Stieven Capital Advisors L.P. Invests $5.97 Million in Alerus Financial Co. (NASDAQ:ALRS)

Stieven Capital Advisors L.P. acquired a new position in Alerus Financial Co. (NASDAQ:ALRS) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 260,748 shares of the company’s stock, valued at approximately $5,966,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Alerus Financial by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 911,806 shares of the company’s stock worth $19,905,000 after buying an additional 13,637 shares during the last quarter. Endeavour Capital Advisors Inc. grew its position in Alerus Financial by 34.0% during the 2nd quarter. Endeavour Capital Advisors Inc. now owns 288,876 shares of the company’s stock worth $5,665,000 after purchasing an additional 73,342 shares during the last quarter. Dimensional Fund Advisors LP grew its position in 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 purchasing an additional 7,300 shares during the last quarter. Bank of New York Mellon Corp grew its position in Alerus Financial by 4.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 123,512 shares of the company’s stock worth $2,422,000 after purchasing an additional 5,323 shares during the last quarter. Finally, Sippican Capital Advisors grew its position in Alerus Financial by 4.8% during the 3rd quarter. Sippican Capital Advisors now owns 80,525 shares of the company’s stock worth $1,842,000 after purchasing an additional 3,665 shares during the last quarter. Hedge funds and other institutional investors own 51.25% of the company’s stock.

Alerus Financial Stock Performance

ALRS opened at $22.09 on Friday. 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 fifty day moving average price of $22.39 and a 200 day moving average price of $21.03. Alerus Financial Co. has a 1 year low of $18.05 and a 1 year high of $25.85. The stock has a market cap of $559.76 million, a P/E ratio of 138.07 and a beta of 0.68.

Alerus Financial (NASDAQ:ALRS) 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 firm had revenue of $80.58 million during the quarter, compared to analyst estimates of $52.30 million. During the same quarter in the prior year, the firm earned $0.45 earnings per share. Equities research analysts anticipate that Alerus Financial Co. will post 0.97 earnings per share for the current year.

Alerus Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 13th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.62%. The ex-dividend date was Friday, September 13th. Alerus Financial’s dividend payout ratio is currently 500.03%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Piper Sandler dropped their target price on shares of Alerus Financial from $24.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. DA Davidson boosted their target price on shares of Alerus Financial from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Raymond James raised shares of Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price objective on the stock in a report on Tuesday, September 17th. Finally, Keefe, Bruyette & Woods upped 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 Monday, July 29th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $23.20.

Alerus Financial Company Profile

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.