FJ Capital Management LLC Purchases Shares of 67,134 Alerus Financial $ALRS

FJ Capital Management LLC bought a new stake in Alerus Financial (NASDAQ:ALRS) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 67,134 shares of the company’s stock, valued at approximately $1,512,000. FJ Capital Management LLC owned approximately 0.26% of Alerus Financial as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co raised its holdings in shares of Alerus Financial by 25.7% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,222 shares of the company’s stock worth $50,000 after purchasing an additional 455 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Alerus Financial by 50.0% during the 4th quarter. Larson Financial Group LLC now owns 1,500 shares of the company’s stock worth $34,000 after acquiring an additional 500 shares in the last quarter. Gator Capital Management LLC boosted its stake in shares of Alerus Financial by 0.8% during the 4th quarter. Gator Capital Management LLC now owns 65,410 shares of the company’s stock worth $1,473,000 after acquiring an additional 505 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Alerus Financial by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,420 shares of the company’s stock worth $248,000 after acquiring an additional 546 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Alerus Financial by 5.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,696 shares of the company’s stock worth $297,000 after purchasing an additional 608 shares during the period. Institutional investors and hedge funds own 51.25% of the company’s stock.

Alerus Financial Stock Performance

NASDAQ:ALRS opened at $30.30 on Friday. The stock has a market capitalization of $761.44 million, a P/E ratio of 29.42 and a beta of 0.69. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.10. Alerus Financial has a 1 year low of $20.26 and a 1 year high of $30.45. The firm has a 50 day moving average of $26.90 and a 200-day moving average of $24.79.

Alerus Financial (NASDAQ:ALRS) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.31. The firm had revenue of $75.78 million during the quarter, compared to analysts’ expectations of $73.78 million. Alerus Financial had a net margin of 6.74% and a return on equity of 14.39%. As a group, sell-side analysts anticipate that Alerus Financial will post 2.95 EPS for the current fiscal year.

Alerus Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be issued a dividend of $0.22 per share. This is an increase from Alerus Financial’s previous quarterly dividend of $0.21. The ex-dividend date is Friday, June 26th. This represents a $0.88 annualized dividend and a yield of 2.9%. Alerus Financial’s dividend payout ratio is 81.55%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wall Street Zen raised shares of Alerus Financial from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Weiss Ratings raised Alerus Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Keefe, Bruyette & Woods increased their price target on shares of Alerus Financial from $25.00 to $27.00 and gave the stock a “market perform” rating in a research report on Friday, May 1st. DA Davidson increased their target price on shares of Alerus Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Finally, Piper Sandler increased their price objective on Alerus Financial from $28.00 to $28.50 and gave the stock a “neutral” rating in a report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Alerus Financial has a consensus rating of “Moderate Buy” and an average target price of $28.38.

Alerus Financial Profile

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.