Keeley Teton Advisors LLC Increases Stock Position in Alerus Financial Co. (NASDAQ:ALRS)

Keeley Teton Advisors LLC increased its holdings in Alerus Financial Co. (NASDAQ:ALRS - Free Report) by 88.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 169,419 shares of the company's stock after acquiring an additional 79,598 shares during the quarter. Keeley Teton Advisors LLC owned approximately 0.67% of Alerus Financial worth $3,260,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ALRS. XTX Topco Ltd acquired a new position in Alerus Financial in the fourth quarter valued at $337,000. Barclays PLC increased its position in Alerus Financial by 8.1% in the 4th quarter. Barclays PLC now owns 48,001 shares of the company's stock valued at $924,000 after acquiring an additional 3,602 shares during the period. Summit Investment Advisors Inc. increased its position in Alerus Financial by 31.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,349 shares of the company's stock valued at $45,000 after acquiring an additional 568 shares during the period. Pinnacle Holdings LLC purchased a new stake in Alerus Financial during the 4th quarter valued at approximately $943,000. Finally, Renaissance Technologies LLC acquired a new stake in Alerus Financial during the 4th quarter worth approximately $2,018,000. Hedge funds and other institutional investors own 51.25% of the company's stock.

Analyst Upgrades and Downgrades

ALRS has been the topic of a number of recent research reports. DA Davidson reissued a "neutral" rating and issued a $23.00 target price on shares of Alerus Financial in a report on Thursday, January 30th. Piper Sandler boosted their price objective on shares of Alerus Financial from $21.00 to $24.00 and gave the company a "neutral" rating in a research note on Thursday, January 30th. Finally, Raymond James restated an "outperform" rating and issued a $24.00 target price (up previously from $22.00) on shares of Alerus Financial in a research note 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's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $23.40.

Alerus Financial Price Performance

NASDAQ:ALRS traded up $0.33 during trading hours on Friday, hitting $17.00. The company's stock had a trading volume of 71,766 shares, compared to its average volume of 72,892. Alerus Financial Co. has a 52-week low of $15.78 and a 52-week high of $24.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.85 and a current ratio of 0.85. The business's 50-day moving average is $18.74 and its two-hundred day moving average is $20.45. The company has a market capitalization of $433.69 million, a PE ratio of 16.67 and a beta of 0.67.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.16. Alerus Financial had a net margin of 6.26% and a return on equity of 7.66%. As a group, research analysts anticipate that Alerus Financial Co. will post 2.14 EPS for the current fiscal year.

Alerus Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 14th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend was Friday, March 14th. Alerus Financial's dividend payout ratio (DPR) is 78.43%.

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.