Jacobs Asset Management LLC Purchases Shares of 30,000 Alerus Financial Co. (NASDAQ:ALRS)

Jacobs Asset Management LLC bought a new stake in shares of Alerus Financial Co. (NASDAQ:ALRS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 30,000 shares of the company's stock, valued at approximately $577,000. Alerus Financial makes up 0.3% of Jacobs Asset Management LLC's portfolio, making the stock its 29th biggest position. Jacobs Asset Management LLC owned approximately 0.12% of Alerus Financial at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. FJ Capital Management LLC acquired a new stake in shares of Alerus Financial during the fourth quarter worth approximately $5,557,000. Deutsche Bank AG lifted its position in Alerus Financial by 85.0% in the 4th quarter. Deutsche Bank AG now owns 24,281 shares of the company's stock worth $467,000 after buying an additional 11,156 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Alerus Financial during the 4th quarter valued at $440,000. Cetera Investment Advisers purchased a new position in shares of Alerus Financial during the 4th quarter valued at $211,000. Finally, Bridgeway Capital Management LLC increased its stake in shares of Alerus Financial by 32.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 135,474 shares of the company's stock worth $2,607,000 after acquiring an additional 33,537 shares during the last quarter. Institutional investors and hedge funds own 51.25% of the company's stock.

Alerus Financial Stock Down 1.1%

Shares of NASDAQ:ALRS traded down $0.25 on Friday, reaching $22.00. The company had a trading volume of 90,849 shares, compared to its average volume of 75,067. The stock has a market capitalization of $558.05 million, a P/E ratio of 21.57 and a beta of 0.70. The stock has a 50-day moving average price of $18.54 and a 200 day moving average price of $20.03. Alerus Financial Co. has a twelve month low of $15.78 and a twelve month high of $24.41. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last announced its quarterly earnings results 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 return on equity of 7.66% and a net margin of 6.26%. The company had revenue of $68.79 million for the quarter, compared to the consensus estimate of $66.20 million. On average, equities analysts expect that Alerus Financial Co. will post 2.14 EPS for the current year.

Alerus Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 14th were paid a $0.20 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.64%. Alerus Financial's payout ratio is presently 65.57%.

Analyst Ratings Changes

Several analysts recently issued reports on ALRS shares. DA Davidson reiterated a "neutral" rating and set a $23.00 price objective on shares of Alerus Financial in a report on Thursday, January 30th. Piper Sandler boosted their price target on Alerus Financial from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Raymond James restated an "outperform" rating and issued a $24.00 price objective (up previously from $22.00) on shares of Alerus Financial in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods lifted their target price 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. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $23.00.

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.