Riverwater Partners LLC Trims Stake in Alerus Financial Co. (NASDAQ:ALRS)

Riverwater Partners LLC cut its holdings in Alerus Financial Co. (NASDAQ:ALRS) by 27.0% during the 4th quarter, Holdings Channel reports. The fund owned 10,823 shares of the company’s stock after selling 4,005 shares during the period. Riverwater Partners LLC’s holdings in Alerus Financial were worth $229,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its position in shares of Alerus Financial by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 149,280 shares of the company’s stock valued at $3,416,000 after buying an additional 5,184 shares in the last quarter. Walleye Capital LLC purchased a new position in Alerus Financial during the third quarter valued at approximately $424,000. State Street Corp boosted its position in shares of Alerus Financial by 1.0% in the third quarter. State Street Corp now owns 351,775 shares of the company’s stock worth $8,118,000 after purchasing an additional 3,623 shares during the period. Zacks Investment Management boosted its position in shares of Alerus Financial by 7.2% in the third quarter. Zacks Investment Management now owns 102,713 shares of the company’s stock worth $2,350,000 after purchasing an additional 6,903 shares during the period. Finally, Barclays PLC increased its stake in shares of Alerus Financial by 58.8% in the third quarter. Barclays PLC now owns 44,399 shares of the company’s stock worth $1,017,000 after purchasing an additional 16,436 shares in the last quarter. Hedge funds and other institutional investors own 51.25% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on ALRS shares. DA Davidson reaffirmed a “neutral” rating and issued a $23.00 target price on shares of Alerus Financial in a report on Thursday, January 30th. Raymond James reaffirmed an “outperform” rating and issued a $24.00 price objective (up previously from $22.00) on shares of Alerus Financial in a research note on Thursday, January 30th. Finally, Piper Sandler lifted their target price on Alerus Financial from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Three research 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, Alerus Financial currently has an average rating of “Hold” and an average target price of $23.40.

Alerus Financial Trading Down 3.3 %

Shares of Alerus Financial stock opened at $16.60 on Friday. Alerus Financial Co. has a twelve month low of $16.15 and a twelve month high of $24.41. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $19.87 and a 200-day moving average price of $20.91. The firm has a market cap of $423.48 million, a price-to-earnings ratio of 16.27 and a beta of 0.67.

Alerus Financial (NASDAQ:ALRS) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.44 earnings per share for the quarter, beating 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%. Equities research analysts anticipate that Alerus Financial Co. will post 2.14 EPS for the current fiscal year.

Alerus Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 14th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 4.82%. Alerus Financial’s dividend payout ratio (DPR) is presently 78.43%.

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.