Alerus Financial Co. (NASDAQ:ALRS) Shares Sold by Jane Street Group LLC

Jane Street Group LLC trimmed its holdings in shares of Alerus Financial Co. (NASDAQ:ALRS) by 49.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,261 shares of the company’s stock after selling 10,057 shares during the period. Jane Street Group LLC’s holdings in Alerus Financial were worth $235,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Federated Hermes Inc. increased its holdings in shares of Alerus Financial by 380.7% during the second quarter. Federated Hermes Inc. now owns 1,519 shares of the company’s stock valued at $30,000 after purchasing an additional 1,203 shares during the period. SG Americas Securities LLC acquired a new position in shares of Alerus Financial during the third quarter valued at $142,000. Harbor Advisors LLC acquired a new position in Alerus Financial during the third quarter worth about $226,000. Inspire Investing LLC acquired a new position in Alerus Financial during the third quarter worth about $417,000. Finally, Walleye Capital LLC acquired a new position in Alerus Financial during the third quarter worth about $424,000. 51.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ALRS shares. Raymond James raised Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 target price on the stock in a report on Tuesday, September 17th. Piper Sandler lowered their target price on Alerus Financial from $24.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Finally, Keefe, Bruyette & Woods lifted their target price on Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Alerus Financial presently has an average rating of “Hold” and an average target price of $23.20.

Alerus Financial Trading Down 2.4 %

NASDAQ:ALRS opened at $18.50 on Friday. 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 1-year low of $17.99 and a 1-year high of $25.85. The firm has a market capitalization of $468.75 million, a price-to-earnings ratio of 115.63 and a beta of 0.71. The stock has a fifty day simple moving average of $21.03 and a 200 day simple moving average of $21.43.

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

Alerus Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, December 27th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, December 27th. This represents a $0.80 dividend on an annualized basis and a yield of 4.32%. Alerus Financial’s payout ratio is presently 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.