Sippican Capital Advisors Grows Position in Alerus Financial Co. (NASDAQ:ALRS)

Sippican Capital Advisors boosted its stake in shares of Alerus Financial Co. (NASDAQ:ALRS) by 93.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,205 shares of the company’s stock after purchasing an additional 29,115 shares during the period. Sippican Capital Advisors owned about 0.30% of Alerus Financial worth $1,348,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ALRS. Brown Advisory Inc. raised its holdings in Alerus Financial by 9.5% during the third quarter. Brown Advisory Inc. now owns 284,647 shares of the company’s stock valued at $5,175,000 after acquiring an additional 24,643 shares during the period. SG Americas Securities LLC increased its holdings in shares of Alerus Financial by 25.3% in the fourth quarter. SG Americas Securities LLC now owns 9,784 shares of the company’s stock worth $219,000 after purchasing an additional 1,974 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Alerus Financial by 0.9% in the third quarter. Bank of New York Mellon Corp now owns 97,862 shares of the company’s stock worth $1,779,000 after purchasing an additional 880 shares during the last quarter. Riverwater Partners LLC bought a new stake in shares of Alerus Financial in the third quarter worth about $303,000. Finally, Deutsche Bank AG increased its holdings in shares of Alerus Financial by 46.8% in the first quarter. Deutsche Bank AG now owns 9,159 shares of the company’s stock worth $147,000 after purchasing an additional 2,919 shares during the last quarter. 51.25% of the stock is currently owned by hedge funds and other institutional investors.

Alerus Financial Stock Up 0.2 %

Shares of ALRS traded up $0.03 during midday trading on Monday, hitting $20.03. 17,479 shares of the company’s stock traded hands, compared to its average volume of 40,921. Alerus Financial Co. has a 1 year low of $13.11 and a 1 year high of $25.85. The firm’s fifty day moving average is $21.68 and its 200-day moving average is $20.42. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $395.39 million, a price-to-earnings ratio of 35.09 and a beta of 0.65.

Alerus Financial (NASDAQ:ALRS) last released its quarterly earnings data on Wednesday, January 24th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). The company had revenue of $46.99 million for the quarter, compared to analysts’ expectations of $45.00 million. Alerus Financial had a net margin of 4.34% and a return on equity of 8.69%. As a group, sell-side analysts anticipate that Alerus Financial Co. will post 1.53 earnings per share for the current year.

Alerus Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 15th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend was Thursday, March 14th. Alerus Financial’s dividend payout ratio (DPR) is presently 133.34%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ALRS. DA Davidson lifted their target price on Alerus Financial from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. TheStreet cut Alerus Financial from a “b-” rating to a “c+” rating in a research note on Wednesday, March 13th. Finally, Piper Sandler upped their target price on Alerus Financial from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, December 20th.

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.