Alerus Financial Co. (NASDAQ:ALRS) CEO Katie A. Lorenson Acquires 1,438 Shares

Alerus Financial Co. (NASDAQ:ALRS – Get Rating) CEO Katie A. Lorenson acquired 1,438 shares of Alerus Financial stock in a transaction dated Friday, May 12th. The shares were acquired at an average price of $13.90 per share, with a total value of $19,988.20. Following the completion of the transaction, the chief executive officer now owns 38,836 shares of the company’s stock, valued at approximately $539,820.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Alerus Financial Price Performance

NASDAQ ALRS opened at $14.32 on Tuesday. The stock has a market capitalization of $288.72 million, a P/E ratio of 7.46 and a beta of 0.58. Alerus Financial Co. has a 1 year low of $13.11 and a 1 year high of $26.36. The business’s fifty day moving average is $15.68 and its two-hundred day moving average is $19.82. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 0.74.

Alerus Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Thursday, June 15th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.76 annualized dividend and a dividend yield of 5.31%. This is a boost from Alerus Financial’s previous quarterly dividend of $0.18. Alerus Financial’s dividend payout ratio is currently 37.50%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Alerus Financial by 26.1% in the third quarter. Vanguard Group Inc. now owns 847,586 shares of the company’s stock valued at $18,731,000 after buying an additional 175,180 shares in the last quarter. Banc Funds Co. LLC grew its position in Alerus Financial by 0.7% during the 4th quarter. Banc Funds Co. LLC now owns 583,022 shares of the company’s stock worth $13,614,000 after purchasing an additional 3,884 shares in the last quarter. State Street Corp grew its position in Alerus Financial by 1.3% during the 3rd quarter. State Street Corp now owns 293,930 shares of the company’s stock worth $6,548,000 after purchasing an additional 3,690 shares in the last quarter. Geode Capital Management LLC grew its position in Alerus Financial by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 290,572 shares of the company’s stock worth $6,784,000 after purchasing an additional 11,745 shares in the last quarter. Finally, Brown Advisory Inc. grew its position in Alerus Financial by 20.5% during the 1st quarter. Brown Advisory Inc. now owns 279,526 shares of the company’s stock worth $4,486,000 after purchasing an additional 47,571 shares in the last quarter. Institutional investors own 41.65% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ALRS. Keefe, Bruyette & Woods began coverage on Alerus Financial in a research report on Wednesday, April 12th. They set a “market perform” rating and a $18.00 price objective for the company. Raymond James assumed coverage on Alerus Financial in a research report on Friday, January 27th. They set a “market perform” rating for the company. Hovde Group cut Alerus Financial from an “outperform” rating to a “market perform” rating and set a $21.00 target price on the stock. in a report on Thursday, January 26th. TheStreet cut Alerus Financial from a “b-” rating to a “c+” rating in a report on Wednesday, February 22nd. Finally, Piper Sandler dropped their target price on Alerus Financial from $18.00 to $16.00 in a report on Monday, May 1st.

Alerus Financial Company Profile

(Get Rating)

Alerus Financial Corp. engages in the provision of business and consumer financial products and services through its subsidiary, Alerus Financial NA. It operates through the following segments: Banking, Retirement & Benefit Services, Wealth Management, Mortgage, and Corporate Administration. The Banking segment provides lending and deposit products.