JPMorgan Chase & Co. increased its stake in shares of Alerus Financial Co. (NASDAQ:ALRS - Free Report) by 239.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,194 shares of the company's stock after purchasing an additional 57,980 shares during the period. JPMorgan Chase & Co. owned 0.32% of Alerus Financial worth $1,581,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Corebridge Financial Inc. increased its position in Alerus Financial by 17.1% during the 4th quarter. Corebridge Financial Inc. now owns 11,164 shares of the company's stock worth $215,000 after purchasing an additional 1,628 shares in the last quarter. Vanguard Group Inc. boosted its stake in Alerus Financial by 11.2% in the 4th quarter. Vanguard Group Inc. now owns 1,054,829 shares of the company's stock worth $20,295,000 after buying an additional 106,116 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Alerus Financial during the 4th quarter worth about $381,000. Charles Schwab Investment Management Inc. boosted its position in shares of Alerus Financial by 26.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 188,967 shares of the company's stock worth $3,636,000 after acquiring an additional 39,687 shares during the last quarter. Finally, Fortress Financial Group LLC purchased a new stake in Alerus Financial in the fourth quarter valued at approximately $1,638,000. Hedge funds and other institutional investors own 51.25% of the company's stock.
Analysts Set New Price Targets
A number of research firms have issued reports on ALRS. DA Davidson reissued a "neutral" rating and set a $23.00 price target on shares of Alerus Financial in a research report on Thursday, January 30th. Raymond James reiterated an "outperform" rating and set a $24.00 price objective (up from $22.00) on shares of Alerus Financial in a research note on Thursday, January 30th. Piper Sandler raised their target price on shares of Alerus Financial from $21.00 to $24.00 and gave the company a "neutral" rating in a research note on Thursday, January 30th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Alerus Financial from $21.00 to $22.00 and gave the stock a "market perform" rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $23.20.
Read Our Latest Stock Analysis on ALRS
Alerus Financial Stock Down 1.3 %
Shares of ALRS traded down $0.25 during mid-day trading on Thursday, reaching $19.63. 5,880 shares of the stock traded hands, compared to its average volume of 73,424. The stock has a fifty day simple moving average of $18.23 and a 200 day simple moving average of $20.21. Alerus Financial Co. has a 12-month low of $15.78 and a 12-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 firm has a market cap of $500.68 million, a price-to-earnings ratio of 19.25 and a beta of 0.67.
Alerus Financial (NASDAQ:ALRS - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.13. The firm had revenue of $68.79 million for the quarter, compared to the consensus estimate of $66.20 million. Alerus Financial had a net margin of 6.26% and a return on equity of 7.66%. Sell-side analysts expect that Alerus Financial Co. will post 2.14 EPS for the current fiscal year.
Alerus Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 14th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 4.08%. Alerus Financial's dividend payout ratio is presently 78.43%.
Alerus Financial Profile
(
Free Report)
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.
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