Hanson & Doremus Investment Management Takes Position in Alerus Financial (NASDAQ:ALRS)

Hanson & Doremus Investment Management purchased a new position in shares of Alerus Financial (NASDAQ:ALRS - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,540 shares of the company's stock, valued at approximately $287,000. Hanson & Doremus Investment Management owned about 0.06% of Alerus Financial at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ALRS. Tower Research Capital LLC TRC raised its position in shares of Alerus Financial by 457.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,277 shares of the company's stock worth $25,000 after acquiring an additional 1,048 shares during the last quarter. Legal & General Group Plc increased its position in Alerus Financial by 32.7% during the 4th quarter. Legal & General Group Plc now owns 2,025 shares of the company's stock valued at $39,000 after purchasing an additional 499 shares during the period. Summit Investment Advisors Inc. increased its position in Alerus Financial by 31.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,349 shares of the company's stock valued at $45,000 after purchasing an additional 568 shares during the period. BNP Paribas Financial Markets bought a new position in Alerus Financial during the 4th quarter worth approximately $56,000. Finally, New York State Common Retirement Fund lifted its position in shares of Alerus Financial by 41.7% in the 4th 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 period. Institutional investors and hedge funds own 51.25% of the company's stock.

Analyst Upgrades and Downgrades

ALRS has been the subject of several recent analyst reports. Piper Sandler increased their price objective on shares of Alerus Financial from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Keefe, Bruyette & Woods increased their price target on Alerus Financial from $21.00 to $22.00 and gave the stock a "market perform" rating in a report on Wednesday, April 30th.

Alerus Financial Trading Up 0.1%

Shares of ALRS stock traded up $0.03 during trading hours on Friday, hitting $21.09. 63,784 shares of the company were exchanged, compared to its average volume of 74,992. The company has a 50 day simple moving average of $20.22 and a two-hundred day simple moving average of $19.92. The firm has a market cap of $535.05 million, a P/E ratio of 17.29 and a beta of 0.70. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.87. Alerus Financial has a fifty-two week low of $15.78 and a fifty-two week high of $24.41.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.13. Alerus Financial had a net margin of 7.81% and a return on equity of 8.32%. The business had revenue of $68.79 million during the quarter, compared to analysts' expectations of $66.20 million. Equities analysts anticipate that Alerus Financial will post 2.14 EPS for the current year.

Alerus Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.98%. This is a positive change from Alerus Financial's previous quarterly dividend of $0.20. The ex-dividend date is Friday, June 27th. Alerus Financial's payout ratio is presently 65.57%.

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.