Inspire Investing LLC Has $403,000 Stock Holdings in Alerus Financial Co. (NASDAQ:ALRS)

Inspire Investing LLC raised its position in shares of Alerus Financial Co. (NASDAQ:ALRS) by 14.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,947 shares of the company’s stock after purchasing an additional 2,717 shares during the period. Inspire Investing LLC’s holdings in Alerus Financial were worth $403,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. SG Americas Securities LLC acquired a new position in shares of Alerus Financial during the third quarter worth $142,000. Harbor Advisors LLC bought a new stake in Alerus Financial during the 3rd quarter worth $226,000. Walleye Capital LLC bought a new position in Alerus Financial in the third quarter valued at about $424,000. Foundry Partners LLC acquired a new stake in shares of Alerus Financial during the third quarter valued at about $530,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Alerus Financial by 207.4% during the third quarter. JPMorgan Chase & Co. now owns 24,214 shares of the company’s stock worth $554,000 after purchasing an additional 16,336 shares during the last quarter. 51.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on ALRS. Keefe, Bruyette & Woods raised their price objective on shares of Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Raymond James started coverage on shares of Alerus Financial in a research note on Tuesday, January 14th. They set an “outperform” rating and a $22.00 price target for the company. Finally, Piper Sandler reduced their price objective on shares of Alerus Financial from $24.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Alerus Financial currently has an average rating of “Hold” and an average target price of $22.80.

Alerus Financial Trading Down 0.5 %

NASDAQ:ALRS opened at $19.83 on Friday. Alerus Financial Co. has a 52 week low of $17.99 and a 52 week high of $25.85. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.85 and a current ratio of 0.85. The firm’s fifty day moving average is $20.53 and its 200-day moving average is $21.48. The firm has a market cap of $502.49 million, a P/E ratio of 123.95 and a beta of 0.71.

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

Alerus Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, December 27th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $0.80 annualized dividend and a yield of 4.03%. Alerus Financial’s dividend payout ratio is currently 500.03%.

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.