Cetera Advisors LLC Makes New $638,000 Investment in Alerus Financial Co. (NASDAQ:ALRS)

Cetera Advisors LLC acquired a new position in shares of Alerus Financial Co. (NASDAQ:ALRS - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,212 shares of the company's stock, valued at approximately $638,000. Cetera Advisors LLC owned about 0.15% of Alerus Financial at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ALRS. Cutler Capital Management LLC grew its position in Alerus Financial by 0.5% during the 4th quarter. Cutler Capital Management LLC now owns 157,480 shares of the company's stock worth $3,526,000 after acquiring an additional 829 shares during the last quarter. ICA Group Wealth Management LLC acquired a new position in Alerus Financial during the 4th quarter worth about $81,000. Sippican Capital Advisors grew its holdings in Alerus Financial by 11.9% during the 1st quarter. Sippican Capital Advisors now owns 67,390 shares of the company's stock worth $1,471,000 after acquiring an additional 7,185 shares during the last quarter. Harbor Advisors LLC acquired a new stake in Alerus Financial in the 4th quarter valued at about $221,000. Finally, Empowered Funds LLC raised its stake in shares of Alerus Financial by 44.0% in the first quarter. Empowered Funds LLC now owns 41,599 shares of the company's stock worth $908,000 after acquiring an additional 12,719 shares during the last quarter. Institutional investors and hedge funds own 51.25% of the company's stock.

Alerus Financial Trading Down 1.5 %

ALRS traded down $0.31 during mid-day trading on Monday, hitting $20.65. The stock had a trading volume of 37,633 shares, compared to its average volume of 53,121. The stock's fifty day simple moving average is $20.01 and its 200-day simple moving average is $20.72. The firm has a market capitalization of $408.40 million, a price-to-earnings ratio of 42.14 and a beta of 0.66. Alerus Financial Co. has a 1-year low of $16.80 and a 1-year high of $25.85. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.86 and a quick ratio of 0.85.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.06). The business had revenue of $80.39 million for the quarter, compared to analyst estimates of $49.20 million. Alerus Financial had a return on equity of 7.30% and a net margin of 2.39%. During the same period in the previous year, the business posted $0.45 EPS. As a group, research analysts forecast that Alerus Financial Co. will post 1.2 EPS for the current fiscal year.

Alerus Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 14th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, June 14th. This is a positive change from Alerus Financial's previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 3.87%. Alerus Financial's payout ratio is currently 163.27%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Piper Sandler upped their price objective on Alerus Financial from $22.50 to $24.00 and gave the stock a "neutral" rating in a report on Monday, July 29th. Keefe, Bruyette & Woods lifted their price objective on Alerus Financial from $22.00 to $23.00 and gave the stock a "market perform" rating in a research report on Monday, July 29th. Hovde Group upgraded shares of Alerus Financial from a "market perform" rating to an "outperform" rating and upped their target price for the company from $21.00 to $23.00 in a research report on Thursday, May 16th. Finally, DA Davidson lifted their price target on shares of Alerus Financial from $20.00 to $23.00 and gave the stock a "neutral" rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Alerus Financial has a consensus rating of "Hold" and a consensus target price of $23.25.

Alerus Financial Company 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.