Invesco Ltd. Acquires 717 Shares of Alerus Financial Co. (NASDAQ:ALRS)

Invesco Ltd. raised its holdings in Alerus Financial Co. (NASDAQ:ALRS) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,215 shares of the company’s stock after purchasing an additional 717 shares during the quarter. Invesco Ltd. owned 0.13% of Alerus Financial worth $639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. New York State Common Retirement Fund boosted its holdings in shares of Alerus Financial by 41.7% in the 4th quarter. New York State Common Retirement Fund now owns 6,451 shares of the company’s stock worth $124,000 after buying an additional 1,900 shares during the last quarter. SG Americas Securities LLC boosted its stake in Alerus Financial by 41.6% in the fourth quarter. SG Americas Securities LLC now owns 8,812 shares of the company’s stock valued at $170,000 after acquiring an additional 2,590 shares during the last quarter. ExodusPoint Capital Management LP bought a new position in shares of Alerus Financial during the 4th quarter valued at approximately $204,000. Corebridge Financial Inc. increased its stake in shares of Alerus Financial by 17.1% during the 4th quarter. Corebridge Financial Inc. now owns 11,164 shares of the company’s stock worth $215,000 after purchasing an additional 1,628 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Alerus Financial in the 4th quarter worth approximately $234,000. Institutional investors own 51.25% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on ALRS shares. Raymond James reissued an “outperform” rating and issued a $24.00 target price (up from $22.00) on shares of Alerus Financial in a research report on Thursday, January 30th. DA Davidson reissued a “neutral” rating and issued a $23.00 price objective on shares of Alerus Financial in a report on Thursday, January 30th. Keefe, Bruyette & Woods upped their price objective on shares of Alerus Financial from $21.00 to $22.00 and gave the company a “market perform” rating in a report on Wednesday. Finally, Piper Sandler lifted their target price on shares of Alerus Financial from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $23.00.

Alerus Financial Stock Performance

NASDAQ:ALRS opened at $20.64 on Friday. The business’s fifty day moving average is $18.22 and its 200 day moving average is $20.17. The firm has a market cap of $526.55 million, a price-to-earnings ratio of 20.24 and a beta of 0.67. 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 Co. has a 52-week low of $15.78 and a 52-week high of $24.41.

Alerus Financial (NASDAQ:ALRS) last announced its quarterly earnings results on Monday, April 28th. The company reported $0.56 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $66.20 million. Research analysts predict that Alerus Financial Co. will post 2.14 EPS for the current year.

Alerus Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 14th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend was Friday, March 14th. Alerus Financial’s payout ratio is 78.43%.

Alerus Financial Company 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.