Charles Schwab Investment Management Inc. Has $3.64 Million Holdings in Alerus Financial Co. (NASDAQ:ALRS)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Alerus Financial Co. (NASDAQ:ALRS) by 26.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 188,967 shares of the company’s stock after acquiring an additional 39,687 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.75% of Alerus Financial worth $3,636,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fortress Financial Group LLC bought a new position in shares of Alerus Financial during the 4th quarter valued at about $1,638,000. Proficio Capital Partners LLC acquired a new stake in Alerus Financial during the 4th quarter worth approximately $381,000. New York State Common Retirement Fund lifted 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 in the last quarter. Rhumbline Advisers boosted its holdings in shares of Alerus Financial by 13.7% in the fourth quarter. Rhumbline Advisers now owns 31,143 shares of the company’s stock valued at $599,000 after buying an additional 3,746 shares during the period. Finally, Grace & White Inc. NY acquired a new position in shares of Alerus Financial in the fourth quarter valued at approximately $4,930,000. 51.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on ALRS shares. Piper Sandler boosted their price objective on shares of Alerus Financial from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Keefe, Bruyette & Woods boosted their price target on Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. DA Davidson reaffirmed a “neutral” rating and set a $23.00 price objective on shares of Alerus Financial in a research report on Thursday, January 30th. Finally, Raymond James reissued an “outperform” rating and issued a $24.00 target price (up previously from $22.00) 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 company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $23.40.

Alerus Financial Trading Up 1.1 %

Shares of NASDAQ:ALRS opened at $18.63 on Thursday. The company’s 50-day moving average price is $20.13 and its two-hundred day moving average price is $21.07. Alerus Financial Co. has a one year low of $17.95 and a one 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 stock has a market capitalization of $475.27 million, a PE ratio of 18.26 and a beta of 0.74.

Alerus Financial (NASDAQ:ALRS) last released its earnings results on Tuesday, January 28th. The company reported $0.44 earnings per share (EPS) for the quarter, beating 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, equities analysts forecast that Alerus Financial Co. will post 2.14 EPS for the current fiscal year.

Alerus Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.29%. 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.