Endeavour Capital Advisors Inc. Purchases 229,932 Shares of Alerus Financial Co. (NASDAQ:ALRS)

Endeavour Capital Advisors Inc. boosted its position in shares of Alerus Financial Co. (NASDAQ:ALRS) by 77.3% in the 4th quarter, HoldingsChannel reports. The fund owned 527,283 shares of the company’s stock after acquiring an additional 229,932 shares during the period. Alerus Financial accounts for about 3.2% of Endeavour Capital Advisors Inc.’s portfolio, making the stock its 10th biggest holding. Endeavour Capital Advisors Inc.’s holdings in Alerus Financial were worth $10,145,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ALRS. New York State Common Retirement Fund lifted its holdings in shares of Alerus Financial by 41.7% in the 4th quarter. New York State Common Retirement Fund now owns 6,451 shares of the company’s stock valued at $124,000 after purchasing an additional 1,900 shares during the last quarter. SG Americas Securities LLC lifted its stake in Alerus Financial by 41.6% in the fourth quarter. SG Americas Securities LLC now owns 8,812 shares of the company’s stock valued at $170,000 after buying an additional 2,590 shares during the last quarter. Corebridge Financial Inc. lifted its stake in Alerus Financial by 17.1% in the fourth quarter. Corebridge Financial Inc. now owns 11,164 shares of the company’s stock valued at $215,000 after buying an additional 1,628 shares during the last quarter. Harbor Advisors LLC acquired a new stake in shares of Alerus Financial in the third quarter valued at approximately $226,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Alerus Financial during the fourth quarter worth approximately $234,000. Hedge funds and other institutional investors own 51.25% of the company’s stock.

Alerus Financial Trading Down 0.2 %

Shares of Alerus Financial stock opened at $18.43 on Wednesday. The firm has a market cap of $470.17 million, a price-to-earnings ratio of 18.07 and a beta of 0.74. Alerus Financial Co. has a 52-week low of $17.95 and a 52-week high of $24.41. The company’s 50-day simple moving average is $20.03 and its 200-day simple moving average is $20.99. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15.

Alerus Financial (NASDAQ:ALRS) last issued its earnings results on Tuesday, January 28th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 anticipate that Alerus Financial Co. will post 2.14 earnings per share for the current year.

Alerus Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.34%. Alerus Financial’s dividend payout ratio (DPR) is presently 78.43%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ALRS. Keefe, Bruyette & Woods increased their price target on shares of Alerus Financial from $22.00 to $23.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. DA Davidson reaffirmed a “neutral” rating and issued a $23.00 target price on shares of Alerus Financial in a report on Thursday, January 30th. Raymond James reissued an “outperform” rating and set a $24.00 price target (up previously from $22.00) on shares of Alerus Financial in a report on Thursday, January 30th. Finally, Piper Sandler upped their price objective on Alerus Financial from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Three 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, the company currently has an average rating of “Hold” and a consensus target price of $23.40.

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.