Alerus Financial Co. (NASDAQ:ALRS) to Issue Quarterly Dividend of $0.16

Alerus Financial Co. (NASDAQ:ALRS) declared a quarterly dividend on Tuesday, November 23rd, Zacks reports. Investors of record on Friday, December 24th will be paid a dividend of 0.16 per share on Friday, January 14th. This represents a $0.64 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Wednesday, December 22nd.

Shares of NASDAQ:ALRS opened at $32.90 on Thursday. The stock has a market cap of $566.14 million, a price-to-earnings ratio of 11.63 and a beta of 0.78. The company has a quick ratio of 0.70, a current ratio of 0.72 and a debt-to-equity ratio of 0.17. Alerus Financial has a 12-month low of $23.99 and a 12-month high of $38.31. The business’s 50 day moving average is $31.66 and its 200 day moving average is $30.64.

Alerus Financial (NASDAQ:ALRS) last announced its earnings results on Tuesday, October 26th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.24. Alerus Financial had a return on equity of 14.78% and a net margin of 20.39%. During the same quarter in the previous year, the business earned $0.99 EPS. As a group, equities research analysts expect that Alerus Financial will post 2.81 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of ALRS. Two Sigma Investments LP purchased a new position in Alerus Financial in the third quarter worth $304,000. Bank of New York Mellon Corp boosted its position in Alerus Financial by 4.3% in the third quarter. Bank of New York Mellon Corp now owns 99,895 shares of the company’s stock worth $2,985,000 after purchasing an additional 4,142 shares during the last quarter. Invesco Ltd. boosted its position in Alerus Financial by 11.2% in the third quarter. Invesco Ltd. now owns 15,070 shares of the company’s stock worth $451,000 after purchasing an additional 1,513 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in Alerus Financial by 132.3% in the third quarter. Royal Bank of Canada now owns 2,472 shares of the company’s stock worth $74,000 after purchasing an additional 1,408 shares during the last quarter. 37.08% of the stock is currently owned by institutional investors and hedge funds.

Separately, Zacks Investment Research raised Alerus Financial from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Friday, October 29th.

About Alerus Financial

Alerus Financial Corp. engages in the provision of business and consumer financial products and services through its subsidiary, Alerus Financial NA. It operates through the following segments: Banking, Retirement & Benefit Services, Wealth Management, Mortgage, and Corporate Administration. The Banking segment provides lending and deposit products.

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Dividend History for Alerus Financial (NASDAQ:ALRS)

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