SG Americas Securities LLC Acquires New Shares in Alerus Financial Co. (NASDAQ:ALRS)

SG Americas Securities LLC bought a new position in Alerus Financial Co. (NASDAQ:ALRS) in the third quarter, HoldingsChannel reports. The fund bought 6,222 shares of the company’s stock, valued at approximately $142,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Federated Hermes Inc. grew its stake in shares of Alerus Financial by 380.7% in the second quarter. Federated Hermes Inc. now owns 1,519 shares of the company’s stock worth $30,000 after acquiring an additional 1,203 shares during the period. Bailard Inc. purchased a new stake in Alerus Financial during the 2nd quarter valued at $265,000. Acadian Asset Management LLC lifted its holdings in shares of Alerus Financial by 4,147.8% during the 1st quarter. Acadian Asset Management LLC now owns 26,294 shares of the company’s stock valued at $573,000 after buying an additional 25,675 shares during the period. Cetera Advisors LLC purchased a new position in shares of Alerus Financial in the 1st quarter worth $638,000. Finally, Hsbc Holdings PLC grew its holdings in shares of Alerus Financial by 58.8% in the second quarter. Hsbc Holdings PLC now owns 38,564 shares of the company’s stock worth $727,000 after acquiring an additional 14,273 shares during the period. Institutional investors own 51.25% of the company’s stock.

Analysts Set New Price Targets

ALRS has been the topic of a number of recent research reports. DA Davidson increased their target price on Alerus Financial from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Raymond James raised shares of Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price objective on the stock in a report on Tuesday, September 17th. Piper Sandler upped their target price on shares of Alerus Financial from $22.50 to $24.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Alerus Financial presently has an average rating of “Hold” and an average price target of $23.40.

Alerus Financial Stock Performance

ALRS opened at $23.22 on Friday. The company has a 50 day simple moving average of $22.37 and a two-hundred day simple moving average of $20.85. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market cap of $459.22 million, a P/E ratio of 47.39 and a beta of 0.66. Alerus Financial Co. has a 1-year low of $17.07 and a 1-year high of $25.85.

Alerus Financial (NASDAQ:ALRS) last issued its earnings results on Wednesday, July 24th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.06). The firm had revenue of $80.39 million during the quarter, compared to the consensus estimate of $49.20 million. Alerus Financial had a return on equity of 7.25% and a net margin of 2.39%. During the same period in the prior year, the company posted $0.45 EPS. Equities analysts forecast that Alerus Financial Co. will post 1.21 earnings per share for the current fiscal year.

Alerus Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 13th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date was Friday, September 13th. Alerus Financial’s dividend payout ratio (DPR) is 163.27%.

Alerus Financial Company 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.