American Century Companies Inc. Lowers Stake in Alerus Financial Co. (NASDAQ:ALRS)

American Century Companies Inc. reduced its holdings in Alerus Financial Co. (NASDAQ:ALRS) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 147,146 shares of the company’s stock after selling 1,553 shares during the quarter. American Century Companies Inc.’s holdings in Alerus Financial were worth $2,831,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in shares of Alerus Financial by 207.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 24,214 shares of the company’s stock valued at $554,000 after purchasing an additional 16,336 shares in the last quarter. Barclays PLC grew its stake in shares of Alerus Financial by 58.8% during the third quarter. Barclays PLC now owns 44,399 shares of the company’s stock valued at $1,017,000 after acquiring an additional 16,436 shares in the last quarter. Choreo LLC purchased a new position in shares of Alerus Financial during the 4th quarter valued at approximately $2,620,000. Empowered Funds LLC grew its holdings in Alerus Financial by 70.8% during the 4th quarter. Empowered Funds LLC now owns 80,184 shares of the company’s stock worth $1,543,000 after acquiring an additional 33,247 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Alerus Financial by 4.0% during the third quarter. Geode Capital Management LLC now owns 416,072 shares of the company’s stock valued at $9,522,000 after buying an additional 15,966 shares in the last quarter. 51.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on ALRS shares. DA Davidson reiterated a “neutral” rating and issued a $23.00 target price on shares of Alerus Financial in a research report on Thursday, January 30th. Raymond James reaffirmed an “outperform” rating and issued a $24.00 price objective (up previously from $22.00) on shares of Alerus Financial in a report on Thursday, January 30th. Finally, Piper Sandler boosted their target price on shares of Alerus Financial from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $23.40.

Alerus Financial Stock Down 0.8 %

NASDAQ:ALRS opened at $16.47 on Tuesday. The firm has a market capitalization of $420.17 million, a PE ratio of 16.15 and a beta of 0.67. Alerus Financial Co. has a 52 week low of $16.10 and a 52 week high of $24.41. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average of $19.80 and a 200-day moving average of $20.85.

Alerus Financial (NASDAQ:ALRS) last issued its earnings results on Tuesday, January 28th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.16. Alerus Financial had a return on equity of 7.66% and a net margin of 6.26%. Analysts predict that Alerus Financial Co. will post 2.14 EPS for the current year.

Alerus Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 14th will be given a $0.20 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 4.86%. Alerus Financial’s dividend payout ratio is presently 78.43%.

Alerus Financial 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.