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
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
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.
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