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

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

Other institutional investors also recently added to or reduced their stakes in the company. Brown Advisory Inc. lifted its stake in Alerus Financial by 9.5% in the 3rd quarter. Brown Advisory Inc. now owns 284,647 shares of the company’s stock valued at $5,175,000 after buying an additional 24,643 shares in the last quarter. SG Americas Securities LLC raised its holdings in Alerus Financial by 25.3% in the 4th quarter. SG Americas Securities LLC now owns 9,784 shares of the company’s stock valued at $219,000 after acquiring an additional 1,974 shares during the last quarter. Sippican Capital Advisors increased its holdings in shares of Alerus Financial by 93.6% during the 4th quarter. Sippican Capital Advisors now owns 60,205 shares of the company’s stock worth $1,348,000 after buying an additional 29,115 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Alerus Financial by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 97,862 shares of the company’s stock worth $1,779,000 after buying an additional 880 shares during the last quarter. Finally, Riverwater Partners LLC acquired a new stake in shares of Alerus Financial during the 3rd quarter worth $303,000. Hedge funds and other institutional investors own 51.25% of the company’s stock.

Alerus Financial Stock Down 0.8 %

Shares of ALRS stock traded down $0.16 during trading hours on Tuesday, hitting $20.98. 22,703 shares of the company were exchanged, 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 one year low of $13.11 and a one year high of $25.85. The business’s 50-day simple moving average is $21.43 and its two-hundred day simple moving average is $20.53. The stock has a market capitalization of $414.15 million, a price-to-earnings ratio of 37.09 and a beta of 0.65.

Alerus Financial (NASDAQ:ALRS) last issued its quarterly earnings results on Wednesday, January 24th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.05). Alerus Financial had a return on equity of 8.69% and a net margin of 4.34%. The company had revenue of $46.99 million for the quarter, compared to the consensus estimate of $45.00 million. Sell-side analysts predict that Alerus Financial Co. will post 1.53 EPS for the current fiscal year.

Alerus Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

ALRS has been the subject of a number of research analyst reports. DA Davidson upped 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 cut shares of Alerus Financial from a “b-” rating to a “c+” rating in a research report on Wednesday, March 13th.

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.