Geode Capital Management LLC Grows Position in Alerus Financial Co. (NASDAQ:ALRS)

Geode Capital Management LLC raised its position in Alerus Financial Co. (NASDAQ:ALRS) by 4.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 416,072 shares of the company’s stock after acquiring an additional 15,966 shares during the quarter. Geode Capital Management LLC owned approximately 1.64% of Alerus Financial worth $9,522,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Alerus Financial by 1.0% during the 3rd quarter. State Street Corp now owns 351,775 shares of the company’s stock worth $8,118,000 after purchasing an additional 3,623 shares during the last quarter. Endeavour Capital Advisors Inc. raised its stake 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 buying an additional 73,342 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Alerus Financial by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 274,615 shares of the company’s stock worth $5,384,000 after buying an additional 7,300 shares during the last quarter. Stieven Capital Advisors L.P. acquired a new position in shares of Alerus Financial during the 3rd quarter worth about $5,966,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Alerus Financial by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 149,280 shares of the company’s stock valued at $3,416,000 after acquiring an additional 5,184 shares during the last quarter. Institutional investors and hedge funds own 51.25% of the company’s stock.

Analyst Upgrades and Downgrades

ALRS has been the subject of several recent analyst reports. Keefe, Bruyette & Woods boosted their target price on Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Raymond James upgraded shares of Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a research report on Tuesday, September 17th. Finally, Piper Sandler dropped their target price on shares of Alerus Financial from $24.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.20.

Alerus Financial Trading Up 1.1 %

ALRS opened at $19.24 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15. Alerus Financial Co. has a 52 week low of $18.09 and a 52 week high of $25.85. The business’s 50 day moving average is $21.48 and its two-hundred day moving average is $21.41. The firm has a market cap of $487.50 million, a price-to-earnings ratio of 120.26 and a beta of 0.69.

Alerus Financial (NASDAQ:ALRS) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.18). Alerus Financial had a net margin of 1.01% and a return on equity of 6.02%. The business had revenue of $80.58 million during the quarter, compared to analysts’ expectations of $52.30 million. During the same quarter last year, the company earned $0.45 EPS. On average, research analysts predict that Alerus Financial Co. will post 0.97 EPS for the current year.

Alerus Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, December 27th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date is Friday, December 27th. Alerus Financial’s dividend payout ratio is currently 500.00%.

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.