Two Sigma Investments LP Increases Stock Position in Alerus Financial Co. (NASDAQ:ALRS)

Two Sigma Investments LP raised its stake in shares of Alerus Financial Co. (NASDAQ:ALRS - Free Report) by 34.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,188 shares of the company's stock after purchasing an additional 17,360 shares during the quarter. Two Sigma Investments LP owned about 0.27% of Alerus Financial worth $1,293,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Nuveen Asset Management LLC increased its stake in Alerus Financial by 6.5% during the 4th quarter. Nuveen Asset Management LLC now owns 48,150 shares of the company's stock valued at $926,000 after purchasing an additional 2,933 shares in the last quarter. Millennium Management LLC increased its stake in Alerus Financial by 42.8% during the 4th quarter. Millennium Management LLC now owns 56,379 shares of the company's stock valued at $1,085,000 after purchasing an additional 16,905 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in 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 valued at $248,000 after purchasing an additional 3,099 shares in the last quarter. Jacobs Asset Management LLC acquired a new position in Alerus Financial during the 4th quarter valued at approximately $577,000. Finally, FJ Capital Management LLC acquired a new position in Alerus Financial during the 4th quarter valued at approximately $5,557,000. Institutional investors and hedge funds own 51.25% of the company's stock.

Analyst Upgrades and Downgrades

ALRS has been the topic of several recent research reports. Keefe, Bruyette & Woods upped their price objective 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. Piper Sandler upped their price objective 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 Performance

Shares of ALRS stock traded up $0.29 during trading hours on Friday, hitting $21.35. The company's stock had a trading volume of 53,094 shares, compared to its average volume of 74,452. The company has a 50 day moving average of $19.41 and a 200 day moving average of $19.96. The stock has a market cap of $541.56 million, a PE ratio of 20.93 and a beta of 0.70. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. Alerus Financial Co. has a 12-month low of $15.78 and a 12-month high of $24.41.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The company reported $0.56 EPS for the quarter, beating 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 the consensus estimate of $66.20 million. On average, sell-side analysts forecast that Alerus Financial Co. will post 2.14 EPS for the current fiscal year.

Alerus Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, June 27th. This is an increase from Alerus Financial's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 3.93%. Alerus Financial's dividend payout ratio is 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.