Alliancebernstein L.P. Boosts Stake in Alerus Financial Co. (NASDAQ:ALRS)

Alliancebernstein L.P. boosted its holdings in shares of Alerus Financial Co. (NASDAQ:ALRS) by 2,346.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 287,931 shares of the company’s stock after purchasing an additional 276,161 shares during the quarter. Alliancebernstein L.P. owned approximately 1.14% of Alerus Financial worth $5,540,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Alerus Financial NA raised its stake in Alerus Financial by 0.3% in the 4th quarter. Alerus Financial NA now owns 2,130,638 shares of the company’s stock valued at $40,993,000 after purchasing an additional 5,915 shares during the last quarter. Vanguard Group Inc. raised its holdings in Alerus Financial by 11.2% in the 4th quarter. Vanguard Group Inc. now owns 1,054,829 shares of the company’s stock valued at $20,295,000 after acquiring an additional 106,116 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Alerus Financial by 4.0% in the third quarter. Geode Capital Management LLC now owns 416,072 shares of the company’s stock valued at $9,522,000 after purchasing an additional 15,966 shares during the last quarter. State Street Corp lifted its position in Alerus Financial by 1.0% during the third quarter. State Street Corp now owns 351,775 shares of the company’s stock worth $8,118,000 after buying an additional 3,623 shares in the last quarter. Finally, Grace & White Inc. NY acquired a new position in Alerus Financial during the fourth quarter worth $4,930,000. 51.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ALRS shares. DA Davidson reaffirmed a “neutral” rating and issued a $23.00 target price on shares of Alerus Financial in a research note on Thursday, January 30th. Raymond James reiterated an “outperform” rating and set a $24.00 price target (up from $22.00) on shares of Alerus Financial in a report on Thursday, January 30th. Finally, Piper Sandler upped their target price on shares of Alerus Financial from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Alerus Financial has a consensus rating of “Hold” and an average price target of $23.40.

Alerus Financial Trading Down 0.1 %

Shares of ALRS stock opened at $16.11 on Friday. Alerus Financial Co. has a fifty-two week low of $15.78 and a fifty-two week high of $24.41. The company has a 50 day moving average price of $19.24 and a 200 day moving average price of $20.64. 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 stock has a market capitalization of $410.98 million, a P/E ratio of 15.79 and a beta of 0.67.

Alerus Financial (NASDAQ:ALRS) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.16. Alerus Financial had a return on equity of 7.66% and a net margin of 6.26%. Equities research analysts predict that Alerus Financial Co. will post 2.14 EPS for the current fiscal year.

Alerus Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 14th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.97%. The ex-dividend date was Friday, March 14th. Alerus Financial’s dividend payout ratio (DPR) is presently 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.