Alerus Financial Co. (NASDAQ:ALRS) Position Cut by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC trimmed its stake in Alerus Financial Co. (NASDAQ:ALRS) by 16.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 52,664 shares of the company’s stock after selling 10,100 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.21% of Alerus Financial worth $1,013,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. New York State Common Retirement Fund lifted its stake in Alerus Financial by 41.7% in the fourth quarter. New York State Common Retirement Fund now owns 6,451 shares of the company’s stock valued at $124,000 after buying an additional 1,900 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Alerus Financial by 5.1% during the third quarter. Empowered Funds LLC now owns 46,937 shares of the company’s stock valued at $1,074,000 after purchasing an additional 2,278 shares during the period. SG Americas Securities LLC increased its holdings in shares of Alerus Financial by 41.6% during the fourth quarter. SG Americas Securities LLC now owns 8,812 shares of the company’s stock valued at $170,000 after purchasing an additional 2,590 shares during the period. Inspire Investing LLC increased its holdings in shares of Alerus Financial by 14.9% during the fourth quarter. Inspire Investing LLC now owns 20,947 shares of the company’s stock valued at $403,000 after purchasing an additional 2,717 shares during the period. Finally, State Street Corp increased its holdings in shares of Alerus Financial by 1.0% during the third quarter. State Street Corp now owns 351,775 shares of the company’s stock valued at $8,118,000 after purchasing an additional 3,623 shares during the period. 51.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on ALRS shares. DA Davidson reissued a “neutral” rating and set a $23.00 price target on shares of Alerus Financial in a report on Thursday, January 30th. Piper Sandler raised their price target on Alerus Financial from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods lifted their target price on Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Raymond James reaffirmed an “outperform” rating and set a $24.00 target price (up from $22.00) on shares of Alerus Financial in a report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $23.40.

Alerus Financial Trading Up 0.5 %

Shares of NASDAQ ALRS opened at $20.37 on Friday. Alerus Financial Co. has a one year low of $17.99 and a one year high of $24.41. The firm has a market capitalization of $516.14 million, a PE ratio of 19.97 and a beta of 0.71. 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 business has a 50-day moving average price of $20.27 and a two-hundred day moving average price of $21.45.

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%. As a group, analysts predict that Alerus Financial Co. will post 2.14 earnings per share for the current fiscal year.

Alerus Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 3.93%. Alerus Financial’s dividend payout ratio is 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.