Alerus Financial Co. (NASDAQ:ALRS) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its stake in shares of Alerus Financial Co. (NASDAQ:ALRS) by 3.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 149,280 shares of the company’s stock after buying an additional 5,184 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.59% of Alerus Financial worth $3,416,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Stieven Capital Advisors L.P. acquired a new position in Alerus Financial during the 3rd quarter worth approximately $5,966,000. Squarepoint Ops LLC lifted its position in shares of Alerus Financial by 191.1% during the 2nd quarter. Squarepoint Ops LLC now owns 46,839 shares of the company’s stock worth $919,000 after purchasing an additional 30,750 shares during the last quarter. Bailard Inc. acquired a new position in shares of Alerus Financial during the second quarter worth $265,000. Foundry Partners LLC purchased a new position in Alerus Financial in the third quarter valued at $530,000. Finally, Inspire Investing LLC acquired a new stake in Alerus Financial in the third quarter valued at $417,000. 51.25% of the stock is currently owned by hedge funds and other institutional investors.

Alerus Financial Stock Up 0.9 %

Alerus Financial stock opened at $22.04 on Friday. The stock has a 50-day simple moving average of $22.38 and a 200-day simple moving average of $21.32. The company has a market capitalization of $558.45 million, a P/E ratio of 137.75 and a beta of 0.69. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.85 and a current ratio of 0.85. Alerus Financial Co. has a fifty-two week low of $18.09 and a fifty-two week high of $25.85.

Alerus Financial (NASDAQ:ALRS) last posted its quarterly earnings data 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 firm had revenue of $80.58 million during 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 period in the previous year, the company posted $0.45 earnings per share. Equities research analysts expect that Alerus Financial Co. will post 0.97 earnings per share for the current year.

Alerus Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, December 27th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Friday, December 27th. Alerus Financial’s payout ratio is currently 500.00%.

Analysts Set New Price Targets

ALRS has been the subject of several analyst reports. Keefe, Bruyette & Woods upped their price objective on Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. 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 cut their price objective on shares of Alerus Financial from $24.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $23.20.

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.