JPMorgan Chase & Co. Buys 16,336 Shares of Alerus Financial Co. (NASDAQ:ALRS)

JPMorgan Chase & Co. lifted its holdings in Alerus Financial Co. (NASDAQ:ALRSFree Report) by 207.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,214 shares of the company’s stock after purchasing an additional 16,336 shares during the quarter. JPMorgan Chase & Co.’s holdings in Alerus Financial were worth $554,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ALRS. Geode Capital Management LLC raised its stake in Alerus Financial by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 416,072 shares of the company’s stock valued at $9,522,000 after acquiring an additional 15,966 shares during the period. State Street Corp increased 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 worth $8,118,000 after purchasing an additional 3,623 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Alerus Financial by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 274,615 shares of the company’s stock worth $5,384,000 after acquiring an additional 7,300 shares during the period. Stieven Capital Advisors L.P. bought a new position in shares of Alerus Financial in the 3rd quarter valued at $5,966,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Alerus Financial by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 149,280 shares of the company’s stock worth $3,416,000 after acquiring an additional 5,184 shares during the last quarter. Institutional investors own 51.25% of the company’s stock.

Alerus Financial Price Performance

Shares of Alerus Financial stock opened at $20.22 on Tuesday. The firm has a market capitalization of $512.37 million, a PE ratio of 126.38 and a beta of 0.71. The business’s 50-day moving average price is $20.50 and its 200-day moving average price is $21.49. Alerus Financial Co. has a 12 month low of $17.99 and a 12 month high of $25.85. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15.

Alerus Financial (NASDAQ:ALRSGet Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.18). Alerus Financial had a net margin of 1.01% and a return on equity of 6.02%. The business had revenue of $80.58 million for the quarter, compared to analysts’ expectations of $52.30 million. During the same period last year, the firm posted $0.45 earnings per share. Sell-side analysts forecast that Alerus Financial Co. will post 0.71 EPS for the current fiscal year.

Alerus Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, December 27th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date was Friday, December 27th. Alerus Financial’s payout ratio is currently 500.03%.

Wall Street Analyst Weigh In

ALRS has been the topic of a number of research reports. Raymond James assumed coverage on shares of Alerus Financial in a report on Tuesday, January 14th. They set an “outperform” rating and a $22.00 target price on the stock. Piper Sandler decreased their target price on Alerus Financial from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, Keefe, Bruyette & Woods upped their target price on shares of Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $22.80.

Check Out Our Latest Stock Report on ALRS

Alerus Financial Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Alerus Financial (NASDAQ:ALRS)

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