Dimensional Fund Advisors LP Has $12.82 Million Stock Holdings in Alerus Financial Co. (NASDAQ:ALRS)

Dimensional Fund Advisors LP grew its position in shares of Alerus Financial Co. (NASDAQ:ALRS - Free Report) by 120.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 666,559 shares of the company's stock after acquiring an additional 363,617 shares during the quarter. Dimensional Fund Advisors LP owned about 2.63% of Alerus Financial worth $12,824,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ALRS. Legal & General Group Plc boosted its position in shares of Alerus Financial by 32.7% during the fourth quarter. Legal & General Group Plc now owns 2,025 shares of the company's stock worth $39,000 after buying an additional 499 shares during the period. Summit Investment Advisors Inc. grew its position in Alerus Financial by 31.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,349 shares of the company's stock valued at $45,000 after buying an additional 568 shares in the last quarter. New York State Common Retirement Fund raised its holdings in Alerus Financial by 41.7% during 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 in the last quarter. SG Americas Securities LLC boosted its stake in Alerus Financial by 41.6% during the 4th quarter. SG Americas Securities LLC now owns 8,812 shares of the company's stock valued at $170,000 after purchasing an additional 2,590 shares in the last quarter. Finally, ExodusPoint Capital Management LP acquired a new stake in shares of Alerus Financial in the fourth quarter valued at $204,000. Institutional investors own 51.25% of the company's stock.

Analysts Set New Price Targets

ALRS has been the subject of a number of recent analyst reports. DA Davidson reaffirmed a "neutral" rating and issued a $23.00 price objective on shares of Alerus Financial in a research note on Thursday, January 30th. Keefe, Bruyette & Woods lifted their price objective on shares of Alerus Financial from $21.00 to $22.00 and gave the company a "market perform" rating in a research note on Wednesday, April 30th. Piper Sandler upped their price objective on shares of Alerus Financial from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Finally, Raymond James reiterated an "outperform" rating and set a $24.00 price target (up from $22.00) on shares of Alerus Financial in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Alerus Financial has a consensus rating of "Hold" and an average target price of $23.00.

Alerus Financial Stock Up 0.8%

Shares of NASDAQ:ALRS traded up $0.17 during midday trading on Thursday, reaching $22.33. 43,100 shares of the company were exchanged, compared to its average volume of 75,511. The stock has a fifty day simple moving average of $18.47 and a two-hundred day simple moving average of $20.05. Alerus Financial Co. has a fifty-two week low of $15.78 and a fifty-two week high of $24.41. The firm has a market cap of $566.40 million, a PE ratio of 21.83 and a beta of 0.70. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last posted 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 analyst estimates of $66.20 million. Alerus Financial had a net margin of 6.26% and a return on equity of 7.66%. As a group, sell-side analysts forecast that Alerus Financial Co. will post 2.14 earnings per share for the current year.

Alerus Financial Announces Dividend

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 $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend was Friday, March 14th. Alerus Financial's dividend payout ratio is currently 65.57%.

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.