Foundry Partners LLC Purchases 174,410 Shares of Alerus Financial Co. (NASDAQ:ALRS)

Foundry Partners LLC raised its position in shares of Alerus Financial Co. (NASDAQ:ALRS) by 753.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 197,570 shares of the company’s stock after acquiring an additional 174,410 shares during the quarter. Foundry Partners LLC owned about 0.78% of Alerus Financial worth $3,801,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its position in shares of Alerus Financial by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 149,280 shares of the company’s stock valued at $3,416,000 after purchasing an additional 5,184 shares in the last quarter. Walleye Capital LLC acquired a new position in Alerus Financial in the third quarter valued at approximately $424,000. State Street Corp grew its position in shares of Alerus Financial by 1.0% during the 3rd quarter. State Street Corp now owns 351,775 shares of the company’s stock worth $8,118,000 after buying an additional 3,623 shares during the period. Zacks Investment Management grew its position in shares of Alerus Financial by 7.2% during the 3rd quarter. Zacks Investment Management now owns 102,713 shares of the company’s stock worth $2,350,000 after buying an additional 6,903 shares during the period. Finally, Barclays PLC increased its stake in shares of Alerus Financial by 58.8% in the 3rd quarter. Barclays PLC now owns 44,399 shares of the company’s stock valued at $1,017,000 after acquiring an additional 16,436 shares in the last quarter. 51.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. DA Davidson restated a “neutral” rating and issued a $23.00 price target on shares of Alerus Financial in a report on Thursday, January 30th. Raymond James reaffirmed an “outperform” rating and set a $24.00 price target (up from $22.00) on shares of Alerus Financial in a research note on Thursday, January 30th. Finally, Piper Sandler increased their price target on Alerus Financial from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Alerus Financial presently has a consensus rating of “Hold” and a consensus target price of $23.40.

Alerus Financial Trading Down 3.3 %

NASDAQ:ALRS opened at $16.60 on Friday. Alerus Financial Co. has a one year low of $16.15 and a one year high of $24.41. The company has a market cap of $423.48 million, a PE ratio of 16.27 and a beta of 0.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a 50-day moving average of $19.87 and a 200-day moving average of $20.91.

Alerus Financial (NASDAQ:ALRS) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.28 by $0.16. Alerus Financial had a return on equity of 7.66% and a net margin of 6.26%. As a group, equities research analysts expect that Alerus Financial Co. will post 2.14 EPS for the current fiscal year.

Alerus Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date is Friday, March 14th. Alerus Financial’s dividend payout ratio is 78.43%.

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.