Proficio Capital Partners LLC Acquires Shares of 19,798 Alerus Financial Co. (NASDAQ:ALRS)

Proficio Capital Partners LLC acquired a new stake in Alerus Financial Co. (NASDAQ:ALRS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 19,798 shares of the company’s stock, valued at approximately $381,000. Proficio Capital Partners LLC owned 0.08% of Alerus Financial as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. New York State Common Retirement Fund raised its stake in Alerus Financial by 41.7% in the fourth quarter. New York State Common Retirement Fund now owns 6,451 shares of the company’s stock valued at $124,000 after buying an additional 1,900 shares during the period. SG Americas Securities LLC raised its stake in Alerus Financial by 41.6% in the fourth quarter. SG Americas Securities LLC now owns 8,812 shares of the company’s stock valued at $170,000 after buying an additional 2,590 shares during the period. Harbor Advisors LLC bought a new stake in Alerus Financial in the third quarter valued at approximately $226,000. Inspire Investing LLC raised its stake in Alerus Financial by 14.9% in the fourth quarter. Inspire Investing LLC now owns 20,947 shares of the company’s stock valued at $403,000 after buying an additional 2,717 shares during the period. Finally, Walleye Capital LLC bought a new stake in Alerus Financial in the third quarter valued at approximately $424,000. Institutional investors own 51.25% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on ALRS shares. Raymond James restated an “outperform” rating and issued a $24.00 price objective (up previously from $22.00) on shares of Alerus Financial in a research note on Thursday, January 30th. Keefe, Bruyette & Woods upped their target price on Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler upped their target price on Alerus Financial from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $23.00 target price on shares of Alerus Financial in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Alerus Financial currently has an average rating of “Hold” and an average price target of $23.40.

Alerus Financial Trading Down 2.9 %

Shares of NASDAQ:ALRS opened at $18.79 on Tuesday. The company has a market capitalization of $476.10 million, a P/E ratio of 18.42 and a beta of 0.74. Alerus Financial Co. has a 1 year low of $17.99 and a 1 year high of $24.41. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.85 and a quick ratio of 0.85. The business’s 50 day simple moving average is $20.26 and its 200 day simple moving average is $21.37.

Alerus Financial (NASDAQ:ALRS) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.16. Alerus Financial had a return on equity of 7.66% and a net margin of 6.26%. On average, research analysts anticipate that Alerus Financial Co. will post 2.14 EPS for the current fiscal year.

Alerus Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 14th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend is Friday, March 14th. Alerus Financial’s dividend payout ratio is currently 78.43%.

Alerus Financial 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.