Hanson & Doremus Investment Management acquired a new stake in Alerus Financial Co. (NASDAQ:ALRS - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 15,540 shares of the company's stock, valued at approximately $287,000. Hanson & Doremus Investment Management owned about 0.06% of Alerus Financial as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its position in shares of Alerus Financial by 457.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,277 shares of the company's stock worth $25,000 after buying an additional 1,048 shares in the last quarter. Legal & General Group Plc grew its position in Alerus Financial by 32.7% during the fourth 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 in the last quarter. Summit Investment Advisors Inc. grew its position in Alerus Financial by 31.9% during the fourth 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 in the last quarter. BNP Paribas Financial Markets purchased a new position in Alerus Financial during the fourth quarter valued at approximately $56,000. Finally, New York State Common Retirement Fund lifted its stake in 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 valued at $124,000 after acquiring an additional 1,900 shares during the last quarter. 51.25% of the stock is currently owned by institutional investors.
Alerus Financial Trading Up 0.5%
Shares of Alerus Financial stock opened at $21.05 on Tuesday. The firm has a market capitalization of $533.95 million, a PE ratio of 20.64 and a beta of 0.70. 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's fifty day moving average price is $19.95 and its two-hundred day moving average price is $19.91. Alerus Financial Co. has a 52-week low of $15.78 and a 52-week high of $24.41.
Alerus Financial (NASDAQ:ALRS - Get Free Report) last posted its earnings results on Monday, April 28th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.13. Alerus Financial had a net margin of 6.26% and a return on equity of 7.66%. The business had revenue of $68.79 million for the quarter, compared to analyst estimates of $66.20 million. On average, analysts expect that Alerus Financial Co. will post 2.14 EPS for the current year.
Alerus Financial Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend is Friday, June 27th. This is a boost from Alerus Financial's previous quarterly dividend of $0.20. Alerus Financial's dividend payout ratio (DPR) is presently 68.85%.
Analyst Ratings Changes
A number of analysts have issued reports on the stock. Piper Sandler lifted their target price on shares of Alerus Financial from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Keefe, Bruyette & Woods boosted their target price on shares of Alerus Financial from $21.00 to $22.00 and gave the stock a "market perform" rating in a research report on Wednesday, April 30th.
View Our Latest Report on Alerus Financial
About Alerus Financial
(
Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Alerus Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alerus Financial wasn't on the list.
While Alerus Financial currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
