Cubist Systematic Strategies LLC Takes $440,000 Position in Alerus Financial Co. (NASDAQ:ALRS)

Cubist Systematic Strategies LLC acquired a new stake in Alerus Financial Co. (NASDAQ:ALRS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 22,884 shares of the company's stock, valued at approximately $440,000. Cubist Systematic Strategies LLC owned 0.09% of Alerus Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Alerus Financial NA boosted its stake in shares of Alerus Financial by 0.3% in the fourth quarter. Alerus Financial NA now owns 2,130,638 shares of the company's stock valued at $40,993,000 after purchasing an additional 5,915 shares during the period. Vanguard Group Inc. lifted its stake in Alerus Financial by 11.2% in the fourth quarter. Vanguard Group Inc. now owns 1,054,829 shares of the company's stock worth $20,295,000 after acquiring an additional 106,116 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Alerus Financial by 120.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 666,559 shares of the company's stock worth $12,824,000 after acquiring an additional 363,617 shares during the last quarter. Endeavour Capital Advisors Inc. lifted its stake in Alerus Financial by 77.3% in the fourth quarter. Endeavour Capital Advisors Inc. now owns 527,283 shares of the company's stock worth $10,145,000 after acquiring an additional 229,932 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Alerus Financial by 26.0% in the fourth quarter. Geode Capital Management LLC now owns 524,195 shares of the company's stock worth $10,088,000 after acquiring an additional 108,123 shares during the last quarter. Hedge funds and other institutional investors own 51.25% of the company's stock.

Alerus Financial Stock Down 0.9%

ALRS stock traded down $0.19 during midday trading on Tuesday, reaching $21.93. 82,251 shares of the company were exchanged, compared to its average volume of 74,440. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.85 and a current ratio of 0.85. Alerus Financial Co. has a 1-year low of $15.78 and a 1-year high of $24.41. The stock's 50-day simple moving average is $18.68 and its 200 day simple moving average is $20.03. The company has a market cap of $556.28 million, a price-to-earnings ratio of 21.50 and a beta of 0.70.

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

Alerus Financial Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 3.65%. Alerus Financial's payout ratio is currently 65.57%.

Wall Street Analyst Weigh In

ALRS has been the subject of a number of recent research reports. Raymond James reiterated an "outperform" rating and issued a $24.00 price target (up previously from $22.00) on shares of Alerus Financial in a research note on Thursday, January 30th. DA Davidson reiterated a "neutral" rating and issued a $23.00 price target on shares of Alerus Financial in a research note on Thursday, January 30th. Piper Sandler lifted their price target on shares of 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 lifted 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 note on Wednesday, April 30th.

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.