Alerus Financial (NASDAQ:ALRS) Shares Purchased by Sippican Capital Advisors

Sippican Capital Advisors lifted its position in shares of Alerus Financial (NASDAQ:ALRS - Free Report) by 18.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 100,985 shares of the company's stock after buying an additional 15,780 shares during the quarter. Alerus Financial makes up 1.4% of Sippican Capital Advisors' investment portfolio, making the stock its 23rd largest position. Sippican Capital Advisors owned about 0.40% of Alerus Financial worth $1,864,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alliancebernstein L.P. grew its holdings in shares of Alerus Financial by 2,346.3% during the fourth quarter. Alliancebernstein L.P. now owns 287,931 shares of the company's stock worth $5,540,000 after buying an additional 276,161 shares in the last quarter. Barclays PLC grew its holdings in shares of Alerus Financial by 8.1% during the fourth quarter. Barclays PLC now owns 48,001 shares of the company's stock worth $924,000 after buying an additional 3,602 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Alerus Financial by 120.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 666,559 shares of the company's stock worth $12,824,000 after buying an additional 363,617 shares in the last quarter. Endeavour Capital Advisors Inc. boosted its position in shares of 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, MetLife Investment Management LLC grew its holdings in Alerus Financial by 24.6% in the fourth quarter. MetLife Investment Management LLC now owns 13,275 shares of the company's stock valued at $255,000 after purchasing an additional 2,620 shares during the period. 51.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALRS has been the subject of a number of recent analyst reports. Piper Sandler boosted 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. Keefe, Bruyette & Woods boosted their target price on shares of Alerus Financial from $21.00 to $22.00 and gave the company a "market perform" rating in a report on Wednesday, April 30th.

Alerus Financial Trading Up 1.8%

Alerus Financial stock traded up $0.41 during trading on Friday, reaching $22.84. The company had a trading volume of 62,642 shares, compared to its average volume of 74,931. Alerus Financial has a 12-month low of $15.78 and a 12-month high of $24.41. The stock's 50 day moving average price is $21.32 and its two-hundred day moving average price is $19.93. The firm has a market capitalization of $579.45 million, a price-to-earnings ratio of 18.72 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 (NASDAQ:ALRS - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.13. The firm had revenue of $68.79 million for the quarter, compared to analysts' expectations of $66.20 million. Alerus Financial had a net margin of 7.81% and a return on equity of 8.32%. As a group, equities analysts expect that Alerus Financial will post 2.14 earnings per share for the current fiscal year.

Alerus Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.68%. This is a boost from Alerus Financial's previous quarterly dividend of $0.20. The ex-dividend date is Friday, June 27th. Alerus Financial's payout ratio is 68.85%.

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.