104,879 Shares in Alerus Financial Co. (NASDAQ:ALRS) Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC acquired a new position in shares of Alerus Financial Co. (NASDAQ:ALRS - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 104,879 shares of the company's stock, valued at approximately $2,018,000. Renaissance Technologies LLC owned 0.41% of Alerus Financial as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ALRS. JPMorgan Chase & Co. boosted its stake in shares of Alerus Financial by 207.4% during the third quarter. JPMorgan Chase & Co. now owns 24,214 shares of the company's stock valued at $554,000 after purchasing an additional 16,336 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Alerus Financial by 2,346.3% in the 4th quarter. Alliancebernstein L.P. now owns 287,931 shares of the company's stock valued at $5,540,000 after buying an additional 276,161 shares in the last quarter. Barclays PLC grew its position in shares of Alerus Financial by 58.8% in the 3rd 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 shares of Alerus Financial during the 4th quarter worth approximately $2,620,000. Finally, Empowered Funds LLC boosted its stake in Alerus Financial by 70.8% in the fourth quarter. Empowered Funds LLC now owns 80,184 shares of the company's stock valued at $1,543,000 after acquiring an additional 33,247 shares in the last quarter. Hedge funds and other institutional investors own 51.25% of the company's stock.

Analysts Set New Price Targets

ALRS has been the subject of a number of recent analyst reports. Raymond James reissued an "outperform" rating and issued a $24.00 price objective (up previously from $22.00) on shares of Alerus Financial in a research report on Thursday, January 30th. Keefe, Bruyette & Woods raised their price objective on Alerus Financial from $21.00 to $22.00 and gave the stock a "market perform" rating in a research report on Wednesday. DA Davidson reissued a "neutral" rating and issued a $23.00 price objective on shares of Alerus Financial in a research report on Thursday, January 30th. Finally, Piper Sandler raised their price objective on Alerus Financial from $21.00 to $24.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Alerus Financial has a consensus rating of "Hold" and a consensus price target of $23.20.

Alerus Financial Stock Performance

Shares of Alerus Financial stock traded down $0.15 during trading on Thursday, hitting $19.73. 7,555 shares of the company's stock were exchanged, compared to its average volume of 73,432. 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 has a 50-day simple moving average of $18.23 and a 200-day simple moving average of $20.21. Alerus Financial Co. has a 52-week low of $15.78 and a 52-week high of $24.41. The stock has a market capitalization of $503.33 million, a price-to-earnings ratio of 19.34 and a beta of 0.67.

Alerus Financial (NASDAQ:ALRS - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.13. Alerus Financial had a net margin of 6.26% and a return on equity of 7.66%. The firm had revenue of $68.79 million for the quarter, compared to analyst estimates of $66.20 million. On average, research analysts forecast that Alerus Financial Co. will post 2.14 EPS for the current year.

Alerus Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 14th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date was Friday, March 14th. Alerus Financial's dividend payout ratio (DPR) is 78.43%.

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.