Alerus Financial Co. (NASDAQ:ALRS) Shares Purchased by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC boosted its position in shares of Alerus Financial Co. (NASDAQ:ALRSGet Rating) by 229.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,950 shares of the company’s stock after acquiring an additional 2,750 shares during the period. Nisa Investment Advisors LLC’s holdings in Alerus Financial were worth $94,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ALRS. Lazard Asset Management LLC grew its holdings in shares of Alerus Financial by 71.1% during the first quarter. Lazard Asset Management LLC now owns 1,194 shares of the company’s stock worth $33,000 after purchasing an additional 496 shares during the last quarter. Amalgamated Bank purchased a new position in shares of Alerus Financial in the 1st quarter valued at about $50,000. SG Americas Securities LLC acquired a new stake in shares of Alerus Financial during the 2nd quarter valued at approximately $144,000. Acadian Asset Management LLC boosted its position in Alerus Financial by 164.2% during the first quarter. Acadian Asset Management LLC now owns 6,726 shares of the company’s stock worth $185,000 after purchasing an additional 4,180 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of Alerus Financial by 50.7% in the 1st quarter. MetLife Investment Management LLC now owns 7,325 shares of the company’s stock worth $202,000 after buying an additional 2,463 shares in the last quarter. Institutional investors and hedge funds own 37.95% of the company’s stock.

Alerus Financial Stock Performance

Shares of NASDAQ ALRS opened at $21.70 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.67 and a debt-to-equity ratio of 0.19. The stock’s 50 day moving average price is $22.67 and its two-hundred day moving average price is $23.85. Alerus Financial Co. has a 52-week low of $20.20 and a 52-week high of $38.31. The stock has a market capitalization of $433.72 million, a P/E ratio of 9.50 and a beta of 0.69.

Alerus Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 23rd will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, December 22nd. This represents a $0.72 annualized dividend and a yield of 3.32%. Alerus Financial’s payout ratio is 31.58%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Piper Sandler boosted their price objective on shares of Alerus Financial to $25.00 in a research note on Tuesday, November 1st. Hovde Group dropped their price target on shares of Alerus Financial to $27.00 in a research note on Tuesday, November 1st.

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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Institutional Ownership by Quarter for Alerus Financial (NASDAQ:ALRS)

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