Sippican Capital Advisors Has $1.86 Million Holdings in Alerus Financial (NASDAQ:ALRS)

Sippican Capital Advisors grew its holdings in Alerus Financial (NASDAQ:ALRS - Free Report) by 18.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 100,985 shares of the company's stock after purchasing an additional 15,780 shares during the quarter. Alerus Financial comprises 1.4% of Sippican Capital Advisors' portfolio, making the stock its 23rd biggest holding. Sippican Capital Advisors owned approximately 0.40% of Alerus Financial worth $1,864,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Hanson & Doremus Investment Management bought a new stake in shares of Alerus Financial in the first quarter valued at about $287,000. Two Sigma Investments LP lifted its position in shares of Alerus Financial by 34.8% in the 4th quarter. Two Sigma Investments LP now owns 67,188 shares of the company's stock worth $1,293,000 after acquiring an additional 17,360 shares during the period. Nuveen Asset Management LLC grew its holdings in shares of Alerus Financial by 6.5% during the 4th quarter. Nuveen Asset Management LLC now owns 48,150 shares of the company's stock worth $926,000 after purchasing an additional 2,933 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Alerus Financial by 42.8% during the 4th quarter. Millennium Management LLC now owns 56,379 shares of the company's stock worth $1,085,000 after purchasing an additional 16,905 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Alerus Financial by 31.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,874 shares of the company's stock worth $248,000 after purchasing an additional 3,099 shares in the last quarter. 51.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ALRS. Piper Sandler upped their target price on 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 increased 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.

Alerus Financial Price Performance

Shares of ALRS stock traded up $0.26 during trading hours on Wednesday, hitting $22.43. The company had a trading volume of 62,893 shares, compared to its average volume of 74,387. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market capitalization of $569.05 million, a price-to-earnings ratio of 18.39 and a beta of 0.70. Alerus Financial has a 12 month low of $15.78 and a 12 month high of $24.41. The firm's fifty day moving average is $21.03 and its 200 day moving average is $19.90.

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 return on equity of 8.32% and a net margin of 7.81%. On average, sell-side analysts predict that Alerus Financial will post 2.14 EPS for the current fiscal year.

Alerus Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a $0.21 dividend. This is a positive change from Alerus Financial's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.84 annualized dividend and a dividend yield of 3.74%. Alerus Financial's dividend payout ratio is presently 68.85%.

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.