Barclays PLC Increases Stock Holdings in Alerus Financial Co. (NASDAQ:ALRS)

Barclays PLC raised its stake in Alerus Financial Co. (NASDAQ:ALRS) by 58.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,399 shares of the company’s stock after buying an additional 16,436 shares during the quarter. Barclays PLC’s holdings in Alerus Financial were worth $1,017,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Federated Hermes Inc. lifted its position in Alerus Financial by 380.7% in the second quarter. Federated Hermes Inc. now owns 1,519 shares of the company’s stock valued at $30,000 after buying an additional 1,203 shares during the last quarter. SG Americas Securities LLC acquired a new position in Alerus Financial in the third quarter valued at about $142,000. Harbor Advisors LLC acquired a new position in Alerus Financial in the third quarter valued at about $226,000. Inspire Investing LLC acquired a new position in Alerus Financial in the third quarter valued at about $417,000. Finally, Walleye Capital LLC acquired a new position in Alerus Financial in the third quarter valued at about $424,000. Institutional investors and hedge funds own 51.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on ALRS shares. Keefe, Bruyette & Woods upped their target price on shares of Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Raymond James raised shares of Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price target on the stock in a research report on Tuesday, September 17th. Finally, Piper Sandler reduced their price target on shares of Alerus Financial from $24.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $23.20.

Alerus Financial Stock Down 1.0 %

Shares of ALRS opened at $19.03 on Tuesday. The stock has a market capitalization of $482.18 million, a PE ratio of 118.94 and a beta of 0.69. Alerus Financial Co. has a 1 year low of $18.09 and a 1 year high of $25.85. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.85 and a current ratio of 0.85. The company’s 50-day simple moving average is $21.74 and its 200-day simple moving average is $21.42.

Alerus Financial (NASDAQ:ALRS) last issued its earnings results on Tuesday, October 29th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.18). The firm had revenue of $80.58 million during the quarter, compared to analyst estimates of $52.30 million. Alerus Financial had a net margin of 1.01% and a return on equity of 6.02%. During the same period last year, the business earned $0.45 EPS. Analysts forecast that Alerus Financial Co. will post 0.97 earnings per share for the current fiscal year.

Alerus Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, December 27th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.80 annualized dividend and a yield of 4.20%. Alerus Financial’s dividend payout ratio (DPR) is 500.00%.

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.