Martingale Asset Management L P decreased its holdings in shares of Alerus Financial Co. (NASDAQ:ALRS – Get Rating) by 16.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,521 shares of the company’s stock after selling 3,600 shares during the period. Martingale Asset Management L P owned approximately 0.09% of Alerus Financial worth $442,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Alerus Financial NA lifted its position in Alerus Financial by 1.2% in the first quarter. Alerus Financial NA now owns 2,413,274 shares of the company’s stock valued at $66,703,000 after purchasing an additional 29,483 shares during the period. Capital Wealth Alliance LLC acquired a new stake in Alerus Financial in the second quarter valued at about $397,000. State Street Corp lifted its position in Alerus Financial by 3.9% in the first quarter. State Street Corp now owns 286,905 shares of the company’s stock valued at $7,975,000 after purchasing an additional 10,640 shares during the period. Mairs & Power Inc. lifted its position in Alerus Financial by 143.2% in the first quarter. Mairs & Power Inc. now owns 141,296 shares of the company’s stock valued at $3,905,000 after purchasing an additional 83,196 shares during the period. Finally, Elizabeth Park Capital Advisors Ltd. acquired a new stake in Alerus Financial in the first quarter valued at about $3,220,000. Institutional investors and hedge funds own 37.95% of the company’s stock.
Alerus Financial Price Performance
ALRS stock opened at $23.55 on Wednesday. The firm has a 50 day moving average of $22.49 and a 200-day moving average of $23.60. Alerus Financial Co. has a 12-month low of $20.20 and a 12-month high of $33.35. The company has a current ratio of 0.73, a quick ratio of 0.72 and a debt-to-equity ratio of 0.17. The company has a market cap of $470.69 million, a price-to-earnings ratio of 10.33 and a beta of 0.69.
Alerus Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.06%. Alerus Financial’s dividend payout ratio (DPR) is 31.58%.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on ALRS. Hovde Group reduced their price objective on shares of Alerus Financial to $27.00 in a research report on Tuesday, November 1st. Piper Sandler lifted their price target on shares of Alerus Financial to $25.00 in a research report on Tuesday, November 1st.
About Alerus Financial
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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