134,770 Shares in Alerus Financial Co. (NASDAQ:ALRS) Acquired by Choreo LLC

Choreo LLC bought a new stake in Alerus Financial Co. (NASDAQ:ALRS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 134,770 shares of the company’s stock, valued at approximately $2,620,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALRS. SG Americas Securities LLC purchased a new stake in Alerus Financial in the third quarter valued at $142,000. Inspire Investing LLC purchased a new stake in Alerus Financial in the third quarter valued at $417,000. Sippican Capital Advisors raised its position in Alerus Financial by 4.8% in the third 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. Empowered Funds LLC raised its position in Alerus Financial by 5.1% in the third quarter. Empowered Funds LLC now owns 46,937 shares of the company’s stock valued at $1,074,000 after purchasing an additional 2,278 shares during the period. Finally, Stieven Capital Advisors L.P. purchased a new stake in Alerus Financial in the third quarter valued at $5,966,000. Hedge funds and other institutional investors own 51.25% of the company’s stock.

Wall Street Analyst Weigh In

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

Alerus Financial Trading Up 0.7 %

ALRS opened at $21.92 on Friday. Alerus Financial Co. has a 12 month low of $17.99 and a 12 month high of $24.41. The stock has a market capitalization of $555.45 million, a price-to-earnings ratio of 21.49 and a beta of 0.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.85 and a quick ratio of 0.85. The business has a fifty day moving average price of $20.40 and a 200 day moving average price of $21.48.

Alerus Financial (NASDAQ:ALRS) last released its earnings results on Tuesday, January 28th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.28 by $0.16. Alerus Financial had a return on equity of 7.66% and a net margin of 6.26%. Sell-side analysts expect that Alerus Financial Co. will post 2.14 earnings per share for the current fiscal year.

Alerus Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, December 27th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $0.80 annualized dividend and a yield of 3.65%. 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.