Rhumbline Advisers Grows Holdings in Alerus Financial Co. (NASDAQ:ALRS)

Rhumbline Advisers increased its holdings in shares of Alerus Financial Co. (NASDAQ:ALRS) by 13.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,143 shares of the company’s stock after purchasing an additional 3,746 shares during the period. Rhumbline Advisers owned 0.12% of Alerus Financial worth $599,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. SG Americas Securities LLC boosted its stake in shares of Alerus Financial by 41.6% during the fourth quarter. SG Americas Securities LLC now owns 8,812 shares of the company’s stock worth $170,000 after buying an additional 2,590 shares during the period. Harbor Advisors LLC acquired a new stake in Alerus Financial during the 3rd quarter worth approximately $226,000. Inspire Investing LLC grew its stake in shares of Alerus Financial by 14.9% in the 4th quarter. Inspire Investing LLC now owns 20,947 shares of the company’s stock valued at $403,000 after purchasing an additional 2,717 shares during the last quarter. Walleye Capital LLC purchased a new position in shares of Alerus Financial in the 3rd quarter valued at approximately $424,000. Finally, Foundry Partners LLC acquired a new position in shares of Alerus Financial in the third quarter valued at approximately $530,000. 51.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ALRS shares. Raymond James reiterated an “outperform” rating and issued a $24.00 price objective (up from $22.00) on shares of Alerus Financial in a research report on Thursday, January 30th. Keefe, Bruyette & Woods lifted their target price on shares of Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler increased their price target on shares of Alerus Financial from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $23.00 price objective on shares of Alerus Financial in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Alerus Financial has an average rating of “Hold” and an average target price of $23.40.

Alerus Financial Stock Performance

Shares of ALRS opened at $19.36 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15. Alerus Financial Co. has a 52-week low of $17.99 and a 52-week high of $24.41. The company has a 50-day simple moving average of $20.26 and a 200-day simple moving average of $21.40. The company has a market capitalization of $490.54 million, a PE ratio of 18.98 and a beta of 0.74.

Alerus Financial (NASDAQ:ALRS) last issued 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 net margin of 6.26% and a return on equity of 7.66%. Equities research analysts predict that Alerus Financial Co. will post 2.14 earnings per share for the current fiscal year.

Alerus Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 14th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 4.13%. Alerus Financial’s payout ratio is 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.