Alerus Financial (ALRS) To Go Ex-Dividend on September 25th

Alerus Financial (NASDAQ:ALRS) declared a quarterly dividend on Wednesday, August 26th. Investors of record on Friday, September 25th will be given a dividend of 0.22 per share on Friday, October 9th. This represents a c) dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, September 25th.

Alerus Financial has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 25 years. Alerus Financial has a dividend payout ratio of 37.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Alerus Financial to earn $2.82 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 31.2%.

Alerus Financial Stock Down 0.7%

Shares of NASDAQ ALRS opened at $32.20 on Wednesday. The firm has a market cap of $802.75 million, a PE ratio of 30.38 and a beta of 0.67. Alerus Financial has a 12-month low of $20.31 and a 12-month high of $34.40. The company’s fifty day simple moving average is $33.06 and its 200 day simple moving average is $29.20. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.10.

Alerus Financial (NASDAQ:ALRS) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. Alerus Financial had a net margin of 6.87% and a return on equity of 14.41%. The firm had revenue of $80.00 million during the quarter, compared to the consensus estimate of $76.99 million. As a group, sell-side analysts forecast that Alerus Financial will post 3.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Alerus Financial

In related news, Director Jeffrey Bolton purchased 1,000 shares of Alerus Financial stock in a transaction that occurred on Tuesday, September 1st. The stock was bought at an average price of $32.45 per share, for a total transaction of $32,450.00. Following the completion of the transaction, the director owned 15,163 shares in the company, valued at $492,039.35. This represents a 7.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC bought a new stake in shares of Alerus Financial in the second quarter valued at $36,000. Corient Private Wealth LP bought a new stake in Alerus Financial in the 2nd quarter valued at about $223,000. Susquehanna Fundamental Investments LLC lifted its holdings in Alerus Financial by 30.4% during the second quarter. Susquehanna Fundamental Investments LLC now owns 28,377 shares of the company’s stock valued at $883,000 after purchasing an additional 6,608 shares during the last quarter. Empowered Funds LLC bought a new position in Alerus Financial during the second quarter worth about $3,084,000. Finally, Bank of America Corp DE bought a new stake in shares of Alerus Financial in the second quarter valued at approximately $1,226,000. 51.25% of the stock is owned by institutional investors.

Alerus Financial Company Profile

Alerus Financial Corporation is a financial services company and bank holding company headquartered in Grand Forks, North Dakota. Its principal subsidiary, Alerus Financial, National Association, provides banking, wealth management, retirement and employee-benefit services to individuals, families, businesses and institutions.

The company offers consumer and commercial deposit accounts, personal and business lending, mortgage banking, treasury management and related banking services. Through its wealth management and retirement businesses, Alerus provides investment management, trust and fiduciary services, retirement-plan administration, financial planning and benefit-account solutions, including health savings accounts and flexible spending accounts.

Alerus traces its history to 1933 and serves customers through offices and business operations in parts of Minnesota, North Dakota and Arizona, as well as through digital channels.