Barclays PLC Acquires 16,436 Shares of Alerus Financial Co. (NASDAQ:ALRS)

Barclays PLC increased its holdings in shares of Alerus Financial Co. (NASDAQ:ALRS) by 58.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 44,399 shares of the company’s stock after acquiring an additional 16,436 shares during the period. Barclays PLC owned about 0.18% of Alerus Financial worth $1,017,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC increased its stake in Alerus Financial by 4.0% in the third quarter. Geode Capital Management LLC now owns 416,072 shares of the company’s stock worth $9,522,000 after purchasing an additional 15,966 shares during the period. State Street Corp grew 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 worth $8,118,000 after purchasing an additional 3,623 shares during the last quarter. Endeavour Capital Advisors Inc. increased its stake in Alerus Financial by 34.0% in the 2nd quarter. Endeavour Capital Advisors Inc. now owns 288,876 shares of the company’s stock worth $5,665,000 after buying an additional 73,342 shares during the period. 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 valued at $5,384,000 after buying an additional 7,300 shares in the last quarter. Finally, Stieven Capital Advisors L.P. purchased a new stake in Alerus Financial in the 3rd quarter valued at about $5,966,000. 51.25% of the stock is owned by institutional investors.

Alerus Financial Price Performance

Shares of NASDAQ:ALRS opened at $19.28 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $21.00 and its 200 day moving average is $21.46. Alerus Financial Co. has a twelve month low of $17.99 and a twelve month high of $25.85. The company has a market cap of $488.52 million, a PE ratio of 120.51 and a beta of 0.71.

Alerus Financial (NASDAQ:ALRS) last posted its 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 during the quarter, compared to analyst estimates of $52.30 million. Alerus Financial had a net margin of 1.01% and a return on equity of 6.02%. During the same quarter in the prior year, the firm earned $0.45 earnings per share. On average, sell-side analysts forecast that Alerus Financial Co. will post 0.97 EPS for the current year.

Alerus Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, December 27th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend is Friday, December 27th. Alerus Financial’s dividend payout ratio (DPR) is presently 500.00%.

Analyst Ratings Changes

A number of brokerages have recently commented on ALRS. Keefe, Bruyette & Woods raised 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. Raymond James initiated coverage on shares of Alerus Financial in a research note on Tuesday. They issued an “outperform” rating and a $22.00 price objective for the company. Finally, Piper Sandler cut 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 research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $22.80.

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.