Alerus Financial (NASDAQ:ALRS) Director Jeffrey Bolton Purchases 1,000 Shares

Alerus Financial (NASDAQ:ALRS) Director Jeffrey Bolton acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were purchased at an average cost of $32.45 per share, for a total transaction of $32,450.00. Following the completion of the purchase, the director directly owned 15,163 shares of the company’s stock, valued at approximately $492,039.35. The trade was a 7.06% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Alerus Financial Stock Performance

NASDAQ ALRS opened at $33.31 on Thursday. The firm has a market cap of $829.42 million, a price-to-earnings ratio of 31.42 and a beta of 0.67. The company has a 50 day moving average of $32.49 and a 200-day moving average of $28.39. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. Alerus Financial has a 1-year low of $20.31 and a 1-year high of $34.40.

Alerus Financial (NASDAQ:ALRS) last announced its earnings results on Wednesday, July 29th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. The business had revenue of $80.00 million for the quarter, compared to the consensus estimate of $76.99 million. Alerus Financial had a return on equity of 14.41% and a net margin of 6.87%. On average, equities analysts forecast that Alerus Financial will post 3.03 earnings per share for the current fiscal year.

Alerus Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be given a $0.22 dividend. The ex-dividend date is Friday, September 25th. This represents a $0.88 annualized dividend and a yield of 2.6%. Alerus Financial’s payout ratio is presently 83.02%.

Wall Street Analyst Weigh In

ALRS has been the topic of several research analyst reports. DA Davidson set a $36.00 target price on Alerus Financial in a report on Friday, July 31st. Zacks Research downgraded shares of Alerus Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 20th. Wall Street Zen downgraded shares of Alerus Financial from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Piper Sandler increased their price objective on shares of Alerus Financial from $32.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Alerus Financial from $29.00 to $32.00 and gave the company a “market perform” rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $35.50.

Hedge Funds Weigh In On Alerus Financial

Several large investors have recently made changes to their positions in ALRS. Larson Financial Group LLC boosted its holdings in Alerus Financial by 50.0% in the fourth quarter. Larson Financial Group LLC now owns 1,500 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares during the last quarter. NewEdge Advisors LLC raised its holdings in Alerus Financial by 90.1% during the 2nd quarter. NewEdge Advisors LLC now owns 1,544 shares of the company’s stock worth $33,000 after purchasing an additional 732 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Alerus Financial by 25.7% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,222 shares of the company’s stock valued at $50,000 after purchasing an additional 455 shares during the period. Legal & General Group Plc acquired a new position in Alerus Financial during the 2nd quarter valued at about $73,000. Finally, CIBC Private Wealth Group LLC bought a new position in shares of Alerus Financial in the 3rd quarter valued at about $52,000. Institutional investors and hedge funds own 51.25% of the company’s stock.

Alerus Financial Company Profile

Alerus Financial Corporation (NASDAQ: ALRS) is a diversified financial services company headquartered in Grand Forks, North Dakota. The firm provides a full range of commercial and consumer banking products, including deposit accounts, lending solutions and treasury management services for individuals, small businesses and larger corporate clients. Through its community banking network, Alerus emphasizes local decision-making and personalized service to meet the needs of its varied client base.

In addition to traditional banking offerings, Alerus operates a national mortgage origination and servicing platform that delivers home purchase and refinance loans.