GSA Capital Partners LLP bought a new stake in Alerus Financial (NASDAQ:ALRS – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 27,955 shares of the company’s stock, valued at approximately $869,000.
Other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC purchased a new position in shares of Alerus Financial in the 1st quarter valued at about $1,951,000. Quantinno Capital Management LP boosted its holdings in Alerus Financial by 60.4% during the first quarter. Quantinno Capital Management LP now owns 92,252 shares of the company’s stock worth $2,187,000 after buying an additional 34,754 shares in the last quarter. First Trust Advisors LP boosted its holdings in Alerus Financial by 0.6% during the first quarter. First Trust Advisors LP now owns 81,208 shares of the company’s stock worth $1,925,000 after buying an additional 503 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Alerus Financial during the first quarter worth about $90,000. Finally, Dimensional Fund Advisors LP grew its position in Alerus Financial by 6.8% during the first quarter. Dimensional Fund Advisors LP now owns 886,815 shares of the company’s stock worth $21,027,000 after buying an additional 56,763 shares during the period. 51.25% of the stock is currently owned by hedge funds and other institutional investors.
Alerus Financial Trading Up 0.3%
NASDAQ:ALRS opened at $33.60 on Wednesday. The company has a market cap of $836.64 million, a PE ratio of 31.70 and a beta of 0.68. The business’s 50 day moving average is $31.83 and its two-hundred day moving average is $27.79. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.10. Alerus Financial has a 52 week low of $20.31 and a 52 week high of $34.40.
Alerus Financial Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were paid a dividend of $0.22 per share. The ex-dividend date was Friday, June 26th. This is a positive change from Alerus Financial’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 2.6%. Alerus Financial’s payout ratio is presently 83.02%.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on ALRS shares. Piper Sandler lifted their price target on shares of Alerus Financial from $32.00 to $37.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. DA Davidson set a $36.00 target price on Alerus Financial in a research note on Friday, July 31st. Zacks Research upgraded shares of Alerus Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. Wall Street Zen lowered Alerus Financial from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Keefe, Bruyette & Woods raised their target price on shares of Alerus Financial from $29.00 to $32.00 and gave the stock a “market perform” rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $35.50.
Get Our Latest Analysis on Alerus Financial
Alerus Financial Profile
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.
Featured Stories
- Five stocks we like better than Alerus Financial
- The AI Boom Is Turning This Cable Maker Into a Stock to Watch
- A Star Investor Just Trimmed Amazon—Here’s What It means
- Wendy’s Deal Buzz May Give Fast-Food Investors a New Reason to Look
- Home Depot Analysts See a Path to $375 and Beyond
Want to see what other hedge funds are holding ALRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alerus Financial (NASDAQ:ALRS – Free Report).
Receive News & Ratings for Alerus Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alerus Financial and related companies with MarketBeat.com's FREE daily email newsletter.
