Alerus Financial Co. (NASDAQ:ALRS) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its stake in shares of Alerus Financial Co. (NASDAQ:ALRS) by 20.6% during the 4th quarter, Holdings Channel reports. The fund owned 30,260 shares of the company’s stock after selling 7,849 shares during the quarter. Hsbc Holdings PLC’s holdings in Alerus Financial were worth $579,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its holdings in shares of Alerus Financial by 457.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,277 shares of the company’s stock valued at $25,000 after purchasing an additional 1,048 shares in the last quarter. Legal & General Group Plc raised its position in shares of Alerus Financial by 32.7% in the fourth quarter. Legal & General Group Plc now owns 2,025 shares of the company’s stock worth $39,000 after acquiring an additional 499 shares during the period. Summit Investment Advisors Inc. boosted its stake in shares of Alerus Financial by 31.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,349 shares of the company’s stock worth $45,000 after acquiring an additional 568 shares in the last quarter. New York State Common Retirement Fund grew its position in shares of Alerus Financial by 41.7% during the 4th quarter. New York State Common Retirement Fund now owns 6,451 shares of the company’s stock valued at $124,000 after acquiring an additional 1,900 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Alerus Financial by 41.6% in the 4th quarter. SG Americas Securities LLC now owns 8,812 shares of the company’s stock valued at $170,000 after purchasing an additional 2,590 shares in the last quarter. 51.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on ALRS. Raymond James restated an “outperform” rating and issued a $24.00 price objective (up from $22.00) on shares of Alerus Financial in a research report on Thursday, January 30th. DA Davidson reiterated a “neutral” rating and issued a $23.00 target price on shares of Alerus Financial in a research report on Thursday, January 30th. Piper Sandler upped their price target on shares of Alerus Financial from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Finally, Keefe, Bruyette & Woods lifted their price objective on Alerus Financial from $21.00 to $22.00 and gave the stock a “market perform” rating in a report on Wednesday, April 30th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.00.

Alerus Financial Stock Up 0.6 %

Shares of NASDAQ ALRS opened at $21.10 on Wednesday. The stock has a market cap of $538.26 million, a PE ratio of 20.69 and a beta of 0.70. 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 Co. has a 12-month low of $15.78 and a 12-month high of $24.41. The company has a 50-day moving average of $18.24 and a 200 day moving average of $20.10.

Alerus Financial (NASDAQ:ALRS) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.13. Alerus Financial had a return on equity of 7.66% and a net margin of 6.26%. The business had revenue of $68.79 million during the quarter, compared to analyst estimates of $66.20 million. As a group, sell-side analysts predict that Alerus Financial Co. will post 2.14 EPS for the current fiscal year.

Alerus Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 3.79%. Alerus Financial’s payout ratio is 65.57%.

About Alerus Financial

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.