Alerus Financial Co. (NASDAQ:ALRS) Shares Acquired by Northern Trust Corp

Northern Trust Corp lifted its position in shares of Alerus Financial Co. (NASDAQ:ALRS) by 18.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 201,291 shares of the company’s stock after acquiring an additional 30,821 shares during the quarter. Northern Trust Corp owned 0.79% of Alerus Financial worth $3,873,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ALRS. Tower Research Capital LLC TRC increased its stake in shares of Alerus Financial by 457.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,277 shares of the company’s stock worth $25,000 after acquiring an additional 1,048 shares during the period. Legal & General Group Plc increased its stake in shares of Alerus Financial by 32.7% during the fourth quarter. Legal & General Group Plc now owns 2,025 shares of the company’s stock worth $39,000 after acquiring an additional 499 shares during the period. Summit Investment Advisors Inc. increased its stake in shares of Alerus Financial by 31.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,349 shares of the company’s stock worth $45,000 after acquiring an additional 568 shares during the period. New York State Common Retirement Fund increased its stake in shares of Alerus Financial by 41.7% during the fourth quarter. New York State Common Retirement Fund now owns 6,451 shares of the company’s stock worth $124,000 after acquiring an additional 1,900 shares during the period. Finally, Aquatic Capital Management LLC acquired a new position in Alerus Financial during the fourth quarter worth about $159,000. 51.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on ALRS. Raymond James restated an “outperform” rating and set a $24.00 target price (up from $22.00) on shares of Alerus Financial in a research report on Thursday, January 30th. Piper Sandler upped their target price on shares of Alerus Financial from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Keefe, Bruyette & Woods upped their target price on shares of Alerus Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 30th. Finally, DA Davidson restated a “neutral” rating and set a $23.00 target price on shares of Alerus Financial in a research report on Thursday, January 30th.

Alerus Financial Trading Down 1.3%

Shares of ALRS opened at $20.97 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average is $18.87 and its two-hundred day moving average is $20.06. Alerus Financial Co. has a twelve month low of $15.78 and a twelve month high of $24.41. The firm has a market capitalization of $531.93 million, a P/E ratio of 20.56 and a beta of 0.70.

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

Alerus Financial Announces Dividend

The firm 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 dividend yield of 3.81%. The ex-dividend date of this dividend was Friday, March 14th. Alerus Financial’s dividend payout ratio (DPR) is presently 65.57%.

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.