Inspire Investing LLC Acquires 2,717 Shares of Alerus Financial Co. (NASDAQ:ALRS)

Inspire Investing LLC raised its holdings in Alerus Financial Co. (NASDAQ:ALRS) by 14.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,947 shares of the company’s stock after acquiring an additional 2,717 shares during the quarter. Inspire Investing LLC owned about 0.08% of Alerus Financial worth $403,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ALRS. Empowered Funds LLC boosted its holdings in Alerus Financial by 5.1% during the third quarter. Empowered Funds LLC now owns 46,937 shares of the company’s stock worth $1,074,000 after buying an additional 2,278 shares during the last quarter. SG Americas Securities LLC increased its stake in Alerus Financial by 41.6% during the 4th quarter. SG Americas Securities LLC now owns 8,812 shares of the company’s stock worth $170,000 after purchasing an additional 2,590 shares in the last quarter. State Street Corp raised its holdings in shares of Alerus Financial by 1.0% during the third quarter. State Street Corp now owns 351,775 shares of the company’s stock worth $8,118,000 after acquiring an additional 3,623 shares during the period. Sippican Capital Advisors raised its stake in shares of Alerus Financial by 4.8% in the 3rd quarter. Sippican Capital Advisors now owns 80,525 shares of the company’s stock valued at $1,842,000 after purchasing an additional 3,665 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Alerus Financial by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 149,280 shares of the company’s stock valued at $3,416,000 after purchasing an additional 5,184 shares in the last quarter. Institutional investors and hedge funds own 51.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ALRS shares. Piper Sandler decreased their price objective on Alerus Financial from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Keefe, Bruyette & Woods lifted their price objective 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. Finally, Raymond James started coverage on shares of Alerus Financial in a research report on Tuesday, January 14th. They issued an “outperform” rating and a $22.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $22.80.

Alerus Financial Trading Down 0.5 %

Shares of ALRS stock opened at $19.83 on Friday. Alerus Financial Co. has a 12-month low of $17.99 and a 12-month high of $25.85. The company has a market capitalization of $502.49 million, a PE ratio of 123.95 and a beta of 0.71. The firm has a 50 day moving average price of $20.53 and a two-hundred day moving average price of $21.48. 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 (NASDAQ:ALRS) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.18). Alerus Financial had a return on equity of 6.02% and a net margin of 1.01%. The firm had revenue of $80.58 million for the quarter, compared to analyst estimates of $52.30 million. During the same period in the previous year, the business posted $0.45 earnings per share. As a group, analysts predict that Alerus Financial Co. will post 0.71 earnings per share for the current year.

Alerus Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, December 27th were given a $0.20 dividend. The ex-dividend date was Friday, December 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.03%. Alerus Financial’s payout ratio is presently 500.03%.

Alerus Financial Company 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.