Alerus Financial Co. (NASDAQ:ALRS) Stock Position Raised by Legal & General Group Plc

Legal & General Group Plc boosted its holdings in Alerus Financial Co. (NASDAQ:ALRS) by 32.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,025 shares of the company’s stock after acquiring an additional 499 shares during the period. Legal & General Group Plc’s holdings in Alerus Financial were worth $39,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ALRS. Alerus Financial NA lifted its holdings in shares of Alerus Financial by 0.3% in the 4th quarter. Alerus Financial NA now owns 2,130,638 shares of the company’s stock worth $40,993,000 after purchasing an additional 5,915 shares during the last quarter. Vanguard Group Inc. lifted its stake in Alerus Financial by 11.2% in the fourth quarter. Vanguard Group Inc. now owns 1,054,829 shares of the company’s stock valued at $20,295,000 after buying an additional 106,116 shares during the last quarter. Endeavour Capital Advisors Inc. grew its position in shares of Alerus Financial by 77.3% during the fourth quarter. Endeavour Capital Advisors Inc. now owns 527,283 shares of the company’s stock worth $10,145,000 after acquiring an additional 229,932 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Alerus Financial by 26.0% in the 4th quarter. Geode Capital Management LLC now owns 524,195 shares of the company’s stock worth $10,088,000 after acquiring an additional 108,123 shares during the period. Finally, Alliancebernstein L.P. lifted its position in 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 purchasing an additional 276,161 shares during the last quarter. 51.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALRS has been the topic of several analyst reports. DA Davidson restated a “neutral” rating and issued a $23.00 price target 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 previously from $22.00) on shares of Alerus Financial in a research report on Thursday, January 30th. Keefe, Bruyette & Woods raised their price target on Alerus Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a report on Wednesday. Finally, Piper Sandler raised their target price on shares of Alerus Financial from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $23.20.

Alerus Financial Stock Up 1.1 %

Shares of NASDAQ:ALRS opened at $20.10 on Friday. The firm has a 50 day simple moving average of $18.22 and a 200 day simple moving average of $20.19. The company has a market cap of $512.77 million, a PE ratio of 19.71 and a beta of 0.67. Alerus Financial Co. has a 52 week low of $15.78 and a 52 week high of $24.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.85 and a current ratio of 0.85.

Alerus Financial (NASDAQ:ALRS) last announced its quarterly earnings data on Monday, April 28th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.13. Alerus Financial had a return on equity of 7.66% and a net margin of 6.26%. The firm had revenue of $68.79 million during the quarter, compared to the consensus estimate of $66.20 million. As a group, research analysts expect that Alerus Financial Co. will post 2.14 earnings per share for the current year.

Alerus Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 14th were paid a $0.20 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 3.98%. Alerus Financial’s dividend payout ratio is presently 78.43%.

About Alerus Financial

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.