Cubist Systematic Strategies LLC Acquires Shares of 22,884 Alerus Financial Co. (NASDAQ:ALRS)

Cubist Systematic Strategies LLC purchased a new stake in Alerus Financial Co. (NASDAQ:ALRS - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 22,884 shares of the company's stock, valued at approximately $440,000. Cubist Systematic Strategies LLC owned about 0.09% of Alerus Financial as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its stake in shares of Alerus Financial by 457.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,277 shares of the company's stock worth $25,000 after purchasing an additional 1,048 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Alerus Financial by 32.7% in the fourth quarter. Legal & General Group Plc now owns 2,025 shares of the company's stock worth $39,000 after purchasing an additional 499 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in shares of Alerus Financial by 31.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,349 shares of the company's stock worth $45,000 after purchasing an additional 568 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Alerus Financial in the fourth quarter worth about $56,000. Finally, New York State Common Retirement Fund raised its stake in shares of Alerus Financial by 41.7% in the fourth quarter. New York State Common Retirement Fund now owns 6,451 shares of the company's stock worth $124,000 after purchasing an additional 1,900 shares during the last quarter. 51.25% of the stock is currently owned by hedge funds and other institutional investors.

Alerus Financial Stock Performance

ALRS stock traded down $0.01 during trading on Thursday, hitting $21.23. 11,109 shares of the company traded hands, compared to its average volume of 74,317. The stock's 50-day simple moving average is $18.82 and its 200 day simple moving average is $20.05. 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 company has a market cap of $538.52 million, a PE ratio of 20.78 and a beta of 0.70. Alerus Financial Co. has a 1 year low of $15.78 and a 1 year high of $24.41.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.13. The company had revenue of $68.79 million during the quarter, compared to analysts' expectations of $66.20 million. Alerus Financial had a return on equity of 7.66% and a net margin of 6.26%. On average, equities analysts expect that Alerus Financial Co. will post 2.14 earnings per share for the current fiscal year.

Alerus Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 14th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.77%. The ex-dividend date was Friday, March 14th. Alerus Financial's dividend payout ratio is currently 65.57%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ALRS. DA Davidson restated a "neutral" rating and issued a $23.00 price objective on shares of Alerus Financial in a research note on Thursday, January 30th. Raymond James restated an "outperform" rating and issued 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 price objective on Alerus Financial from $22.00 to $23.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Finally, Keefe, Bruyette & Woods raised their price objective on Alerus Financial from $21.00 to $22.00 and gave the stock a "market perform" rating in a research note on Wednesday, April 30th.

About Alerus Financial

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.