Empowered Funds LLC Purchases 33,247 Shares of Alerus Financial Co. (NASDAQ:ALRS)

Empowered Funds LLC lifted its position in Alerus Financial Co. (NASDAQ:ALRS) by 70.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 80,184 shares of the company’s stock after purchasing an additional 33,247 shares during the period. Empowered Funds LLC owned about 0.32% of Alerus Financial worth $1,543,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in shares of Alerus Financial in the third quarter worth approximately $142,000. Harbor Advisors LLC bought a new stake in Alerus Financial in the third quarter valued at $226,000. Inspire Investing LLC boosted its holdings 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 acquiring an additional 2,717 shares in the last quarter. Walleye Capital LLC bought a new stake in Alerus Financial in the third quarter valued at $424,000. Finally, Foundry Partners LLC bought a new stake in Alerus Financial in the third quarter valued at $530,000. Institutional investors own 51.25% of the company’s stock.

Alerus Financial Stock Performance

Shares of Alerus Financial stock opened at $21.42 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $542.78 million, a P/E ratio of 21.00 and a beta of 0.71. The business has a fifty day simple moving average of $20.36 and a two-hundred day simple moving average of $21.45. Alerus Financial Co. has a 12 month low of $17.99 and a 12 month high of $24.41.

Alerus Financial (NASDAQ:ALRS) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate 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 earnings per share for the current fiscal year.

Alerus Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, December 27th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.73%. The ex-dividend date was Friday, December 27th. Alerus Financial’s dividend payout ratio is presently 78.43%.

Analyst Ratings Changes

ALRS has been the topic of several recent analyst reports. Piper Sandler lifted their price target on shares of Alerus Financial from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Raymond James reiterated an “outperform” rating and issued a $24.00 price target (up previously from $22.00) on shares of Alerus Financial in a report on Thursday, January 30th. DA Davidson reiterated a “neutral” rating and issued a $23.00 price target on shares of Alerus Financial in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods raised their price objective 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. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.