American Century Companies Inc. Trims Stake in Alerus Financial Co. (NASDAQ:ALRS)

American Century Companies Inc. cut its position in Alerus Financial Co. (NASDAQ:ALRS) by 12.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 164,895 shares of the company’s stock after selling 23,791 shares during the quarter. American Century Companies Inc. owned approximately 0.83% of Alerus Financial worth $3,234,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC acquired a new stake in shares of Alerus Financial in the fourth quarter valued at approximately $81,000. Bailard Inc. acquired a new stake in Alerus Financial during the 2nd quarter worth $265,000. Acadian Asset Management LLC grew its position in Alerus Financial by 4,147.8% during the 1st quarter. Acadian Asset Management LLC now owns 26,294 shares of the company’s stock worth $573,000 after purchasing an additional 25,675 shares during the last quarter. Cetera Advisors LLC acquired a new position in Alerus Financial in the first quarter valued at $638,000. Finally, Empowered Funds LLC raised its holdings in shares of Alerus Financial by 44.0% in the first quarter. Empowered Funds LLC now owns 41,599 shares of the company’s stock valued at $908,000 after buying an additional 12,719 shares during the last quarter. Hedge funds and other institutional investors own 51.25% of the company’s stock.

Alerus Financial Stock Up 0.5 %

ALRS opened at $21.93 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.86 and a quick ratio of 0.85. Alerus Financial Co. has a 12 month low of $16.80 and a 12 month high of $25.85. The stock has a market capitalization of $433.78 million, a P/E ratio of 44.76 and a beta of 0.66. The business has a 50 day simple moving average of $21.66 and a 200-day simple moving average of $20.61.

Alerus Financial (NASDAQ:ALRS) last issued its earnings results on Wednesday, July 24th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.06). The company had revenue of $80.39 million for the quarter, compared to analysts’ expectations of $49.20 million. Alerus Financial had a return on equity of 7.25% and a net margin of 2.39%. During the same quarter in the previous year, the firm posted $0.45 earnings per share. On average, equities analysts anticipate that Alerus Financial Co. will post 1.21 earnings per share for the current fiscal year.

Alerus Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 13th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, September 13th. This represents a $0.80 annualized dividend and a yield of 3.65%. Alerus Financial’s payout ratio is currently 163.27%.

Analyst Ratings Changes

A number of research firms recently issued reports on ALRS. DA Davidson raised their price target on Alerus Financial from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Keefe, Bruyette & Woods boosted their target price on Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Raymond James raised Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price target for the company in a report on Tuesday, September 17th. Finally, Piper Sandler boosted their price objective on shares of Alerus Financial from $22.50 to $24.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $23.40.

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.