Choreo LLC Has $5.33 Million Stock Position in Alerus Financial (NASDAQ:ALRS)

Choreo LLC boosted its position in shares of Alerus Financial (NASDAQ:ALRS - Free Report) by 112.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 285,815 shares of the company's stock after acquiring an additional 151,045 shares during the quarter. Choreo LLC owned 1.12% of Alerus Financial worth $5,333,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its holdings in Alerus Financial by 457.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,277 shares of the company's stock valued at $25,000 after purchasing an additional 1,048 shares during the last quarter. Legal & General Group Plc lifted its stake in Alerus Financial by 32.7% in the 4th quarter. Legal & General Group Plc now owns 2,025 shares of the company's stock worth $39,000 after purchasing an additional 499 shares in the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of Alerus Financial by 31.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,349 shares of the company's stock worth $45,000 after buying an additional 568 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Alerus Financial during the 4th quarter valued at approximately $56,000. Finally, Aquatic Capital Management LLC purchased a new stake in shares of Alerus Financial during the 4th quarter valued at approximately $159,000. 51.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Keefe, Bruyette & Woods boosted their target price on Alerus Financial from $21.00 to $22.00 and gave the company a "market perform" rating in a research report on Wednesday, April 30th. Piper Sandler upped their target price on shares of Alerus Financial from $22.00 to $23.00 and gave the company a "neutral" rating in a report on Friday, May 2nd.

Alerus Financial Stock Down 0.3%

Alerus Financial stock traded down $0.07 during midday trading on Friday, hitting $21.58. 32,997 shares of the stock were exchanged, compared to its average volume of 74,439. Alerus Financial has a 1 year low of $15.78 and a 1 year high of $24.41. The firm has a market cap of $547.36 million, a P/E ratio of 17.68 and a beta of 0.70. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.87 and a quick ratio of 0.87. The company has a 50 day moving average price of $21.70 and a two-hundred day moving average price of $20.20.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last posted its earnings results on Monday, April 28th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.13. The firm had revenue of $68.79 million during the quarter, compared to analyst estimates of $66.20 million. Alerus Financial had a net margin of 7.81% and a return on equity of 8.32%. On average, sell-side analysts predict that Alerus Financial will post 2.14 earnings per share for the current fiscal year.

Alerus Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.89%. This is a positive change from Alerus Financial's previous quarterly dividend of $0.20. Alerus Financial's payout ratio is currently 68.85%.

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.