Sippican Capital Advisors Acquires 3,665 Shares of Alerus Financial Co. (NASDAQ:ALRS)

Sippican Capital Advisors lifted its holdings in Alerus Financial Co. (NASDAQ:ALRS) by 4.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 80,525 shares of the company’s stock after acquiring an additional 3,665 shares during the quarter. Alerus Financial accounts for about 1.3% of Sippican Capital Advisors’ holdings, making the stock its 28th biggest holding. Sippican Capital Advisors owned approximately 0.41% of Alerus Financial worth $1,842,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Federated Hermes Inc. boosted its position in Alerus Financial by 380.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,519 shares of the company’s stock valued at $30,000 after buying an additional 1,203 shares during the period. SG Americas Securities LLC purchased a new stake in Alerus Financial during the 3rd quarter valued at $142,000. Bailard Inc. purchased a new stake in Alerus Financial during the 2nd quarter valued at $265,000. Inspire Investing LLC purchased a new stake in Alerus Financial during the 3rd quarter valued at $417,000. Finally, Acadian Asset Management LLC raised its holdings in Alerus Financial by 4,147.8% in the 1st quarter. Acadian Asset Management LLC now owns 26,294 shares of the company’s stock worth $573,000 after purchasing an additional 25,675 shares in the last quarter. 51.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on ALRS shares. Piper Sandler upped their price objective on shares of Alerus Financial from $22.50 to $24.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods increased their price objective on shares of Alerus Financial from $22.00 to $23.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Raymond James raised shares of Alerus Financial from a “market perform” rating to an “outperform” rating and set a $24.00 price target on the stock in a report on Tuesday, September 17th. Finally, DA Davidson raised their price target on shares of Alerus Financial from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Alerus Financial presently has an average rating of “Hold” and a consensus target price of $23.40.

Alerus Financial Price Performance

NASDAQ:ALRS traded down $0.16 during trading hours on Thursday, hitting $20.24. 148 shares of the stock traded hands, compared to its average volume of 57,998. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.16. Alerus Financial Co. has a 1 year low of $17.07 and a 1 year high of $25.85. The company has a market cap of $400.31 million, a price-to-earnings ratio of 58.29 and a beta of 0.66. The stock has a 50 day moving average price of $22.44 and a 200 day moving average price of $20.91.

Alerus Financial (NASDAQ:ALRS) last released its earnings results on Tuesday, October 29th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.18). Alerus Financial had a return on equity of 7.25% and a net margin of 2.39%. The company had revenue of $80.58 million during the quarter, compared to analysts’ expectations of $52.30 million. During the same period last year, the firm posted $0.45 EPS. Sell-side analysts forecast that Alerus Financial Co. will post 1.21 EPS for the current fiscal year.

Alerus Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 13th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date was Friday, September 13th. Alerus Financial’s payout ratio is 228.57%.

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.