Odyssean LLC Takes $584,000 Position in Alerus Financial $ALRS

Odyssean LLC bought a new position in Alerus Financial (NASDAQ:ALRS) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 18,781 shares of the company’s stock, valued at approximately $584,000.

A number of other large investors have also recently made changes to their positions in ALRS. BlackRock Inc. bought a new position in shares of Alerus Financial in the second quarter worth approximately $56,672,000. Pinnacle Holdings LLC bought a new stake in Alerus Financial during the second quarter valued at approximately $1,529,000. Dimensional Fund Advisors LP grew its stake in Alerus Financial by 6.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 886,815 shares of the company’s stock worth $21,027,000 after buying an additional 56,763 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Alerus Financial in the 1st quarter worth $1,951,000. Finally, Fortress Financial Group LLC purchased a new stake in shares of Alerus Financial during the 2nd quarter valued at $2,063,000. 51.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Raymond James Financial restated an “outperform” rating and set a $37.00 price target on shares of Alerus Financial in a research report on Monday, August 3rd. Keefe, Bruyette & Woods upped their price objective on Alerus Financial from $29.00 to $32.00 and gave the stock a “market perform” rating in a report on Friday, July 31st. DA Davidson set a $36.00 price objective on Alerus Financial in a research report on Friday, July 31st. Wall Street Zen cut Alerus Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Zacks Research lowered Alerus Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 20th. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $35.50.

Alerus Financial Stock Up 1.3%

Shares of NASDAQ:ALRS opened at $33.79 on Friday. The stock’s 50-day moving average is $32.60 and its 200 day moving average is $28.48. The company has a market cap of $842.38 million, a PE ratio of 31.88 and a beta of 0.67. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.90 and a quick ratio of 0.89. Alerus Financial has a 1 year low of $20.31 and a 1 year high of $34.40.

Alerus Financial (NASDAQ:ALRS) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. The business had revenue of $80.00 million during the quarter, compared to analysts’ expectations of $76.99 million. Alerus Financial had a return on equity of 14.41% and a net margin of 6.87%. Sell-side analysts anticipate that Alerus Financial will post 3.03 EPS for the current year.

Alerus Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $0.88 dividend on an annualized basis and a yield of 2.6%. Alerus Financial’s dividend payout ratio (DPR) is presently 83.02%.

Insiders Place Their Bets

In related news, Director Jeffrey Bolton purchased 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were acquired at an average price of $32.45 per share, for a total transaction of $32,450.00. Following the completion of the acquisition, the director directly owned 15,163 shares in the company, valued at approximately $492,039.35. The trade was a 7.06% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.30% of the stock is currently owned by company insiders.

About Alerus Financial

Alerus Financial Corporation (NASDAQ: ALRS) is a diversified financial services company headquartered in Grand Forks, North Dakota. The firm provides a full range of commercial and consumer banking products, including deposit accounts, lending solutions and treasury management services for individuals, small businesses and larger corporate clients. Through its community banking network, Alerus emphasizes local decision-making and personalized service to meet the needs of its varied client base.

In addition to traditional banking offerings, Alerus operates a national mortgage origination and servicing platform that delivers home purchase and refinance loans.