85.
Alerus Financial (NASDAQ:ALRS – Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.18). The firm had revenue of $80.58 million for the quarter, compared to analyst estimates of $52.30 million. Alerus Financial had a return on equity of 6.02% and a net margin of 1.01%. During the same period last year, the firm earned $0.45 EPS. Sell-side analysts forecast that Alerus Financial Co. will post 0.97 earnings per share for the current fiscal year.
Alerus Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, December 27th will be given a $0.20 dividend. The ex-dividend date is Friday, December 27th. This represents a $0.80 annualized dividend and a dividend yield of 4.16%. Alerus Financial’s dividend payout ratio is presently 500.00%.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on ALRS shares. Raymond James upgraded Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price target on the stock in a research note on Tuesday, September 17th. Keefe, Bruyette & Woods boosted their target price on shares of Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler cut their price target on shares of Alerus Financial from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Three investment 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 stock has a consensus rating of “Hold” and a consensus target price of $23.20.
Check Out Our Latest Research Report on Alerus Financial
About Alerus Financial
(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.
See Also
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