Harbor Advisors LLC Purchases Shares of 9,867 Alerus Financial Co. (NASDAQ:ALRS)

Harbor Advisors LLC purchased a new stake in Alerus Financial Co. (NASDAQ:ALRS) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 9,867 shares of the company’s stock, valued at approximately $221,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. SG Americas Securities LLC bought a new position in Alerus Financial during the 3rd quarter worth approximately $142,000. Riverwater Partners LLC bought a new position in shares of Alerus Financial during the third quarter valued at approximately $303,000. Sippican Capital Advisors bought a new position in shares of Alerus Financial during the third quarter valued at approximately $565,000. Bank of New York Mellon Corp raised its holdings in shares of Alerus Financial by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 97,862 shares of the company’s stock valued at $1,779,000 after acquiring an additional 880 shares in the last quarter. Finally, Brown Advisory Inc. raised its holdings in Alerus Financial by 9.5% in the third quarter. Brown Advisory Inc. now owns 284,647 shares of the company’s stock worth $5,175,000 after purchasing an additional 24,643 shares in the last quarter. Hedge funds and other institutional investors own 51.25% of the company’s stock.

Analyst Ratings Changes

ALRS has been the subject of a number of research reports. DA Davidson increased their price objective on Alerus Financial from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. TheStreet downgraded Alerus Financial from a “b-” rating to a “c+” rating in a report on Wednesday, March 13th.

Alerus Financial Price Performance

NASDAQ:ALRS traded down $0.16 during trading hours on Tuesday, reaching $20.98. The stock had a trading volume of 22,703 shares, compared to its average volume of 40,632. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.83 and a current ratio of 0.83. Alerus Financial Co. has a 52 week low of $13.11 and a 52 week high of $25.85. The company has a 50 day moving average price of $21.43 and a two-hundred day moving average price of $20.53. The stock has a market capitalization of $414.15 million, a PE ratio of 37.09 and a beta of 0.65.

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

Alerus Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 15th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend was Thursday, March 14th. Alerus Financial’s payout ratio is currently 133.34%.

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.