Alerus Financial Co. (NASDAQ:ALRS - Get Rating) CEO Katie A. Lorenson acquired 1,000 shares of Alerus Financial stock in a transaction on Thursday, June 16th. The shares were purchased at an average cost of $22.98 per share, with a total value of $22,980.00. Following the completion of the acquisition, the chief executive officer now owns 29,009 shares of the company's stock, valued at approximately $666,626.82. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of Alerus Financial stock traded up $0.26 during trading hours on Thursday, reaching $23.86. The company had a trading volume of 182 shares, compared to its average volume of 25,364. Alerus Financial Co. has a one year low of $22.40 and a one year high of $38.31. The business has a fifty day simple moving average of $25.27 and a 200 day simple moving average of $27.57. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.66 and a quick ratio of 0.65. The firm has a market cap of $412.54 million, a PE ratio of 8.77 and a beta of 0.75.
Alerus Financial (NASDAQ:ALRS - Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The company reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.03. Alerus Financial had a return on equity of 13.76% and a net margin of 20.86%. During the same period last year, the company earned $0.86 earnings per share. On average, research analysts forecast that Alerus Financial Co. will post 2.48 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 8th. Stockholders of record on Friday, June 17th will be issued a $0.18 dividend. This is a positive change from Alerus Financial's previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Thursday, June 16th. Alerus Financial's dividend payout ratio (DPR) is presently 26.77%.
Several institutional investors have recently bought and sold shares of ALRS. Lazard Asset Management LLC raised its position in shares of Alerus Financial by 71.1% in the first quarter. Lazard Asset Management LLC now owns 1,194 shares of the company's stock worth $33,000 after buying an additional 496 shares in the last quarter. Citigroup Inc. raised its position in shares of Alerus Financial by 144.2% in the third quarter. Citigroup Inc. now owns 1,751 shares of the company's stock worth $52,000 after buying an additional 1,034 shares in the last quarter. Invesco Ltd. raised its position in shares of Alerus Financial by 9.5% in the first quarter. Invesco Ltd. now owns 15,963 shares of the company's stock worth $441,000 after buying an additional 1,391 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Alerus Financial by 1.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 107,801 shares of the company's stock worth $2,980,000 after buying an additional 1,480 shares in the last quarter. Finally, John W. Rosenthal Capital Management Inc. raised its position in shares of Alerus Financial by 1.2% in the fourth quarter. John W. Rosenthal Capital Management Inc. now owns 137,818 shares of the company's stock worth $4,035,000 after buying an additional 1,600 shares in the last quarter. 39.47% of the stock is owned by hedge funds and other institutional investors.
Separately, Hovde Group assumed coverage on Alerus Financial in a report on Wednesday, May 18th. They issued a "market perform" rating and a $29.00 price target for the company.
About Alerus Financial (Get Rating)
Alerus Financial Corporation, through its subsidiary, Alerus Financial, National Association, provides various financial services to businesses and consumers. The company operates in four segments: Banking, Retirement and Benefit Services, Wealth Management, and Mortgage. It offers various deposit products, including demand deposits, interest-bearing transaction accounts, money market accounts, time and savings deposits, checking accounts, and certificates of deposit; and treasury management products, including electronic receivables management, remote deposit capture, cash vault services, merchant services, and other cash management services.
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