Alerus Financial Co. (NASDAQ:ALRS) Shares Bought by Barclays PLC

Barclays PLC grew its stake in Alerus Financial Co. (NASDAQ:ALRS) by 58.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,399 shares of the company’s stock after purchasing an additional 16,436 shares during the quarter. Barclays PLC’s holdings in Alerus Financial were worth $1,017,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ALRS. Federated Hermes Inc. lifted its stake in Alerus Financial by 380.7% in the 2nd 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 in the last quarter. Empowered Funds LLC raised 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 acquiring an additional 2,278 shares during the last quarter. State Street Corp lifted its position in shares of Alerus Financial by 1.0% in the third quarter. State Street Corp now owns 351,775 shares of the company’s stock valued at $8,118,000 after acquiring an additional 3,623 shares in the last quarter. Sippican Capital Advisors boosted its stake in shares of Alerus Financial by 4.8% in the third quarter. Sippican Capital Advisors now owns 80,525 shares of the company’s stock worth $1,842,000 after acquiring an additional 3,665 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Alerus Financial by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 149,280 shares of the company’s stock worth $3,416,000 after purchasing an additional 5,184 shares in the last quarter. Hedge funds and other institutional investors own 51.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Piper Sandler decreased their price objective on Alerus Financial from $24.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Raymond James assumed coverage on shares of Alerus Financial in a research report on Tuesday. They set an “outperform” rating and a $22.00 price target on the stock. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $22.80.

Alerus Financial Stock Performance

Shares of Alerus Financial stock opened at $19.28 on Wednesday. The business’s fifty day simple moving average is $21.00 and its 200-day simple moving average is $21.46. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15. The firm has a market cap of $488.52 million, a PE ratio of 120.51 and a beta of 0.71. Alerus Financial Co. has a 52 week low of $17.99 and a 52 week high of $25.85.

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

Alerus Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, December 27th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date is Friday, December 27th. Alerus Financial’s payout ratio is 500.00%.

About Alerus Financial

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.