Gamco Investors INC. ET AL decreased its position in Alerus Financial (NASDAQ:ALRS – Free Report) by 76.7% during the 1st quarter, Holdings Channel reports. The fund owned 19,836 shares of the company’s stock after selling 65,257 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Alerus Financial were worth $470,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALRS. Larson Financial Group LLC increased its position in shares of Alerus Financial by 50.0% in the 4th quarter. Larson Financial Group LLC now owns 1,500 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Alerus Financial by 90.1% in the 2nd quarter. NewEdge Advisors LLC now owns 1,544 shares of the company’s stock valued at $33,000 after purchasing an additional 732 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Alerus Financial by 25.7% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,222 shares of the company’s stock worth $50,000 after purchasing an additional 455 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new position in shares of Alerus Financial during the third quarter worth $52,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Alerus Financial by 172.7% during the second quarter. Tower Research Capital LLC TRC now owns 3,371 shares of the company’s stock worth $73,000 after purchasing an additional 2,135 shares in the last quarter. Institutional investors and hedge funds own 51.25% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have weighed in on ALRS. Piper Sandler raised their price target on Alerus Financial from $28.50 to $32.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. Zacks Research upgraded Alerus Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. Weiss Ratings raised Alerus Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. Keefe, Bruyette & Woods raised their target price on Alerus Financial from $25.00 to $27.00 and gave the stock a “market perform” rating in a research report on Friday, May 1st. Finally, DA Davidson increased their price target on shares of Alerus Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Alerus Financial has an average rating of “Moderate Buy” and a consensus target price of $30.50.
Alerus Financial Stock Performance
ALRS opened at $32.95 on Thursday. The stock has a market cap of $828.03 million, a P/E ratio of 31.99 and a beta of 0.68. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.90. The stock’s 50 day simple moving average is $30.43 and its 200 day simple moving average is $26.84. Alerus Financial has a 1-year low of $20.26 and a 1-year high of $33.44.
Alerus Financial (NASDAQ:ALRS – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.78 by $0.02. The business had revenue of $80.00 million for the quarter, compared to analyst estimates of $76.99 million. Alerus Financial had a net margin of 6.74% and a return on equity of 14.39%. As a group, equities analysts anticipate that Alerus Financial will post 3.03 EPS for the current fiscal year.
Alerus Financial Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Friday, June 26th. This is a positive change from Alerus Financial’s previous quarterly dividend of $0.21. Alerus Financial’s dividend payout ratio is 85.44%.
About Alerus Financial
Alerus Financial Corporation (NASDAQ: ALRS) is a diversified financial services company headquartered in Grand Forks, North Dakota. The firm provides a full range of commercial and consumer banking products, including deposit accounts, lending solutions and treasury management services for individuals, small businesses and larger corporate clients. Through its community banking network, Alerus emphasizes local decision-making and personalized service to meet the needs of its varied client base.
In addition to traditional banking offerings, Alerus operates a national mortgage origination and servicing platform that delivers home purchase and refinance loans.
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