Dimensional Fund Advisors LP Has $5.38 Million Stake in Alerus Financial Co. (NASDAQ:ALRS)

Dimensional Fund Advisors LP boosted its position in Alerus Financial Co. (NASDAQ:ALRS) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 274,615 shares of the company’s stock after purchasing an additional 7,300 shares during the period. Dimensional Fund Advisors LP owned 1.39% of Alerus Financial worth $5,384,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Los Angeles Capital Management LLC bought a new stake in shares of Alerus Financial during the first quarter worth about $1,711,000. CWM LLC grew its holdings in Alerus Financial by 85,625.0% during the 2nd quarter. CWM LLC now owns 58,293 shares of the company’s stock worth $1,143,000 after acquiring an additional 58,225 shares during the last quarter. Wealth Forward LLC acquired a new position in Alerus Financial in the 4th quarter valued at approximately $1,242,000. Cetera Advisors LLC bought a new position in shares of Alerus Financial during the first quarter valued at $638,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of Alerus Financial by 4,147.8% during the first 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 period. 51.25% of the stock is currently owned by institutional investors.

Alerus Financial Stock Performance

Shares of Alerus Financial stock opened at $22.90 on Wednesday. The company has a market cap of $452.89 million, a P/E ratio of 46.73 and a beta of 0.66. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $21.73 and a two-hundred day moving average price of $20.64. Alerus Financial Co. has a 1-year low of $16.80 and a 1-year high of $25.85.

Alerus Financial (NASDAQ:ALRS) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.06). Alerus Financial had a net margin of 2.39% and a return on equity of 7.25%. The company had revenue of $80.39 million for the quarter, compared to analyst estimates of $49.20 million. During the same quarter in the prior year, the company posted $0.45 EPS. As a group, analysts anticipate that Alerus Financial Co. will post 1.21 EPS for the current year.

Alerus Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 13th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date is Friday, September 13th. Alerus Financial’s dividend payout ratio (DPR) is 163.27%.

Wall Street Analysts Forecast Growth

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

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.