Geode Capital Management LLC Purchases 108,123 Shares of Alerus Financial Co. (NASDAQ:ALRS)

Geode Capital Management LLC increased its position in Alerus Financial Co. (NASDAQ:ALRS - Free Report) by 26.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 524,195 shares of the company's stock after purchasing an additional 108,123 shares during the quarter. Geode Capital Management LLC owned approximately 2.07% of Alerus Financial worth $10,088,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in Alerus Financial by 207.4% in the third quarter. JPMorgan Chase & Co. now owns 24,214 shares of the company's stock worth $554,000 after purchasing an additional 16,336 shares during the period. Alliancebernstein L.P. increased its position in Alerus Financial by 2,346.3% in the fourth quarter. Alliancebernstein L.P. now owns 287,931 shares of the company's stock worth $5,540,000 after purchasing an additional 276,161 shares during the period. Barclays PLC boosted its holdings in Alerus Financial by 58.8% during the third quarter. Barclays PLC now owns 44,399 shares of the company's stock worth $1,017,000 after buying an additional 16,436 shares during the last quarter. Choreo LLC bought a new position in Alerus Financial during the fourth quarter worth about $2,620,000. Finally, Empowered Funds LLC boosted its holdings in Alerus Financial by 70.8% during the fourth quarter. Empowered Funds LLC now owns 80,184 shares of the company's stock worth $1,543,000 after buying an additional 33,247 shares during the last quarter. 51.25% of the stock is currently owned by institutional investors and hedge funds.

Alerus Financial Stock Up 0.2 %

Shares of NASDAQ:ALRS traded up $0.04 during trading on Monday, hitting $17.76. 49,666 shares of the company's stock traded hands, compared to its average volume of 73,260. Alerus Financial Co. has a 52 week low of $15.78 and a 52 week high of $24.41. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. The company has a market cap of $453.08 million, a price-to-earnings ratio of 17.41 and a beta of 0.67. The company has a 50-day moving average price of $18.26 and a 200-day moving average price of $20.22.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.13. Alerus Financial had a return on equity of 7.66% and a net margin of 6.26%. As a group, research analysts forecast that Alerus Financial Co. will post 2.14 EPS for the current fiscal year.

Alerus Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 14th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.50%. The ex-dividend date was Friday, March 14th. Alerus Financial's dividend payout ratio (DPR) is presently 78.43%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ALRS. Raymond James restated an "outperform" rating and set a $24.00 target price (up previously from $22.00) on shares of Alerus Financial in a report on Thursday, January 30th. DA Davidson restated a "neutral" rating and set a $23.00 target price on shares of Alerus Financial in a report on Thursday, January 30th. Finally, Piper Sandler raised their target price on Alerus Financial from $21.00 to $24.00 and gave the stock a "neutral" rating in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Alerus Financial has a consensus rating of "Hold" and an average price target of $23.40.

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.