JPMorgan Chase & Co. Increases Stock Holdings in Alerus Financial Co. (NASDAQ:ALRS)

JPMorgan Chase & Co. grew its holdings in Alerus Financial Co. (NASDAQ:ALRS) by 207.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,214 shares of the company’s stock after buying an additional 16,336 shares during the quarter. JPMorgan Chase & Co. owned about 0.10% of Alerus Financial worth $554,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ALRS. Empowered Funds LLC grew its holdings in Alerus Financial by 5.1% in the third quarter. Empowered Funds LLC now owns 46,937 shares of the company’s stock valued at $1,074,000 after purchasing an additional 2,278 shares during the period. State Street Corp lifted 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 valued at $8,118,000 after purchasing an additional 3,623 shares in the last quarter. Sippican Capital Advisors grew its holdings in shares of Alerus Financial by 4.8% during the 3rd quarter. Sippican Capital Advisors now owns 80,525 shares of the company’s stock worth $1,842,000 after purchasing an additional 3,665 shares during the period. Charles Schwab Investment Management Inc. increased its position in 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 purchasing an additional 5,184 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Alerus Financial in the third quarter valued at approximately $142,000. Institutional investors and hedge funds own 51.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on ALRS shares. Keefe, Bruyette & Woods boosted their price objective 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 began coverage on shares of Alerus Financial in a report on Tuesday, January 14th. They issued an “outperform” rating and a $22.00 price target for the company. Finally, Piper Sandler reduced 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 analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Alerus Financial has an average rating of “Hold” and an average price target of $22.80.

Alerus Financial Stock Up 2.0 %

Alerus Financial stock opened at $20.22 on Tuesday. The firm has a market cap of $512.37 million, a price-to-earnings ratio of 126.38 and a beta of 0.71. The firm has a fifty day moving average price of $20.50 and a two-hundred day moving average price of $21.49. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.85 and a quick ratio of 0.85. Alerus Financial Co. has a fifty-two week low of $17.99 and a fifty-two week high of $25.85.

Alerus Financial (NASDAQ:ALRS) last issued its earnings results on Tuesday, October 29th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.18). The business had revenue of $80.58 million for 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 last year, the firm posted $0.45 earnings per share. As a group, analysts forecast that Alerus Financial Co. will post 0.71 earnings per share for the current year.

Alerus Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, December 27th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date was Friday, December 27th. Alerus Financial’s dividend payout ratio is currently 500.03%.

Alerus Financial Company Profile

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.